ValuEngine Downgrades Stock Yards Bancorp (SYBT) to Sell

Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

SYBT has been the subject of a number of other reports. Zacks Investment Research upgraded Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, February 15th. FIG Partners downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and set a $36.00 price target for the company. in a report on Tuesday, January 8th. Finally, BidaskClub upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 5th.

Shares of NASDAQ SYBT opened at $33.73 on Tuesday. Stock Yards Bancorp has a twelve month low of $28.02 and a twelve month high of $41.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $783.98 million, a PE ratio of 13.94 and a beta of 0.42.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $0.64 earnings per share 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 business had revenue of $41.49 million during the quarter, compared to the consensus estimate of $40.40 million. On average, equities analysts forecast that Stock Yards Bancorp will post 2.52 EPS for the current year.

In related news, insider Kathy C. Thompson sold 3,015 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $36.15, for a total transaction of $108,992.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David P. Heintzman sold 2,865 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $34.91, for a total value of $100,017.15. Following the transaction, the chairman now owns 142,437 shares of the company’s stock, valued at $4,972,475.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 971 shares of company stock valued at $33,541. 8.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SYBT. Atlas Brown Inc. acquired a new position in shares of Stock Yards Bancorp during the 1st quarter valued at about $526,000. First Hawaiian Bank increased its holdings in shares of Stock Yards Bancorp by 28.4% during the 1st quarter. First Hawaiian Bank now owns 4,470 shares of the bank’s stock valued at $151,000 after acquiring an additional 990 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Stock Yards Bancorp by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 265,728 shares of the bank’s stock valued at $8,715,000 after acquiring an additional 15,278 shares during the last quarter. Norges Bank acquired a new position in shares of Stock Yards Bancorp during the 4th quarter valued at about $2,428,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Stock Yards Bancorp by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 920,952 shares of the bank’s stock valued at $30,207,000 after acquiring an additional 11,699 shares during the last quarter. Hedge funds and other institutional investors own 50.76% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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