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 increased by Piper Sandler from $81.00 to $86.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Piper Sandler's price objective would suggest a potential upside of 6.70% from the stock's current price.

SYBT has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Stephens increased their target price on shares of 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. Finally, Wall Street Zen downgraded shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Stock Yards Bancorp currently has a consensus rating of "Hold" and an average target price of $78.50.

Stock Yards Bancorp Price Performance

Shares of SYBT traded down $0.94 during mid-day trading on Thursday, reaching $80.60. The stock had a trading volume of 28,246 shares, compared to its average volume of 125,660. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 19.46 and a beta of 0.72. Stock Yards Bancorp has a 12 month low of $53.21 and a 12 month high of $83.67. The business has a fifty day moving average of $76.94 and a 200 day moving average of $73.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted 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. Stock Yards Bancorp had a net margin of 23.34% and a return on equity of 13.02%. The business had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.32 million. Equities analysts predict that Stock Yards Bancorp will post 4.16 EPS for the current year.

Insider Activity at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 4,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total value of $312,000.00. Following the transaction, the director directly owned 14,954 shares in the company, valued at approximately $1,166,412. This represents a 21.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Heintzman sold 3,419 shares of the company's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $74.71, for a total transaction of $255,433.49. Following the completion of the transaction, the director owned 83,651 shares in the company, valued at approximately $6,249,566.21. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,902 shares of company stock valued at $1,296,210. Company insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after acquiring an additional 232 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock worth $58,000 after acquiring an additional 718 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 234 shares in the last quarter. KBC Group NV bought a new position in Stock Yards Bancorp during the 1st quarter worth about $114,000. Finally, Summit Investment Advisors Inc. grew its holdings 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 acquiring an additional 171 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors.

About Stock Yards Bancorp

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.

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