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

Key Points

• Stock Yards Bancorp's rating has been downgraded from "hold" to "sell" by Wall Street Zen, impacting investor sentiment.
• Despite the downgrade, other analysts including Keefe, Bruyette & Woods and Piper Sandler have raised their price targets, indicating varying opinions on the stock's potential.
• The company reported a better-than-expected quarterly EPS at $1.15, beating estimates by $0.10 and reflecting a positive revenue achievement of $97.91 million.

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

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods boosted their price target on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Piper Sandler upped their target price on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $79.75.

Stock Yards Bancorp Stock Up 0.4%

SYBT stock opened at $71.22 on Friday. Stock Yards Bancorp has a fifty-two week low of $57.12 and a fifty-two week high of $83.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 16.37 and a beta of 0.73. The business's fifty day moving average price is $76.84 and its two-hundred day moving average price is $74.54.

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

Insider Activity

In related news, CEO James A. Hillebrand sold 2,162 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total transaction of $180,137.84. Following the completion of the transaction, the chief executive officer directly owned 107,292 shares in the company, valued at $8,939,569.44. This represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently modified their holdings of the company. Huntington National Bank increased its holdings in Stock Yards Bancorp by 1,405.6% in the 2nd quarter. Huntington National Bank now owns 1,084 shares of the bank's stock worth $86,000 after purchasing an additional 1,012 shares in the last quarter. Archer Investment Corp acquired a new position in shares of Stock Yards Bancorp in the second quarter valued at approximately $105,000. KBC Group NV bought a new position in Stock Yards Bancorp in the 1st quarter valued at approximately $114,000. Truist Financial Corp acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $207,000. Finally, Sei Investments Co. acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds 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.

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