Stock Yards Bancorp (NASDAQ:SYBT) Price Target Increased to $69.00 by Analysts at Piper Sandler

Stock Yards Bancorp (NASDAQ:SYBT) had its target price boosted by equities researchers at Piper Sandler from $65.50 to $69.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 5.55% from the company’s current price.

A number of other research analysts have also issued reports on SYBT. Stephens increased their target price on Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 target price (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the company from $67.00 to $68.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.75.

Stock Yards Bancorp Stock Performance

SYBT traded down $0.58 on Thursday, reaching $65.37. The stock had a trading volume of 13,044 shares, compared to its average volume of 103,769. Stock Yards Bancorp has a 12-month low of $36.93 and a 12-month high of $67.12. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.92 billion, a P/E ratio of 18.39 and a beta of 0.82. The business’s 50-day moving average price is $60.75 and its two-hundred day moving average price is $53.60.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. The company had revenue of $123.96 million for the quarter, compared to the consensus estimate of $83.90 million. Sell-side analysts forecast that Stock Yards Bancorp will post 3.69 earnings per share for the current year.

Insider Activity at Stock Yards Bancorp

In other news, Director Richard A. Lechleiter bought 650 shares of Stock Yards Bancorp stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $56.40 per share, with a total value of $36,660.00. Following the completion of the purchase, the director now directly owns 5,680 shares of the company’s stock, valued at approximately $320,352. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Stock Yards Bancorp news, Director Richard A. Lechleiter bought 650 shares of Stock Yards Bancorp stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $56.40 per share, for a total transaction of $36,660.00. Following the completion of the transaction, the director now directly owns 5,680 shares of the company’s stock, valued at $320,352. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William Dishman sold 2,204 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total value of $137,331.24. Following the completion of the transaction, the executive vice president now directly owns 34,444 shares in the company, valued at approximately $2,146,205.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,457 shares of company stock valued at $1,335,466. 3.90% of the stock is owned by company insiders.

Institutional Trading of Stock Yards Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Stock Yards Bancorp by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after buying an additional 33,906 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in Stock Yards Bancorp by 0.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after acquiring an additional 9,573 shares during the period. Champlain Investment Partners LLC grew its position in Stock Yards Bancorp by 4.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock valued at $57,139,000 after buying an additional 50,730 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Stock Yards Bancorp by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after purchasing an additional 24,856 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Stock Yards Bancorp by 17.3% in the second quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock valued at $9,542,000 after buying an additional 28,400 shares in the last quarter. Hedge funds and other institutional investors 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.