Keefe, Bruyette & Woods Reiterates Market Perform Rating for Stock Yards Bancorp (NASDAQ:SYBT)

Stock Yards Bancorp (NASDAQ:SYBT)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a research note issued on Thursday, Benzinga reports. They currently have a $54.00 target price on the bank’s stock, up from their previous target price of $53.00. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 17.01% from the stock’s current price.

Other research analysts have also issued reports about the company. Piper Sandler assumed coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price objective on the stock. Hovde Group began coverage on Stock Yards Bancorp in a research report on Monday, March 4th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Stock Yards Bancorp Trading Down 0.1 %

SYBT stock opened at $46.15 on Thursday. The business has a fifty day moving average price of $45.66 and a 200 day moving average price of $46.18. Stock Yards Bancorp has a fifty-two week low of $36.93 and a fifty-two week high of $53.15. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 12.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). The firm had revenue of $119.66 million during the quarter, compared to the consensus estimate of $82.60 million. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.70%. Analysts expect that Stock Yards Bancorp will post 3.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co raised its stake in Stock Yards Bancorp by 34.3% during the 1st quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock worth $485,000 after buying an additional 2,530 shares during the period. Chatham Capital Group Inc. raised its stake in Stock Yards Bancorp by 11.6% during the 1st quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock worth $1,481,000 after buying an additional 3,140 shares during the period. Independence Bank of Kentucky raised its stake in Stock Yards Bancorp by 34.1% during the 1st quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock worth $693,000 after buying an additional 3,603 shares during the period. Vanguard Group Inc. raised its stake in Stock Yards Bancorp by 1.9% during the 4th 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 period. Finally, RMB Capital Management LLC raised its stake in Stock Yards Bancorp by 49.7% during the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after buying an additional 74,132 shares during the period. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Company Profile

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.