Stock Yards Bancorp (NASDAQ:SYBT) Upgraded by Wall Street Zen to “Hold” Rating
by Kim Johansen · The Markets DailyWall Street Zen upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT – Free Report) from a sell rating to a hold rating in a report published on Saturday morning.
Other research analysts also recently issued reports about the company. Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, March 6th. Finally, Piper Sandler restated a “neutral” rating and set a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.
Check Out Our Latest Stock Report on Stock Yards Bancorp
Stock Yards Bancorp Trading Down 2.3%
Stock Yards Bancorp stock opened at $63.91 on Friday. The firm has a 50-day moving average of $66.67 and a 200-day moving average of $67.68. Stock Yards Bancorp has a one year low of $60.75 and a one year high of $83.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 13.45 and a beta of 0.71.
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The company had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. On average, equities analysts expect that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.
Stock Yards Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be paid a $0.32 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.28 annualized dividend and a yield of 2.0%. Stock Yards Bancorp’s dividend payout ratio is currently 26.95%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. bought a new stake in Stock Yards Bancorp in the 3rd quarter valued at $45,000. GAMMA Investing LLC lifted its holdings in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after purchasing an additional 396 shares during the last quarter. Empowered Funds LLC bought a new position in Stock Yards Bancorp during the fourth quarter worth $60,000. Finally, Covestor Ltd boosted its position in Stock Yards Bancorp by 138.4% during the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after purchasing an additional 678 shares during the period. 56.46% of the stock is currently owned by institutional investors.
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.