Stock Yards Bancorp (NASDAQ:SYBT) Given Market Perform Rating at Keefe, Bruyette & Woods

Stock Yards Bancorp (NASDAQ:SYBT)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, Benzinga reports. They currently have a $54.00 target price on the bank’s stock, up from their prior target price of $53.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 15.66% from the company’s previous close.

Several other research firms have also weighed in on SYBT. Piper Sandler assumed coverage on Stock Yards Bancorp in a report on Wednesday, March 6th. They set a “neutral” rating and a $52.00 target price on the stock. Hovde Group assumed coverage on Stock Yards Bancorp in a report on Monday, March 4th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Stock Yards Bancorp presently has an average rating of “Hold” and an average target price of $50.00.

Stock Yards Bancorp Stock Down 3.0 %

SYBT traded down $1.42 during trading on Thursday, reaching $46.69. 9,843 shares of the stock traded hands, compared to its average volume of 77,331. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 12.72 and a beta of 0.81. Stock Yards Bancorp has a fifty-two week low of $36.93 and a fifty-two week high of $53.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50-day simple moving average is $45.67 and its two-hundred day simple moving average is $46.17.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Stock Yards Bancorp had a net margin of 24.54% and a return on equity of 13.20%. The company had revenue of $119.66 million for the quarter, compared to the consensus estimate of $82.60 million. As a group, equities research analysts expect that Stock Yards Bancorp will post 3.37 EPS for the current year.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Mariner LLC acquired a new stake in Stock Yards Bancorp during the third quarter worth about $1,048,000. Soltis Investment Advisors LLC acquired a new stake in Stock Yards Bancorp during the third quarter valued at approximately $275,000. Firethorn Wealth Partners LLC boosted its holdings in Stock Yards Bancorp by 24.0% during the fourth quarter. Firethorn Wealth Partners LLC now owns 15,482 shares of the bank’s stock valued at $797,000 after purchasing an additional 3,000 shares in the last quarter. UBS Group AG boosted its holdings in Stock Yards Bancorp by 70.4% during the third quarter. UBS Group AG now owns 51,213 shares of the bank’s stock valued at $2,012,000 after purchasing an additional 21,153 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Stock Yards Bancorp by 31.1% during the fourth quarter. Diversified Trust Co now owns 7,380 shares of the bank’s stock valued at $380,000 after purchasing an additional 1,750 shares in the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.