Stock Yards Bancorp (NASDAQ:SYBT) Price Target Raised to $86.00 at Piper Sandler

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) had its price objective boosted by research analysts at Piper Sandler from $81.00 to $86.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. Piper Sandler's price objective would indicate a potential upside of 10.45% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Wall Street Zen lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Stephens raised their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.75.

Stock Yards Bancorp Trading Down 0.9%

Shares of Stock Yards Bancorp stock traded down $0.70 during trading hours on Thursday, hitting $77.86. The company's stock had a trading volume of 119,235 shares, compared to its average volume of 126,158. Stock Yards Bancorp has a 1-year low of $53.21 and a 1-year high of $83.67. The business has a fifty day moving average of $77.03 and a 200 day moving average of $73.47. The company has a market capitalization of $2.29 billion, a PE ratio of 17.90 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 (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.51%. The company had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.32 million. As a group, equities analysts forecast that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insiders Place Their Bets

In other news, EVP William Dishman sold 2,802 shares of Stock Yards Bancorp stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total value of $218,836.20. Following the transaction, the executive vice president owned 31,594 shares of the company's stock, valued at $2,467,491.40. This trade represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Croce sold 4,100 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total transaction of $315,946.00. Following the transaction, the executive vice president directly owned 24,600 shares in the company, valued at $1,895,676. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,902 shares of company stock worth $923,782 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd lifted its position in Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock valued at $27,000 after purchasing an additional 232 shares during the period. Sterling Capital Management LLC raised its position in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after acquiring an additional 718 shares during the period. Tower Research Capital LLC TRC increased its stake in Stock Yards Bancorp by 18.0% during the 4th 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 in the last quarter. KBC Group NV bought a new stake in Stock Yards Bancorp during the 1st quarter worth approximately $114,000. Finally, Summit Investment Advisors Inc. increased its stake in Stock Yards Bancorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock worth $192,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company's stock.

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.