Stephens Boosts Stock Yards Bancorp (NASDAQ:SYBT) Price Target to $70.00

Stock Yards Bancorp (NASDAQ:SYBT) had its target price increased by research analysts at Stephens from $60.00 to $70.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Stephens’ price target would indicate a potential upside of 6.14% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reissued a “neutral” rating and set a $65.50 price objective on shares of Stock Yards Bancorp in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Finally, Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $67.00 to $68.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.88.

Stock Yards Bancorp Trading Up 1.9 %

Shares of SYBT stock opened at $65.95 on Thursday. 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 stock’s 50-day moving average price is $60.75 and its 200-day moving average price is $53.60. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.53 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $123.96 million for the quarter, compared to analysts’ expectations of $83.90 million. Equities research analysts predict that Stock Yards Bancorp will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director Richard A. Lechleiter bought 650 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired 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 approximately $320,352. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard A. Lechleiter purchased 650 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $56.40 per share, for a total transaction of $36,660.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David P. Heintzman sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $62.27, for a total value of $373,620.00. Following the completion of the sale, the director now owns 107,070 shares of the company’s stock, valued at $6,667,248.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,457 shares of company stock worth $1,335,466 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Several hedge funds have recently modified their holdings of the company. Ballentine Partners LLC purchased a new stake in shares of Stock Yards Bancorp during the third quarter valued at about $219,000. Creative Planning lifted its position in shares of Stock Yards Bancorp by 7.6% during the third quarter. Creative Planning now owns 46,346 shares of the bank’s stock valued at $2,873,000 after buying an additional 3,289 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Stock Yards Bancorp during the third quarter valued at about $206,000. Independence Bank of Kentucky lifted its position in shares of Stock Yards Bancorp by 10.5% during the third quarter. Independence Bank of Kentucky now owns 15,889 shares of the bank’s stock valued at $985,000 after buying an additional 1,515 shares during the last quarter. Finally, Barlow Wealth Partners Inc. lifted its position in shares of Stock Yards Bancorp by 1.7% during the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock valued at $3,805,000 after buying an additional 1,069 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other 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.