Stock Yards Bancorp (NASDAQ:SYBT) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a research report released on Friday, March 22nd, BidAskClub reports.

SYBT has been the subject of a number of other reports. Zacks Investment Research raised Stock Yards Bancorp from a sell rating to a hold rating in a report on Tuesday, January 1st. ValuEngine raised Stock Yards Bancorp from a sell rating to a hold rating in a research note on Wednesday, December 26th. Finally, FIG Partners lowered Stock Yards Bancorp from an outperform rating to a market perform rating and set a $36.00 price objective for the company. in a report on Tuesday, January 8th.

Stock Yards Bancorp stock traded down $0.13 during trading hours on Friday, reaching $34.57. The stock had a trading volume of 32,377 shares, compared to its average volume of 37,562. Stock Yards Bancorp has a 52 week low of $28.02 and a 52 week high of $41.00. The company has a market capitalization of $790.81 million, a PE ratio of 14.29 and a beta of 0.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Thursday, January 24th. The bank reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. Stock Yards Bancorp had a return on equity of 15.83% and a net margin of 31.70%. The firm had revenue of $41.49 million for the quarter, compared to analyst estimates of $40.40 million. On average, equities analysts predict that Stock Yards Bancorp will post 2.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is currently 41.32%.

In related news, Chairman David P. Heintzman sold 2,865 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $34.91, for a total transaction of $100,017.15. Following the sale, the chairman now directly owns 142,437 shares of the company’s stock, valued at $4,972,475.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kathy C. Thompson sold 3,015 shares of Stock Yards Bancorp stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $36.15, for a total value of $108,992.25. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 971 shares of company stock worth $33,541. 8.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its stake in shares of Stock Yards Bancorp by 7.8% in the fourth quarter. Legal & General Group Plc now owns 8,854 shares of the bank’s stock valued at $290,000 after acquiring an additional 638 shares during the last quarter. Bank of Montreal Can raised its position in Stock Yards Bancorp by 35.7% in the 4th quarter. Bank of Montreal Can now owns 2,704 shares of the bank’s stock worth $89,000 after purchasing an additional 712 shares during the last quarter. Quantamental Technologies LLC bought a new position in Stock Yards Bancorp in the 4th quarter worth approximately $29,000. First Hawaiian Bank raised its position in Stock Yards Bancorp by 28.4% in the 1st quarter. First Hawaiian Bank now owns 4,470 shares of the bank’s stock worth $151,000 after purchasing an additional 990 shares during the last quarter. Finally, Citigroup Inc. raised its position in Stock Yards Bancorp by 18.1% in the 4th quarter. Citigroup Inc. now owns 6,837 shares of the bank’s stock worth $224,000 after purchasing an additional 1,049 shares during the last quarter. Hedge funds and other institutional investors own 50.77% 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, money market deposits, and time deposits.

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