Stock Yards Bancorp (NASDAQ:SYBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

Several other equities analysts also recently commented on SYBT. BidaskClub upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. ValuEngine downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd.

Shares of NASDAQ:SYBT traded down $0.34 during trading on Wednesday, hitting $34.52. The company’s stock had a trading volume of 102 shares, compared to its average volume of 43,688. The company has a market cap of $796.29 million, a price-to-earnings ratio of 14.27 and a beta of 0.42. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. Stock Yards Bancorp has a fifty-two week low of $28.02 and a fifty-two week high of $41.00.

Stock Yards Bancorp (NASDAQ:SYBT) last posted 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 business had revenue of $40.72 million during the quarter, compared to the consensus estimate of $41.10 million. Stock Yards Bancorp had a net margin of 31.99% and a return on equity of 16.01%. On average, analysts expect that Stock Yards Bancorp will post 2.57 EPS for the current year.

In related news, Chairman David P. Heintzman sold 4,322 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $34.71, for a total transaction of $150,016.62. Following the completion of the transaction, the chairman now owns 150,962 shares in the company, valued at $5,239,891.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman David P. Heintzman sold 5,686 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.64, for a total transaction of $202,649.04. Following the transaction, the chairman now owns 150,962 shares of the company’s stock, valued at approximately $5,380,285.68. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 472 shares of company stock valued at $16,250. Insiders own 8.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new position in shares of Stock Yards Bancorp during the fourth quarter worth $29,000. Bank of Montreal Can grew its stake in shares of Stock Yards Bancorp by 35.7% during the fourth quarter. Bank of Montreal Can now owns 2,704 shares of the bank’s stock worth $89,000 after purchasing an additional 712 shares in the last quarter. Farmers National Bank acquired a new position in shares of Stock Yards Bancorp during the first quarter worth $94,000. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp during the first quarter worth $117,000. Finally, First Hawaiian Bank grew its stake in shares of Stock Yards Bancorp by 28.4% during the first quarter. First Hawaiian Bank now owns 4,470 shares of the bank’s stock worth $151,000 after purchasing an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 50.95% of the company’s stock.

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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