Stock Yards Bancorp (SYBT) Downgraded by BidaskClub

BidaskClub lowered shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research raised Stock Yards Bancorp from a sell rating to a hold rating in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $40.00 price objective on shares of Stock Yards Bancorp in a research report on Friday, January 26th.

Stock Yards Bancorp (NASDAQ:SYBT) opened at $36.20 on Friday. The stock has a market capitalization of $820.98, a P/E ratio of 18.95 and a beta of 0.62. Stock Yards Bancorp has a 12-month low of $31.90 and a 12-month high of $46.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90.

In related news, insider Kathy C. Thompson sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.33, for a total value of $98,325.00. Following the transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $1,570,840.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Bickel III acquired 2,510 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was acquired at an average cost of $38.15 per share, for a total transaction of $95,756.50. Following the completion of the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $162,137.50. The disclosure for this purchase can be found here. Insiders purchased a total of 2,671 shares of company stock worth $102,008 over the last ninety days. 6.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SYBT. Wells Fargo & Company MN raised its stake in Stock Yards Bancorp by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 25,050 shares of the bank’s stock valued at $975,000 after buying an additional 416 shares during the last quarter. Teachers Advisors LLC raised its stake in Stock Yards Bancorp by 2.0% during the 2nd quarter. Teachers Advisors LLC now owns 52,722 shares of the bank’s stock valued at $2,051,000 after buying an additional 1,055 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Stock Yards Bancorp by 2.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 67,964 shares of the bank’s stock valued at $2,644,000 after buying an additional 1,660 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at $285,000. Finally, Northern Trust Corp raised its stake in Stock Yards Bancorp by 4.7% during the 2nd quarter. Northern Trust Corp now owns 314,214 shares of the bank’s stock valued at $12,223,000 after buying an additional 14,194 shares during the last quarter. Institutional investors and hedge funds own 47.90% of the company’s stock.

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About Stock Yards Bancorp

Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.

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