Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $85.00

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) had its price objective raised by equities research analysts at Keefe, Bruyette & Woods from $80.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 5.56% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Stephens upped their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Piper Sandler upped their target price on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat.com, Stock Yards Bancorp presently has an average rating of "Hold" and an average target price of $79.75.

Stock Yards Bancorp Stock Down 1.2%

Shares of NASDAQ:SYBT traded down $1.02 during midday trading on Thursday, reaching $80.53. The company had a trading volume of 34,000 shares, compared to its average volume of 125,704. The business's 50 day moving average price is $76.94 and its 200 day moving average price is $73.29. The stock has a market cap of $2.37 billion, a PE ratio of 19.47 and a beta of 0.72. 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 has a 1-year low of $53.21 and a 1-year high of $83.67.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.10. The firm had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Stock Yards Bancorp had a return on equity of 13.02% and a net margin of 23.34%. Research analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Laura L. Wells sold 4,000 shares of the business'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 sale, the director directly owned 14,954 shares in the company, valued at approximately $1,166,412. The trade was a 21.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Heintzman sold 1,581 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $74.00, for a total value of $116,994.00. Following the completion of the sale, the director owned 82,070 shares of the company's stock, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,902 shares of company stock valued at $1,296,210. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted its stake in Stock Yards Bancorp by 164.5% during the fourth quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Stock Yards Bancorp by 806.7% during the fourth quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock worth $58,000 after purchasing an additional 718 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Stock Yards Bancorp by 18.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock worth $110,000 after purchasing an additional 234 shares during the last quarter. KBC Group NV bought a new stake in Stock Yards Bancorp during the first quarter worth $114,000. Finally, Truist Financial Corp bought a new stake in Stock Yards Bancorp during the second quarter worth $207,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.