Stock Yards Bancorp (NASDAQ:SYBT) Raised to "Hold" at Wall Street Zen

Key Points

• Stock Yards Bancorp was upgraded from a "sell" rating to a "hold" rating by investment analysts at Wall Street Zen, reflecting a shift in market sentiment towards the stock.
• Multiple brokerage updates saw price target adjustments, with Piper Sandler increasing it to $86.00 and Keefe, Bruyette & Woods to $85.00, indicating a consensus price target of $79.75 among analysts.
• The company's recent quarterly earnings report showed $1.15 earnings per share, exceeding estimates, and a revenue of $97.91 million, outperforming consensus expectations.

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

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

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $66.63 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1.96 billion, a PE ratio of 15.32 and a beta of 0.62. The business has a 50-day simple moving average of $75.19 and a two-hundred day simple moving average of $74.56. Stock Yards Bancorp has a fifty-two week low of $60.75 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.10. The business had revenue of $97.91 million during 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 expect that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 107,292 shares of the company's stock, valued at approximately $8,939,569.44. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in Stock Yards Bancorp by 1,405.6% in the second quarter. Huntington National Bank now owns 1,084 shares of the bank's stock valued at $86,000 after acquiring an additional 1,012 shares during the period. Archer Investment Corp acquired a new position in Stock Yards Bancorp in the second quarter valued at approximately $105,000. KBC Group NV acquired a new position in Stock Yards Bancorp in the first quarter valued at approximately $114,000. Sei Investments Co. acquired a new position in Stock Yards Bancorp in the second quarter valued at approximately $207,000. Finally, Truist Financial Corp acquired a new position in Stock Yards Bancorp in the second quarter valued at approximately $207,000. 56.46% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.