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

BidaskClub upgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a buy rating in a report published on Thursday morning, BidAskClub reports.

A number of other research analysts have also recently commented on the stock. ValuEngine upgraded shares of Stock Yards Bancorp from a sell rating to a hold rating in a research note on Monday, July 29th. 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.

SYBT traded up $0.15 during midday trading on Thursday, reaching $37.40. 59,687 shares of the company’s stock were exchanged, compared to its average volume of 39,354. The company has a market cap of $850.14 million, a price-to-earnings ratio of 15.45 and a beta of 0.47. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. Stock Yards Bancorp has a one year low of $28.02 and a one year high of $39.10. The company’s 50-day moving average is $35.67.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly 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 analysts’ expectations of $42.35 million. Stock Yards Bancorp had a net margin of 32.58% and a return on equity of 16.60%. Analysts predict that Stock Yards Bancorp will post 2.66 EPS for the current fiscal year.

In other news, insider Kathy C. Thompson sold 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $35.02, for a total transaction of $203,116.00. Following the completion of the sale, the insider now owns 35,648 shares of the company’s stock, valued at $1,248,392.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Dishman sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $34.35, for a total transaction of $68,700.00. Following the sale, the insider now directly owns 17,501 shares of the company’s stock, valued at approximately $601,159.35. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 338 shares of company stock valued at $11,716 and have sold 17,595 shares valued at $615,562. Company insiders own 8.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SYBT. Farmers National Bank acquired a new stake in shares of Stock Yards Bancorp during the first quarter worth approximately $94,000. SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp in the first quarter valued at approximately $117,000. Bank of Montreal Can increased its holdings in shares of Stock Yards Bancorp by 56.9% in the first quarter. Bank of Montreal Can now owns 4,243 shares of the bank’s stock valued at $143,000 after purchasing an additional 1,539 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Stock Yards Bancorp by 28.4% in the first quarter. First Hawaiian Bank now owns 4,470 shares of the bank’s stock valued at $151,000 after purchasing an additional 990 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Stock Yards Bancorp by 589.4% in the first quarter. BNP Paribas Arbitrage SA now owns 4,495 shares of the bank’s stock valued at $152,000 after purchasing an additional 3,843 shares in the last quarter. 49.70% of the stock is owned by institutional investors.

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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