Stock Yards Bancorp (NASDAQ:SYBT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a hold rating in a research note released on Sunday.

Several other analysts have also recently weighed in on SYBT. Stephens set a $87.00 price objective on shares of Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. Finally, Raymond James Financial began coverage on Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Stock Yards Bancorp currently has an average rating of “Hold” and an average price target of $88.00.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT opened at $83.54 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $78.19 and its two-hundred day moving average price is $71.92. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 16.64 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The company had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. On average, equities analysts forecast that Stock Yards Bancorp will post 5.14 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s payout ratio is 25.50%.

Insider Activity

In other Stock Yards Bancorp news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the sale, the director directly owned 9,580 shares in the company, valued at $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Philip Poindexter sold 1,221 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. boosted its holdings in shares of Stock Yards Bancorp by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after buying an additional 237 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Stock Yards Bancorp by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock valued at $312,000 after acquiring an additional 310 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Stock Yards Bancorp by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock valued at $2,031,000 after acquiring an additional 383 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Stock Yards Bancorp by 7.5% during the 4th quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock valued at $370,000 after acquiring an additional 400 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at $31,000. 56.46% of the stock is currently 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.