BidaskClub Upgrades Stock Yards Bancorp (NASDAQ:SYBT) to “Buy”

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

Several other equities analysts also recently issued reports on SYBT. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. ValuEngine upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 29th.

Shares of SYBT stock traded up $0.15 on Thursday, reaching $37.40. 59,687 shares of the stock were exchanged, compared to its average volume of 35,638. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $35.67. The stock has a market cap of $872.96 million, a P/E ratio of 15.45 and a beta of 0.47. Stock Yards Bancorp has a twelve month low of $28.02 and a twelve month high of $39.10.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 24th. The bank reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.11. The firm had revenue of $43.04 million during the quarter, compared to the consensus estimate of $42.35 million. Stock Yards Bancorp had a net margin of 32.58% and a return on equity of 16.60%. On average, sell-side analysts anticipate that Stock Yards Bancorp will post 2.66 earnings per share for the current year.

In other Stock Yards Bancorp news, Chairman David P. Heintzman sold 5,686 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.64, for a total value of $202,649.04. Following the completion of the transaction, the chairman now owns 150,962 shares in the company, valued at $5,380,285.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathy C. Thompson sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $34.04, for a total transaction of $51,060.00. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 338 shares of company stock valued at $11,716 and sold 17,595 shares valued at $615,562. Corporate insiders own 8.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Stock Yards Bancorp by 1.8% in the fourth quarter. BlackRock Inc. now owns 1,634,286 shares of the bank’s stock valued at $53,604,000 after buying an additional 29,046 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Stock Yards Bancorp by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 196,439 shares of the bank’s stock valued at $6,444,000 after buying an additional 3,273 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Stock Yards Bancorp by 39.2% in the fourth quarter. Raymond James & Associates now owns 11,643 shares of the bank’s stock valued at $382,000 after buying an additional 3,278 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Stock Yards Bancorp by 2.2% in the fourth quarter. Northern Trust Corp now owns 297,445 shares of the bank’s stock valued at $9,757,000 after buying an additional 6,337 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Stock Yards Bancorp by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 920,952 shares of the bank’s stock valued at $30,207,000 after buying an additional 11,699 shares during the last quarter. Institutional investors own 49.70% of the company’s stock.

About Stock Yards Bancorp

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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