Keefe, Bruyette & Woods Issues Positive Forecast for Stock Yards Bancorp (NASDAQ:SYBT) Stock Price

Key Points

• Keefe, Bruyette & Woods raised its price target on Stock Yards Bancorp to $81 while keeping a "market perform" rating, implying roughly a 15.66% upside from the prior close.
• Analyst views are mixed with a consensus "Hold" and $75.50 target; the stock trades near $70 after the quarter's EPS beat ($1.24 vs. $1.00) but a revenue miss, and displays a P/E of 14.74 and ROE of 13.68%.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $80.00 to $81.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 15.66% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Piper Sandler reaffirmed a "neutral" rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Stephens raised their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday. Weiss Ratings raised Stock Yards Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Zacks Research cut Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Hovde Group raised shares of Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 price target on the stock in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on 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 Down 0.7%

Shares of Stock Yards Bancorp stock traded down $0.47 during midday trading on Thursday, hitting $70.04. The company's stock had a trading volume of 59,910 shares, compared to its average volume of 158,433. The firm has a market capitalization of $2.07 billion, a P/E ratio of 14.74 and a beta of 0.67. The stock has a 50-day simple moving average of $66.93 and a 200-day simple moving average of $67.24. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp has a 1-year low of $61.51 and a 1-year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.00 by $0.24. 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 13.68% and a net margin of 24.83%. As a group, sell-side analysts expect that Stock Yards Bancorp will post 4.96 earnings per share for the current year.

Institutional Investors Weigh In On Stock Yards Bancorp

Large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Stock Yards Bancorp in the third quarter worth $28,000. Brown Brothers Harriman & Co. bought a new stake in Stock Yards Bancorp in the third quarter worth $45,000. GAMMA Investing LLC boosted its holdings in Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank's stock worth $54,000 after purchasing an additional 396 shares in the last quarter. Empowered Funds LLC bought a new stake in Stock Yards Bancorp in the fourth quarter worth $60,000. Finally, Covestor Ltd boosted its holdings in Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank's stock worth $76,000 after purchasing an additional 678 shares in the last quarter. 56.46% of the stock is currently owned by 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.

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