Stephens Issues Positive Forecast for Stock Yards Bancorp (NASDAQ:SYBT) Stock Price

Stock Yards Bancorp (NASDAQ:SYBT) had its target price boosted by stock analysts at Stephens from $67.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ price target points to a potential downside of 0.58% from the company’s current price.

SYBT has been the subject of several other reports. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Piper Sandler reissued a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price target on Stock Yards Bancorp from $79.00 to $80.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Zacks Research lowered Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.25.

Stock Yards Bancorp Stock Down 0.1%

NASDAQ SYBT traded down $0.09 on Thursday, reaching $70.41. 22,533 shares of the stock traded hands, compared to its average volume of 157,790. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average price of $66.93 and a 200-day moving average price of $67.24. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 14.88 and a beta of 0.67. Stock Yards Bancorp has a 12 month low of $61.51 and a 12 month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.24. The business had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%. As a group, research analysts forecast that Stock Yards Bancorp will post 4.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlas Brown Inc. grew its stake in Stock Yards Bancorp by 46.2% during the 1st quarter. Atlas Brown Inc. now owns 8,677 shares of the bank’s stock worth $575,000 after buying an additional 2,744 shares during the last quarter. Diversified Trust Co grew its stake in Stock Yards Bancorp by 5.4% during the 1st quarter. Diversified Trust Co now owns 8,962 shares of the bank’s stock valued at $594,000 after purchasing an additional 456 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at about $250,000. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at about $60,000. Finally, Voloridge Investment Management LLC grew its stake in Stock Yards Bancorp by 35.7% during the 4th quarter. Voloridge Investment Management LLC now owns 78,394 shares of the bank’s stock valued at $5,092,000 after purchasing an additional 20,605 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.