Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $94.00

Stock Yards Bancorp (NASDAQ:SYBT) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $82.00 to $94.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 9.05% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the company from $82.00 to $90.00 in a report on Thursday. Wall Street Zen downgraded Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.00.

Stock Yards Bancorp Stock Down 2.1%

SYBT stock opened at $86.20 on Friday. The stock has a market capitalization of $2.54 billion, a PE ratio of 17.17 and a beta of 0.68. The company has a fifty day moving average of $76.16 and a 200-day moving average of $71.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The business had revenue of $114.67 million for the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. As a group, analysts expect that Stock Yards Bancorp will post 5 EPS for the current year.

Insider Transactions at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in Stock Yards Bancorp during the third quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new position in shares of Stock Yards Bancorp in the third quarter worth $45,000. Empowered Funds LLC purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at $60,000. Covestor Ltd lifted its position in shares of Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after acquiring an additional 678 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Stock Yards Bancorp in the first quarter valued at $85,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

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.