Stock Yards Bancorp (NASDAQ:SYBT) Upgraded to Hold by BidaskClub

Stock Yards Bancorp (NASDAQ:SYBT) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday, June 28th, BidAskClub reports.

A number of other equities research analysts have also issued reports on SYBT. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Zacks Investment Research lowered Green Plains from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th.

Shares of SYBT traded down $0.06 on Friday, reaching $34.95. The stock had a trading volume of 31,315 shares, compared to its average volume of 46,097. The stock has a market cap of $799.02 million, a price-to-earnings ratio of 14.44 and a beta of 0.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $34.96. Stock Yards Bancorp has a twelve month low of $28.02 and a twelve month high of $39.35.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Stock Yards Bancorp had a return on equity of 16.01% and a net margin of 31.99%. The business had revenue of $40.72 million for the quarter, compared to analysts’ expectations of $41.10 million. As a group, equities analysts anticipate that Stock Yards Bancorp will post 2.57 EPS for the current year.

In other Stock Yards Bancorp news, Chairman David P. Heintzman sold 4,322 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $34.71, for a total transaction of $150,016.62. Following the transaction, the chairman now owns 150,962 shares of the company’s stock, valued at approximately $5,239,891.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kathy C. Thompson sold 5,800 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $35.02, for a total value of $203,116.00. Following the transaction, the insider now directly owns 35,648 shares in the company, valued at approximately $1,248,392.96. The disclosure for this sale can be found here. In the last three months, insiders have acquired 342 shares of company stock worth $11,813 and have sold 21,917 shares worth $765,578. Corporate insiders own 8.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Stock Yards Bancorp by 35.7% during the 4th quarter. Bank of Montreal Can now owns 2,704 shares of the bank’s stock worth $89,000 after buying an additional 712 shares during the last quarter. Farmers National Bank acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter worth $94,000. SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter worth $117,000. 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 worth $151,000 after buying an additional 990 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Stock Yards Bancorp by 589.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,495 shares of the bank’s stock worth $152,000 after buying an additional 3,843 shares during the last quarter. Institutional investors and hedge funds own 50.13% 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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