Stock Yards Bancorp (SYBT) Rating Lowered to Strong Sell at BidaskClub

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday, September 20th.

Separately, Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, June 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $42.00.

NASDAQ:SYBT traded down $1.40 during mid-day trading on Thursday, reaching $33.65. The stock had a trading volume of 56,984 shares, compared to its average volume of 54,690. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The company has a market cap of $825.73 million, a P/E ratio of 17.62 and a beta of 0.52. Stock Yards Bancorp has a twelve month low of $33.30 and a twelve month high of $41.90.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 25th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. Stock Yards Bancorp had a net margin of 26.61% and a return on equity of 14.66%. The company had revenue of $40.11 million during the quarter, compared to analysts’ expectations of $39.04 million. Analysts expect that Stock Yards Bancorp will post 2.39 EPS for the current year.

In other Stock Yards Bancorp news, CEO David P. Heintzman sold 2,571 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $38.90, for a total value of $100,011.90. Following the completion of the sale, the chief executive officer now directly owns 170,552 shares of the company’s stock, valued at approximately $6,634,472.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Bickel III bought 1,000 shares of the stock in a transaction on Thursday, September 27th. The stock was purchased at an average cost of $36.00 per share, with a total value of $36,000.00. Following the completion of the purchase, the director now directly owns 6,725 shares in the company, valued at approximately $242,100. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,765 shares of company stock valued at $102,006. Corporate insiders own 8.42% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp in the 1st quarter valued at $128,000. ClariVest Asset Management LLC acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at $206,000. Citigroup Inc. lifted its holdings in shares of Stock Yards Bancorp by 66.1% during the 1st quarter. Citigroup Inc. now owns 5,619 shares of the bank’s stock valued at $197,000 after acquiring an additional 2,236 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at $251,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at $283,000. Institutional investors own 47.55% of the company’s stock.

Stock Yards Bancorp Company Profile

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, certificates of deposit, money market deposits, and time deposits.

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