Equities researchers at Hovde Group assumed coverage on shares of Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) in a research note issued on Monday, StockNewsAPI reports. The firm set an “outperform” rating on the bank’s stock.
Separately, TheStreet raised Stock Yards Bancorp from a “c+” rating to a “b-” rating in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $54.50.
View Our Latest Research Report on SYBT
Stock Yards Bancorp Price Performance
SYBT stock traded up $0.88 during midday trading on Monday, hitting $46.00. 1,811 shares of the stock were exchanged, compared to its average volume of 65,810. The stock’s 50-day moving average price is $48.65 and its 200-day moving average price is $45.54. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 12.53 and a beta of 0.80. Stock Yards Bancorp has a fifty-two week low of $36.93 and a fifty-two week high of $58.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88.
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). The firm had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. Research analysts predict that Stock Yards Bancorp will post 3.35 earnings per share for the current year.
Insider Activity
In other news, EVP Kathy C. Thompson sold 4,000 shares of Stock Yards Bancorp stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $50.59, for a total value of $202,360.00. Following the completion of the sale, the executive vice president now owns 19,407 shares of the company’s stock, valued at $981,800.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Stock Yards Bancorp news, EVP Kathy C. Thompson sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $50.59, for a total transaction of $202,360.00. Following the completion of the sale, the executive vice president now owns 19,407 shares of the company’s stock, valued at $981,800.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James A. Hillebrand sold 5,562 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $51.14, for a total value of $284,440.68. Following the sale, the chief executive officer now directly owns 97,622 shares of the company’s stock, valued at approximately $4,992,389.08. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Institutional Investors Weigh In On Stock Yards Bancorp
A number of institutional investors have recently added to or reduced their stakes in SYBT. Champlain Investment Partners LLC grew its position in Stock Yards Bancorp by 244.4% during the second quarter. Champlain Investment Partners LLC now owns 852,171 shares of the bank’s stock valued at $38,663,000 after acquiring an additional 604,728 shares during the period. Morgan Stanley boosted its position in shares of Stock Yards Bancorp by 239.8% in the fourth quarter. Morgan Stanley now owns 409,595 shares of the bank’s stock worth $26,616,000 after buying an additional 289,066 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Stock Yards Bancorp by 194.5% in the second quarter. Goldman Sachs Group Inc. now owns 332,502 shares of the bank’s stock worth $15,086,000 after buying an additional 219,616 shares during the period. Norges Bank purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter worth about $9,100,000. Finally, State Street Corp boosted its position in shares of Stock Yards Bancorp by 22.4% in the second quarter. State Street Corp now owns 763,115 shares of the bank’s stock worth $34,798,000 after buying an additional 139,501 shares during the period. Hedge funds and other institutional investors own 52.65% of the company’s stock.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers mortgage banking and deposit services; retail, commercial, and commercial real estate lending services; and online banking, mobile banking, private banking, leasing, treasury management, merchant, international banking, correspondent banking, and other banking services.
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