Stock Yards Bancorp (NASDAQ:SYBT) Stock Rating Lowered by Hovde Group

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by Hovde Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $68.00 price objective on the bank’s stock, up from their prior price objective of $67.00. Hovde Group’s price target indicates a potential upside of 3.11% from the company’s previous close.

SYBT has been the topic of a number of other reports. Stephens boosted their target price on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $65.50 price objective on shares of Stock Yards Bancorp in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.88.

Stock Yards Bancorp Stock Up 1.9 %

Shares of SYBT opened at $65.95 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. Stock Yards Bancorp has a one year low of $36.93 and a one year high of $67.12. The company has a market cap of $1.94 billion, a P/E ratio of 18.53 and a beta of 0.82. The firm has a 50 day simple moving average of $60.75 and a two-hundred day simple moving average of $53.60.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. The firm had revenue of $123.96 million for the quarter, compared to analysts’ expectations of $83.90 million. Research analysts forecast that Stock Yards Bancorp will post 3.69 EPS for the current fiscal year.

Insider Activity

In other news, CEO James A. Hillebrand sold 9,053 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $61.99, for a total value of $561,195.47. Following the transaction, the chief executive officer now owns 105,450 shares in the company, valued at $6,536,845.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David P. Heintzman sold 6,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $62.27, for a total value of $373,620.00. Following the sale, the director now directly owns 107,070 shares in the company, valued at approximately $6,667,248.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James A. Hillebrand sold 9,053 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $61.99, for a total transaction of $561,195.47. Following the sale, the chief executive officer now owns 105,450 shares in the company, valued at $6,536,845.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,457 shares of company stock worth $1,335,466 over the last quarter. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of large investors have recently modified their holdings of SYBT. Vanguard Group Inc. increased its position in shares of Stock Yards Bancorp by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after purchasing an additional 33,906 shares during the last quarter. Stock Yards Bank & Trust Co. grew its stake in Stock Yards Bancorp by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after buying an additional 9,573 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Stock Yards Bancorp by 4.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after buying an additional 50,730 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Stock Yards Bancorp by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after buying an additional 24,856 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its holdings in shares of Stock Yards Bancorp by 17.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock worth $9,542,000 after acquiring an additional 28,400 shares during the last quarter. 56.46% of the stock is currently owned by 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.