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

Wall Street Zen lowered shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other analysts have also recently issued reports on SYBT. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a “neutral” rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Finally, Stephens increased their price objective on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.25.

Stock Yards Bancorp Stock Down 0.2%

Shares of NASDAQ SYBT opened at $73.40 on Wednesday. Stock Yards Bancorp has a one year low of $44.36 and a one year high of $79.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day moving average price is $70.87 and its 200-day moving average price is $72.58. The stock has a market capitalization of $2.16 billion, a PE ratio of 18.87 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. The business had revenue of $93.63 million for the quarter, compared to analysts’ expectations of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Stock Yards Bancorp will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a $0.31 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.69%. Stock Yards Bancorp’s dividend payout ratio is currently 29.95%.

Insiders Place Their Bets

In other news, Director David P. Heintzman sold 1,581 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $74.00, for a total transaction of $116,994.00. Following the transaction, the director now directly owns 82,070 shares in the company, valued at approximately $6,073,180. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura L. Wells sold 1,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the transaction, the director now owns 18,954 shares in the company, valued at $1,459,458. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $449,427 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new position in shares of Stock Yards Bancorp during the 1st quarter valued at about $3,400,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Stock Yards Bancorp by 28.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock worth $3,636,000 after acquiring an additional 11,758 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Stock Yards Bancorp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock worth $1,051,000 after acquiring an additional 658 shares during the last quarter. Clark Capital Management Group Inc. grew its position in Stock Yards Bancorp by 46.0% during the 1st quarter. Clark Capital Management Group Inc. now owns 83,699 shares of the bank’s stock worth $5,780,000 after acquiring an additional 26,355 shares during the last quarter. Finally, Curi RMB Capital LLC grew its position in Stock Yards Bancorp by 1.5% during the 1st quarter. Curi RMB Capital LLC now owns 256,715 shares of the bank’s stock worth $17,780,000 after acquiring an additional 3,695 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.