Stock Yards Bancorp (NASDAQ:SYBT) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Stock Yards Bancorp from “sell” to “hold.” The broader analyst consensus remains “Hold,” with one Buy rating, six Hold ratings, and an average price target of $88.
• Stock Yards Bancorp reported quarterly earnings of $1.31 per share, beating estimates of $1.08, while revenue of $114.71 million also exceeded expectations.
• Shares opened at $83.58, near the upper end of their 52-week range, while institutional investors own 56.46% of the stock. Two company insiders recently sold shares.

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

Other equities research analysts have also issued reports about the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Weiss Ratings raised Stock Yards Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Keefe, Bruyette & Woods upped their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Raymond James Financial assumed coverage on Stock Yards Bancorp in a report on Wednesday, July 8th. They set a "hold" rating on the stock. Finally, Hovde Group cut Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $88.00.

Stock Yards Bancorp Stock Down 0.4%

Shares of NASDAQ:SYBT opened at $83.58 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 52-week low of $61.51 and a 52-week high of $89.21. The stock has a market cap of $2.60 billion, a P/E ratio of 16.65 and a beta of 0.68. The business's 50 day moving average is $77.71 and its 200 day moving average is $71.70.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.23. The company had revenue of $114.71 million for the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. Sell-side analysts predict that Stock Yards Bancorp will post 5.14 EPS for the current year.

Insider Buying and Selling

In related news, Director Laura L. Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total value of $588,756.67. Following the sale, the director owned 9,580 shares of the company's stock, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Philip Poindexter sold 1,221 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the transaction, the president owned 53,376 shares of the company's stock, valued at $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Stock Yards Bancorp in the 2nd quarter valued at $165,219,000. Marshall Wace LLP grew its holdings in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank's stock worth $11,561,000 after buying an additional 155,512 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at about $9,585,000. Thrivent Financial for Lutherans purchased a new position in Stock Yards Bancorp in the 4th quarter worth approximately $7,461,000. Finally, Millennium Management LLC lifted its stake in Stock Yards Bancorp by 211.2% in the 4th quarter. Millennium Management LLC now owns 131,842 shares of the bank's stock worth $8,563,000 after purchasing an additional 89,470 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank's core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.

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