Keefe, Bruyette & Woods Increases Stock Yards Bancorp (NASDAQ:SYBT) Price Target to $85.00

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) had its target price upped by research analysts at Keefe, Bruyette & Woods from $80.00 to $85.00 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 objective points to a potential upside of 9.17% from the stock's current price.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Piper Sandler boosted their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Stephens boosted their price objective on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.75.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock traded down $0.70 during trading hours on Thursday, reaching $77.86. 119,235 shares of the stock traded hands, compared to its average volume of 126,158. The company has a 50 day moving average price of $77.03 and a 200 day moving average price of $73.47. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 17.90 and a beta of 0.72. Stock Yards Bancorp has a one year low of $53.21 and a one year high of $83.67. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.34.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The business had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. Stock Yards Bancorp had a return on equity of 13.51% and a net margin of 23.86%. On average, equities research analysts expect that Stock Yards Bancorp will post 4.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stock Yards Bancorp news, EVP Michael Croce sold 4,100 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total value of $315,946.00. Following the completion of the transaction, the executive vice president directly owned 24,600 shares in the company, valued at $1,895,676. This represents a 14.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura L. Wells sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total value of $312,000.00. Following the completion of the transaction, the director owned 14,954 shares of the company's stock, valued at $1,166,412. The trade was a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,902 shares of company stock worth $923,782 in the last three months. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sippican Capital Advisors grew its holdings in shares of Stock Yards Bancorp by 0.8% in the first quarter. Sippican Capital Advisors now owns 17,984 shares of the bank's stock valued at $1,242,000 after purchasing an additional 140 shares in the last quarter. Cerity Partners LLC lifted its position in Stock Yards Bancorp by 0.9% in the fourth quarter. Cerity Partners LLC now owns 18,713 shares of the bank's stock worth $1,339,000 after buying an additional 160 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Stock Yards Bancorp by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock worth $192,000 after buying an additional 171 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in Stock Yards Bancorp by 0.9% in the fourth quarter. Thoroughbred Financial Services LLC now owns 23,771 shares of the bank's stock worth $1,702,000 after buying an additional 215 shares during the last quarter. Finally, Covestor Ltd lifted its position in Stock Yards Bancorp by 164.5% in the fourth quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after buying an additional 232 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other 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.