Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Stock Yards Bancorp (NASDAQ:SYBT) Stock

Stock Yards Bancorp (NASDAQ:SYBT) had its price objective raised by Keefe, Bruyette & Woods from $80.00 to $81.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 14.91% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Stephens increased their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler restated a “neutral” rating and set a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.50.

Stock Yards Bancorp Stock Up 0.1%

SYBT opened at $70.49 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $2.08 billion, a PE ratio of 14.50 and a beta of 0.67. The stock’s fifty day moving average is $66.98 and its 200-day moving average is $67.26. Stock Yards Bancorp has a one year low of $61.51 and a one year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.07. The business had revenue of $102.63 million during the quarter, compared to analysts’ expectations of $108.18 million. Stock Yards Bancorp had a return on equity of 13.78% and a net margin of 25.06%. On average, equities analysts predict that Stock Yards Bancorp will post 5.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors have recently modified their holdings of SYBT. Deprince Race & Zollo Inc. increased its stake in shares of Stock Yards Bancorp by 11.4% in the first quarter. Deprince Race & Zollo Inc. now owns 126,497 shares of the bank’s stock worth $8,385,000 after acquiring an additional 12,937 shares during the last quarter. Atlas Brown Inc. boosted its position in Stock Yards Bancorp by 46.2% during the first quarter. Atlas Brown Inc. now owns 8,677 shares of the bank’s stock valued at $575,000 after purchasing an additional 2,744 shares during the last quarter. Diversified Trust Co boosted its position in Stock Yards Bancorp by 5.4% during the first quarter. Diversified Trust Co now owns 8,962 shares of the bank’s stock valued at $594,000 after purchasing an additional 456 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Stock Yards Bancorp in the fourth quarter valued at about $250,000. Finally, Empowered Funds LLC acquired a new position in Stock Yards Bancorp in the 4th quarter worth about $60,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.