Stock Yards Bancorp (NASDAQ:SYBT) Stock Rating Lowered by Wall Street Zen

Key Points

• Stock Yards Bancorp (NASDAQ:SYBT) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a bearish outlook on the stock.
• Piper Sandler and Keefe, Bruyette & Woods raised their price targets for SYBT to $86.00 and $85.00 respectively, despite the overall market rating remaining at "Hold."
• The company reported earnings of $1.15 per share, exceeding analysts' expectations, with a revenue of $97.91 million for the last quarter.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

SYBT has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Piper Sandler increased their price target on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.75.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock traded up $1.80 during trading on Friday, reaching $82.90. 123,153 shares of the company's stock were exchanged, compared to its average volume of 122,526. Stock Yards Bancorp has a twelve month low of $56.35 and a twelve month high of $83.67. The firm's fifty day moving average price is $77.50 and its 200-day moving average price is $73.79. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.44 billion, a PE ratio of 19.06 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The business had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. As a group, sell-side analysts anticipate that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insiders Place Their Bets

In other Stock Yards Bancorp news, EVP Michael Croce sold 4,100 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total transaction of $315,946.00. Following the transaction, the executive vice president owned 24,600 shares in the company, valued at $1,895,676. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Dishman sold 2,802 shares of Stock Yards Bancorp stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total value of $218,836.20. Following the completion of the transaction, the executive vice president directly owned 31,594 shares of the company's stock, valued at $2,467,491.40. This represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,902 shares of company stock worth $846,782 in the last quarter. Corporate insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its position in Stock Yards Bancorp by 6.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 9,983 shares of the bank's stock worth $790,000 after purchasing an additional 617 shares during the period. Tower Research Capital LLC TRC increased its holdings in Stock Yards Bancorp by 49.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,887 shares of the bank's stock valued at $386,000 after buying an additional 1,627 shares during the period. Corient Private Wealth LLC raised its position in shares of Stock Yards Bancorp by 65.6% in the 2nd quarter. Corient Private Wealth LLC now owns 41,544 shares of the bank's stock valued at $3,281,000 after buying an additional 16,460 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth approximately $296,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth approximately $242,000. Institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.