Zacks Investment Research lowered shares of Stock Yards Bancorp (NASDAQ:SYBT) from a hold rating to a sell rating in a report published on Tuesday morning, Zacks.com reports.
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. “
Other research analysts have also issued reports about the company. BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a research report on Friday, June 28th. ValuEngine raised Vistra Energy from a hold rating to a buy rating in a research report on Wednesday, July 3rd.
SYBT opened at $35.53 on Tuesday. The company has a market cap of $806.78 million, a price-to-earnings ratio of 14.68 and a beta of 0.48. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13. Stock Yards Bancorp has a 12 month low of $28.02 and a 12 month high of $39.50. The stock has a fifty day moving average of $34.83.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.09. The firm had revenue of $40.72 million during the quarter, compared to analyst estimates of $41.10 million. Stock Yards Bancorp had a return on equity of 16.01% and a net margin of 31.99%. On average, research analysts forecast that Stock Yards Bancorp will post 2.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.26 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, June 14th. Stock Yards Bancorp’s dividend payout ratio is currently 42.98%.
In related news, Chairman David P. Heintzman sold 4,322 shares of the company’s stock in a transaction dated 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 directly 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 Securities & Exchange Commission, which is available at this link. Also, insider Kathy C. Thompson sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $34.04, for a total value of $51,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 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.
A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its position in Stock Yards Bancorp by 7.8% during the 4th quarter. Legal & General Group Plc now owns 8,854 shares of the bank’s stock valued at $290,000 after buying an additional 638 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Stock Yards Bancorp by 28.4% in the first quarter. First Hawaiian Bank now owns 4,470 shares of the bank’s stock valued at $151,000 after purchasing an additional 990 shares during the period. Citigroup Inc. increased its holdings in shares of Stock Yards Bancorp by 18.1% in the fourth quarter. Citigroup Inc. now owns 6,837 shares of the bank’s stock valued at $224,000 after purchasing an additional 1,049 shares during the period. THB Asset Management increased its holdings in shares of Stock Yards Bancorp by 5.1% in the first quarter. THB Asset Management now owns 24,606 shares of the bank’s stock valued at $831,000 after purchasing an additional 1,186 shares during the period. Finally, Walthausen & Co. LLC increased its holdings in shares of Stock Yards Bancorp by 0.5% in the fourth quarter. Walthausen & Co. LLC now owns 293,183 shares of the bank’s stock valued at $9,616,000 after purchasing an additional 1,320 shares during the period. 50.20% of the stock is currently owned by institutional investors.
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, money market deposits, and time deposits.
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