Zacks Investment Research Lowers Stock Yards Bancorp (NASDAQ:SYBT) to Sell

Zacks Investment Research downgraded shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “

Several other brokerages have also commented on SYBT. ValuEngine upgraded shares of Vistra Energy from a hold rating to a buy rating in a research note on Wednesday, July 3rd. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th.

Shares of NASDAQ:SYBT opened at $35.53 on Tuesday. The company has a 50 day moving average price of $34.83. Stock Yards Bancorp has a 52 week low of $28.02 and a 52 week high of $39.50. The firm has a market capitalization of $806.78 million, a price-to-earnings ratio of 14.68 and a beta of 0.48. 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 (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. Stock Yards Bancorp had a net margin of 31.99% and a return on equity of 16.01%. The company had revenue of $40.72 million for the quarter, compared to analyst estimates of $41.10 million. Sell-side analysts anticipate that Stock Yards Bancorp will post 2.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, June 14th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.25. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 42.98%.

In related 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 transaction, the insider now owns 35,648 shares in the company, valued at $1,248,392.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathy C. Thompson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $34.04, for a total transaction of $51,060.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 342 shares of company stock worth $11,813 and have sold 21,917 shares worth $765,578. 8.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Stock Yards Bancorp by 28.9% in the 4th quarter. Rhumbline Advisers now owns 30,956 shares of the bank’s stock worth $1,015,000 after purchasing an additional 6,941 shares during the period. BlackRock Inc. boosted its holdings in shares of Stock Yards Bancorp by 1.8% in the 4th quarter. BlackRock Inc. now owns 1,634,286 shares of the bank’s stock worth $53,604,000 after purchasing an additional 29,046 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Stock Yards Bancorp by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 196,439 shares of the bank’s stock worth $6,444,000 after purchasing an additional 3,273 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Stock Yards Bancorp by 17.6% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,685 shares of the bank’s stock worth $482,000 after purchasing an additional 2,195 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Stock Yards Bancorp by 39.2% in the 4th quarter. Raymond James & Associates now owns 11,643 shares of the bank’s stock worth $382,000 after purchasing an additional 3,278 shares during the period. Institutional investors and hedge funds own 50.20% 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.

Featured Article: What are the qualifications of a portfolio manager?

Get a free copy of the Zacks research report on Stock Yards Bancorp (SYBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Stock Yards Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit