Zacks Investment Research Downgrades S.Y. Bancorp (SYBT) to Hold

S.Y. Bancorp (NASDAQ:SYBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “

A number of other analysts also recently commented on the stock. FIG Partners upgraded shares of S.Y. Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, March 26th. BidaskClub downgraded shares of S.Y. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price target on shares of S.Y. Bancorp in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.00.

SYBT stock opened at $35.55 on Thursday. S.Y. Bancorp has a 52 week low of $31.90 and a 52 week high of $44.50. The stock has a market cap of $820.02, a price-to-earnings ratio of 18.61 and a beta of 0.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90.

S.Y. Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). S.Y. Bancorp had a return on equity of 13.38% and a net margin of 24.39%. The company had revenue of $38.57 million for the quarter, compared to the consensus estimate of $38.01 million. research analysts expect that S.Y. Bancorp will post 2.27 EPS for the current year.

In other S.Y. Bancorp news, Director Paul J. Bickel III bought 871 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The shares were acquired at an average cost of $34.82 per share, for a total transaction of $30,328.22. Following the acquisition, the director now directly owns 5,475 shares of the company’s stock, valued at $190,639.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William Dishman bought 1,755 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The stock was acquired at an average price of $36.18 per share, for a total transaction of $63,495.90. Following the completion of the acquisition, the insider now directly owns 17,584 shares in the company, valued at $636,189.12. The disclosure for this purchase can be found here. Insiders purchased a total of 6,249 shares of company stock worth $224,878 over the last quarter. Insiders own 6.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of S.Y. Bancorp in the 3rd quarter worth approximately $118,000. SeaCrest Wealth Management LLC bought a new stake in shares of S.Y. Bancorp in the 4th quarter worth approximately $206,000. GSA Capital Partners LLP bought a new stake in shares of S.Y. Bancorp in the 3rd quarter worth approximately $233,000. Highbridge Capital Management LLC bought a new stake in shares of S.Y. Bancorp in the 3rd quarter worth approximately $246,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of S.Y. Bancorp in the 4th quarter worth approximately $281,000. Institutional investors and hedge funds own 48.15% of the company’s stock.

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S.Y. 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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