Stock Yards Bancorp (NASDAQ:SYBT) Stock Rating Lowered by Stephens

Stephens lowered shares of Stock Yards Bancorp (NASDAQ:SYBT) from an overweight rating to an equal weight rating in a report issued on Friday, MarketBeat Ratings reports. They currently have $76.00 price objective on the bank’s stock, up from their prior price objective of $70.00.

Other research analysts also recently issued research reports about the company. Piper Sandler boosted their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.25.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $73.38 on Friday. The company has a market capitalization of $2.16 billion, a P/E ratio of 20.16 and a beta of 0.81. Stock Yards Bancorp has a fifty-two week low of $42.35 and a fifty-two week high of $77.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day moving average price of $64.52 and a two-hundred day moving average price of $56.62.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Analysts expect that Stock Yards Bancorp will post 3.76 earnings per share for the current year.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 2,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $63.07, for a total value of $170,289.00. Following the sale, the director now directly owns 29,786 shares of the company’s stock, valued at $1,878,603.02. This represents a 8.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 25,700 shares of company stock valued at $1,784,823. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Several hedge funds have recently bought and sold shares of SYBT. Stock Yards Bank & Trust Co. lifted its holdings in shares of Stock Yards Bancorp by 0.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock valued at $60,755,000 after purchasing an additional 9,573 shares during the last quarter. Champlain Investment Partners LLC raised its stake in Stock Yards Bancorp by 4.5% during the first quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock valued at $57,139,000 after buying an additional 50,730 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Stock Yards Bancorp by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after acquiring an additional 24,856 shares in the last quarter. State Street Corp grew its stake in shares of Stock Yards Bancorp by 2.0% in the third quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after acquiring an additional 15,156 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Stock Yards Bancorp by 0.9% during the third quarter. Geode Capital Management LLC now owns 636,744 shares of the bank’s stock valued at $39,480,000 after acquiring an additional 5,391 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.