Stock Yards Bancorp (NASDAQ:SYBT) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a report published on Sunday.

SYBT has been the topic of a number of other reports. Piper Sandler reaffirmed a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday. Finally, Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.00.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $64.63 on Friday. The stock’s 50-day moving average is $67.57 and its 200-day moving average is $69.35. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 13.61 and a beta of 0.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99. Stock Yards Bancorp has a 12 month low of $60.75 and a 12 month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%. Equities analysts anticipate that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.95%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of institutional investors have recently made changes to their positions in SYBT. Quarry LP acquired a new stake in shares of Stock Yards Bancorp during the third quarter worth approximately $28,000. Brown Brothers Harriman & Co. acquired a new stake in Stock Yards Bancorp in the third quarter valued at $45,000. GAMMA Investing LLC boosted its stake in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after acquiring an additional 396 shares during the last quarter. Empowered Funds LLC bought a new position in Stock Yards Bancorp during the 4th quarter valued at $60,000. Finally, Huntington National Bank grew its holdings in Stock Yards Bancorp by 1,405.6% during the 2nd quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after acquiring an additional 1,012 shares in the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.