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

Key Points

• Stock Yards Bancorp has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analysts' outlook on the stock.
• The stock currently has an average price target of $79.75, with five investment analysts rating it as a hold.
• In recent trading, Stock Yards Bancorp's share price opened at $66.47, with a year range between $60.75 and $83.83.

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 research report issued to clients and investors on Sunday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Stock Yards Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $79.75.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $66.47 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. Stock Yards Bancorp has a 1 year low of $60.75 and a 1 year high of $83.83. The stock's 50 day simple moving average is $74.63 and its two-hundred day simple moving average is $74.54. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 15.28 and a beta of 0.62.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 13.31% and a net margin of 23.86%. As a group, equities analysts anticipate that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total value of $180,137.84. Following the completion of the sale, the chief executive officer directly owned 107,292 shares in the company, valued at approximately $8,939,569.44. This represents a 1.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently made changes to their positions in the stock. Chatham Capital Group Inc. lifted its stake in shares of Stock Yards Bancorp by 6.5% during the 3rd quarter. Chatham Capital Group Inc. now owns 47,949 shares of the bank's stock worth $3,356,000 after purchasing an additional 2,939 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Stock Yards Bancorp by 76.1% during the 2nd quarter. Osaic Holdings Inc. now owns 13,356 shares of the bank's stock worth $1,002,000 after purchasing an additional 5,770 shares during the last quarter. American Trust lifted its stake in shares of Stock Yards Bancorp by 8.3% during the 2nd quarter. American Trust now owns 6,880 shares of the bank's stock worth $543,000 after purchasing an additional 525 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Stock Yards Bancorp by 412.3% during the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank's stock worth $2,536,000 after purchasing an additional 25,845 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Stock Yards Bancorp by 6.6% during the 2nd 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 last quarter. 56.46% of the stock is currently owned by hedge funds and other 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.

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