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

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

A number of other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Stock Yards Bancorp from $79.00 to $80.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research lowered Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Piper Sandler restated a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $75.25.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock traded down $0.09 during trading hours on Thursday, hitting $70.41. 22,533 shares of the stock traded hands, compared to its average volume of 157,790. Stock Yards Bancorp has a 1 year low of $61.51 and a 1 year high of $83.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 14.88 and a beta of 0.67. The firm’s 50 day moving average price is $66.93 and its 200-day moving average price is $67.24.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SYBT. Quarry LP purchased a new position in shares of Stock Yards Bancorp during the third quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at $45,000. GAMMA Investing LLC raised its stake in shares of Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after acquiring an additional 396 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at $60,000. Finally, Covestor Ltd raised its stake 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. 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.