Zacks Investment Research Upgrades Stock Yards Bancorp (NASDAQ:SYBT) to Buy

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Stock Yards Bancorp (NASDAQ:SYBTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The brokerage presently has a $59.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.85% from the stock’s previous close.

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. “

Separately, StockNews.com began coverage on Stock Yards Bancorp in a research note on Thursday, March 31st. They issued a “sell” rating for the company.

Shares of SYBT stock opened at $52.28 on Friday. Stock Yards Bancorp has a fifty-two week low of $45.92 and a fifty-two week high of $67.40. The firm has a market cap of $1.39 billion, a P/E ratio of 23.34 and a beta of 0.75. The business’s 50 day moving average price is $53.40 and its 200-day moving average price is $58.98.

Stock Yards Bancorp (NASDAQ:SYBTGet Rating) last released its earnings results on Wednesday, April 27th. The bank reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.15). Stock Yards Bancorp had a return on equity of 15.16% and a net margin of 23.13%. On average, research analysts forecast that Stock Yards Bancorp will post 3.58 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. increased its position in Stock Yards Bancorp by 794.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,279 shares of the bank’s stock valued at $82,000 after acquiring an additional 1,136 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Stock Yards Bancorp during the fourth quarter valued at $148,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Stock Yards Bancorp during the fourth quarter valued at $204,000. Amalgamated Bank purchased a new stake in Stock Yards Bancorp during the fourth quarter valued at $212,000. Finally, German American Bancorp Inc. bought a new stake in Stock Yards Bancorp during the fourth quarter valued at about $214,000. Institutional investors own 50.59% of the company’s stock.

Stock Yards Bancorp Company Profile (Get Rating)

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company and SYB Insurance Company, Inc that provides various banking products and services in Louisville, Indianapolis, Indiana, and Ohio. It operates in two segments, Commercial Banking and WM&T. The Commercial Banking segment provides mortgage banking and deposit services; retail, commercial, and commercial real estate lending services; and leasing, treasury management, merchant, international banking, correspondent banking, and other banking services.

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