Stock Yards Bancorp (NASDAQ:SYBT) Downgraded by Wall Street Zen to "Strong Sell"

Key Points

• Wall Street Zen downgraded Stock Yards Bancorp from “sell” to “strong sell,” adding to a mixed analyst picture for the stock.
• Despite the downgrade, other analysts have been more constructive: Stephens raised its price target to $70, Hovde Group set a $75 target with an “outperform” rating, and Piper Sandler reiterated a “neutral” rating with a $78 target. Overall, MarketBeat shows the stock with an average rating of Hold and an average price target of $76.00.
• Stock Yards Bancorp reported Q1 earnings of $1.24 per share, beating estimates, though revenue came in below expectations at $102.63 million versus $108.18 million expected. Shares were down 0.4% in Friday trading and opened at $71.99.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday.

Other research analysts have also issued reports about the company. Stephens increased their price objective on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Stock Yards Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Hovde Group upgraded Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research report on Friday, March 6th. Zacks Research lowered Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $78.00 price objective (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $76.00.

Stock Yards Bancorp Stock Down 0.4%

Shares of SYBT opened at $71.99 on Friday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.81 and a beta of 0.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 1.00. The business's fifty day moving average price is $67.53 and its two-hundred day moving average price is $67.44. Stock Yards Bancorp has a 52 week low of $61.51 and a 52 week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.07. The firm had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. On average, analysts predict that Stock Yards Bancorp will post 5.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings in Stock Yards Bancorp by 60.7% during the third quarter. Citigroup Inc. now owns 61,128 shares of the bank's stock worth $4,278,000 after acquiring an additional 23,093 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Stock Yards Bancorp during the third quarter worth about $1,638,000. State of New Jersey Common Pension Fund D bought a new position in Stock Yards Bancorp during the third quarter worth about $1,932,000. Aptus Capital Advisors LLC lifted its holdings in Stock Yards Bancorp by 15.2% during the third quarter. Aptus Capital Advisors LLC now owns 186,875 shares of the bank's stock worth $13,079,000 after acquiring an additional 24,686 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its holdings in Stock Yards Bancorp by 146.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank's stock worth $7,376,000 after acquiring an additional 67,440 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Company Profile

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.

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