Stock Yards Bancorp (NASDAQ:SYBT) Given New $94.00 Price Target at Keefe, Bruyette & Woods

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) had its price objective boosted by research analysts at Keefe, Bruyette & Woods from $82.00 to $94.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.05% from the stock’s previous close.

Other analysts also recently issued reports about the company. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $82.00 to $90.00 in a report on Thursday. 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 research report on Friday, June 26th. Wall Street Zen downgraded Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $88.00.

View Our Latest Report on Stock Yards Bancorp

Stock Yards Bancorp Trading Down 2.1%

Shares of NASDAQ:SYBT opened at $86.20 on Friday. Stock Yards Bancorp has a 52 week low of $61.51 and a 52 week high of $89.21. The company’s 50 day moving average is $76.16 and its two-hundred day moving average is $71.01. The company has a market cap of $2.54 billion, a PE ratio of 17.17 and a beta of 0.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The firm had revenue of $114.67 million during the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. Equities analysts predict that Stock Yards Bancorp will post 5 earnings per share for the current fiscal year.

Insider Activity

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction 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 transaction, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. The trade was a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

A number of large investors have recently bought and sold shares of SYBT. AQR Capital Management LLC increased its stake in Stock Yards Bancorp by 47.4% in the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after purchasing an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after buying an additional 658 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Stock Yards Bancorp by 28.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock worth $3,636,000 after buying an additional 11,758 shares during the period. Jane Street Group LLC acquired a new stake in shares of Stock Yards Bancorp during the first quarter worth about $3,400,000. Finally, Cetera Investment Advisers purchased a new position in shares of Stock Yards Bancorp during the second quarter worth about $365,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

About Stock Yards Bancorp

(Get Free Report)

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.

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Analyst Recommendations for Stock Yards Bancorp (NASDAQ:SYBT)

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