Stock Yards Bancorp (NASDAQ:SYBT) Rating Lowered to "Equal Weight" at Stephens

Stephens cut shares of Stock Yards Bancorp (NASDAQ:SYBT - Free Report) from an overweight rating to an equal weight rating in a report issued on Friday morning, MarketBeat reports. Stephens currently has $76.00 price target on the bank's stock, up from their previous price target of $70.00.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $64.00 target price (up previously from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Hovde Group lowered Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Piper Sandler increased their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $69.25.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock traded down $1.18 during mid-day trading on Friday, reaching $73.25. The company had a trading volume of 94,723 shares, compared to its average volume of 106,919. Stock Yards Bancorp has a 52 week low of $42.35 and a 52 week high of $77.82. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 20.45 and a beta of 0.81. The company has a 50 day moving average of $64.20 and a 200-day moving average of $56.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The firm had revenue of $130.52 million during the quarter, compared to analyst estimates of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. On average, sell-side analysts expect that Stock Yards Bancorp will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, September 16th. This is a boost from Stock Yards Bancorp's previous quarterly dividend of $0.30. Stock Yards Bancorp's payout ratio is 34.07%.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,341 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the transaction, the director now owns 97,070 shares of the company's stock, valued at $6,411,473.50. This represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 15,700 shares of company stock valued at $1,054,023 over the last quarter. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in Stock Yards Bancorp by 2.0% during the third quarter. State Street Corp now owns 778,497 shares of the bank's stock valued at $48,506,000 after purchasing an additional 15,156 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Stock Yards Bancorp by 35.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,883 shares of the bank's stock valued at $799,000 after buying an additional 3,385 shares during the last quarter. FMR LLC grew its stake in shares of Stock Yards Bancorp by 7.5% in the third quarter. FMR LLC now owns 2,400 shares of the bank's stock valued at $149,000 after buying an additional 167 shares in the last quarter. Quantbot Technologies LP increased its holdings in Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank's stock worth $141,000 after buying an additional 1,367 shares during the last quarter. Finally, Alpha DNA Investment Management LLC bought a new stake in Stock Yards Bancorp during the third quarter worth $472,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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 a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.