Wall Street Zen Downgrades Stock Yards Bancorp (NASDAQ:SYBT) to Sell

by · The Markets Daily

Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

SYBT has been the topic of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Friday. Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Stock Yards Bancorp has an average rating of “Moderate Buy” and an average target price of $79.00.

Check Out Our Latest Stock Analysis on Stock Yards Bancorp

Stock Yards Bancorp Trading Down 0.3%

Shares of SYBT stock opened at $64.43 on Friday. The stock’s 50-day moving average price is $67.52 and its 200-day moving average price is $69.26. Stock Yards Bancorp has a 12-month low of $60.75 and a 12-month high of $83.83. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 13.56 and a beta of 0.72. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%. Equities research analysts predict that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Stock Yards Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in Stock Yards Bancorp during the 3rd quarter valued at $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp in the third quarter worth $45,000. GAMMA Investing LLC increased its stake in Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after purchasing an additional 396 shares during the period. Empowered Funds LLC bought a new stake in shares of Stock Yards Bancorp during the fourth quarter worth $60,000. Finally, Covestor Ltd boosted its stake in shares of Stock Yards Bancorp by 138.4% during the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after purchasing an additional 678 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Company Profile

(Get Free Report)

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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