Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, February 17th.
Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 price target on shares of Stock Yards Bancorp in a report on Friday, January 26th.
Shares of Stock Yards Bancorp (NASDAQ:SYBT) traded down $0.90 during trading on Friday, hitting $35.75. The company had a trading volume of 46,851 shares, compared to its average volume of 48,333. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $840.26, a P/E ratio of 22.08 and a beta of 0.64. Stock Yards Bancorp has a 1 year low of $31.90 and a 1 year high of $44.50.
In related news, Director Paul J. Bickel III acquired 2,510 shares of the stock in a transaction dated Tuesday, December 26th. The stock was bought at an average cost of $38.15 per share, with a total value of $95,756.50. Following the purchase, the director now directly owns 4,250 shares of the company’s stock, valued at $162,137.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kathy C. Thompson sold 2,500 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.33, for a total transaction of $98,325.00. Following the sale, the insider now directly owns 39,940 shares of the company’s stock, valued at $1,570,840.20. The disclosure for this sale can be found here. Insiders have bought a total of 2,697 shares of company stock valued at $102,826 over the last three months. Corporate insiders own 6.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SYBT. Wells Fargo & Company MN grew its stake in shares of 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 period. Teachers Advisors LLC grew its stake in shares of 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 period. TIAA CREF Investment Management LLC grew its stake in shares of 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 period. Ameriprise Financial Inc. purchased a new stake in shares of Stock Yards Bancorp during the 2nd quarter valued at $285,000. Finally, Northern Trust Corp grew its stake in shares of 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 period. 48.27% of the stock is owned by institutional investors.
Stock Yards Bancorp Company Profile
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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