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

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

A number of other equities analysts also recently weighed in on the stock. Stephens boosted their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Stock Yards Bancorp has a consensus rating of "Hold" and an average target price of $77.25.

Stock Yards Bancorp Stock Down 0.2%

Shares of NASDAQ SYBT traded down $0.18 during midday trading on Wednesday, reaching $73.40. The company's stock had a trading volume of 80,059 shares, compared to its average volume of 129,184. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp has a fifty-two week low of $44.36 and a fifty-two week high of $79.85. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 18.87 and a beta of 0.73. The stock has a 50 day simple moving average of $70.94 and a 200-day simple moving average of $72.56.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The company had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. During the same period last year, the company earned $0.88 earnings per share. Equities research analysts predict that Stock Yards Bancorp will post 4.16 earnings per share for the current year.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction on Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the completion of the transaction, the director now directly owns 82,070 shares of the company's stock, valued at $6,073,180. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura L. Wells sold 1,000 shares of Stock Yards Bancorp stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the transaction, the director now directly owns 18,954 shares of the company's stock, valued at approximately $1,459,458. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock valued at $449,427 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYBT. Jane Street Group LLC bought a new stake in shares of Stock Yards Bancorp in the first quarter valued at about $3,400,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Stock Yards Bancorp by 28.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank's stock valued at $3,636,000 after acquiring an additional 11,758 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank's stock valued at $1,051,000 after acquiring an additional 658 shares during the period. Clark Capital Management Group Inc. boosted its position in shares of Stock Yards Bancorp by 46.0% in the first quarter. Clark Capital Management Group Inc. now owns 83,699 shares of the bank's stock valued at $5,780,000 after acquiring an additional 26,355 shares during the period. Finally, Curi RMB Capital LLC boosted its position in shares of Stock Yards Bancorp by 1.5% in the first quarter. Curi RMB Capital LLC now owns 256,715 shares of the bank's stock valued at $17,780,000 after acquiring an additional 3,695 shares during the period. 56.46% of the stock is owned by institutional investors.

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.