Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $70.00 at Stephens

Stock Yards Bancorp (NASDAQ:SYBT) had its price objective increased by analysts at Stephens from $60.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Stephens’ price objective points to a potential upside of 8.23% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on SYBT. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $67.00 to $68.00 in a research report on Thursday. Finally, Piper Sandler restated a “neutral” rating and issued a $65.50 price target on shares of Stock Yards Bancorp in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.75.

Stock Yards Bancorp Trading Down 2.8 %

Shares of SYBT stock opened at $64.68 on Thursday. The firm’s 50-day simple moving average is $61.11 and its 200-day simple moving average is $53.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. Stock Yards Bancorp has a 1-year low of $37.51 and a 1-year high of $67.12. The firm has a market cap of $1.90 billion, a P/E ratio of 18.17 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. The company had revenue of $130.52 million for the quarter, compared to the consensus estimate of $87.57 million. As a group, equities analysts forecast that Stock Yards Bancorp will post 3.69 EPS for the current year.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the sale, the director now owns 29,786 shares of the company’s stock, valued at $1,878,603.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the transaction, the director now directly owns 29,786 shares of the company’s stock, valued at $1,878,603.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard A. Lechleiter bought 650 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $56.40 per share, for a total transaction of $36,660.00. Following the completion of the transaction, the director now owns 5,680 shares of the company’s stock, valued at approximately $320,352. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 15,457 shares of company stock valued at $961,846. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Stock Yards Bancorp by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after buying an additional 33,906 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of Stock Yards Bancorp by 34.1% in the 1st quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock worth $693,000 after purchasing an additional 3,603 shares during the last quarter. Chatham Capital Group Inc. raised its stake in shares of Stock Yards Bancorp by 11.6% in the 1st quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock valued at $1,481,000 after purchasing an additional 3,140 shares in the last quarter. Diversified Trust Co lifted its position in shares of Stock Yards Bancorp by 34.3% during the first quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock worth $485,000 after purchasing an additional 2,530 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Stock Yards Bancorp by 21.5% in the first quarter. BNP Paribas Financial Markets now owns 24,531 shares of the bank’s stock worth $1,200,000 after purchasing an additional 4,342 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.