BidaskClub Lowers Stock Yards Bancorp (SYBT) to Strong Sell

BidaskClub cut shares of Stock Yards Bancorp (NASDAQ:SYBT) from a sell rating to a strong sell rating in a research note published on Wednesday morning.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Stock Yards Bancorp from a hold rating to a buy rating and set a $44.00 price target for the company in a research report on Saturday, July 28th. ValuEngine lowered Stock Yards Bancorp from a hold rating to a sell rating in a research report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $42.00.

Shares of Stock Yards Bancorp stock traded down $1.07 during trading on Wednesday, reaching $29.83. 66,750 shares of the stock traded hands, compared to its average volume of 33,482. The firm has a market cap of $702.84 million, a price-to-earnings ratio of 15.62 and a beta of 0.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. Stock Yards Bancorp has a 52-week low of $29.69 and a 52-week high of $41.90.



Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, October 24th. The bank reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). The firm had revenue of $39.95 million for the quarter, compared to analysts’ expectations of $40.95 million. Stock Yards Bancorp had a net margin of 27.08% and a return on equity of 15.25%. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts expect that Stock Yards Bancorp will post 2.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $1.00 annualized dividend and a yield of 3.35%. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.23. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 52.36%.

In related news, CEO David P. Heintzman sold 2,571 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $38.90, for a total value of $100,011.90. Following the completion of the transaction, the chief executive officer now owns 170,552 shares in the company, valued at $6,634,472.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul J. Bickel III purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The stock was bought at an average price of $36.00 per share, with a total value of $36,000.00. Following the transaction, the director now owns 6,725 shares of the company’s stock, valued at approximately $242,100. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,706 shares of company stock valued at $99,381. 6.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in Stock Yards Bancorp by 116.7% in the third quarter. Russell Investments Group Ltd. now owns 4,026 shares of the bank’s stock worth $146,000 after purchasing an additional 2,168 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Stock Yards Bancorp in the second quarter worth about $206,000. Sigma Planning Corp bought a new stake in Stock Yards Bancorp in the second quarter worth about $251,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Stock Yards Bancorp in the second quarter worth about $283,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Stock Yards Bancorp by 44.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 8,618 shares of the bank’s stock worth $303,000 after purchasing an additional 2,642 shares during the last quarter. Institutional investors own 48.04% 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, certificates of deposit, money market deposits, and time deposits.

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