Stock Yards Bancorp (NASDAQ:SYBT) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a strong sell rating in a research note released on Tuesday morning, BidAskClub reports.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Stock Yards Bancorp from a hold rating to a buy rating and set a $43.00 price target on the stock in a research report on Tuesday, February 4th. ValuEngine raised Stock Yards Bancorp from a sell rating to a hold rating in a research report on Friday, January 3rd.

Shares of SYBT opened at $39.59 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $40.17 and its 200-day moving average price is $38.89. Stock Yards Bancorp has a 52 week low of $32.00 and a 52 week high of $42.60. The stock has a market cap of $894.66 million, a P/E ratio of 13.70 and a beta of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, January 29th. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. Stock Yards Bancorp had a return on equity of 17.03% and a net margin of 33.44%. The firm had revenue of $45.88 million for the quarter, compared to analysts’ expectations of $44.21 million. On average, equities analysts anticipate that Stock Yards Bancorp will post 2.71 EPS for the current year.

In related news, EVP William Dishman sold 1,906 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $40.40, for a total value of $77,002.40. Following the transaction, the executive vice president now directly owns 17,504 shares of the company’s stock, valued at approximately $707,161.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rehm sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $40.08, for a total value of $50,100.00. Following the completion of the transaction, the executive vice president now directly owns 9,427 shares in the company, valued at $377,834.16. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 178 shares of company stock worth $7,196 and sold 5,156 shares worth $209,902. Corporate insiders own 8.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its position in Stock Yards Bancorp by 23.6% in the 3rd quarter. Stifel Financial Corp now owns 178,690 shares of the bank’s stock valued at $6,556,000 after acquiring an additional 34,129 shares in the last quarter. California Public Employees Retirement System raised its stake in Stock Yards Bancorp by 50.0% during the 3rd quarter. California Public Employees Retirement System now owns 44,995 shares of the bank’s stock valued at $1,651,000 after buying an additional 14,989 shares during the last quarter. First Financial Bank Trust Division raised its stake in Stock Yards Bancorp by 4.4% during the 4th quarter. First Financial Bank Trust Division now owns 8,580 shares of the bank’s stock valued at $352,000 after buying an additional 360 shares during the last quarter. California State Teachers Retirement System raised its stake in Stock Yards Bancorp by 2.2% during the 3rd quarter. California State Teachers Retirement System now owns 31,889 shares of the bank’s stock valued at $1,170,000 after buying an additional 685 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Stock Yards Bancorp by 134.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,714 shares of the bank’s stock valued at $321,000 after buying an additional 5,005 shares during the last quarter. 51.76% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, money market deposits, and time deposits.

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