Stock Yards Bancorp (NASDAQ:SYBT) Earns Market Perform Rating from Keefe, Bruyette & Woods

Stock Yards Bancorp (NASDAQ:SYBT)‘s stock had its “market perform” rating reissued by research analysts at Keefe, Bruyette & Woods in a research report issued on Thursday, Benzinga reports. They currently have a $64.00 target price on the bank’s stock, up from their prior target price of $54.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 3.36% from the company’s current price.

Separately, Hovde Group lifted their price objective on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of “Hold” and an average price target of $57.00.

Stock Yards Bancorp Stock Up 0.9 %

Shares of NASDAQ:SYBT traded up $0.54 on Thursday, reaching $61.92. The company had a trading volume of 7,459 shares, compared to its average volume of 84,037. The firm has a market capitalization of $1.82 billion, a PE ratio of 17.05 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a 52-week low of $36.93 and a 52-week high of $63.27. The firm’s 50 day simple moving average is $49.16 and its 200-day simple moving average is $47.62.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, April 24th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. The company had revenue of $83.44 million for the quarter, compared to analyst estimates of $83.00 million. Stock Yards Bancorp had a return on equity of 12.51% and a net margin of 22.86%. As a group, analysts expect that Stock Yards Bancorp will post 3.48 earnings per share for the current fiscal year.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the transaction, the director now directly owns 113,070 shares in the company, valued at $5,319,943.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Stock Yards Bancorp by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after buying an additional 33,906 shares in the last quarter. Norges Bank acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $9,100,000. GSA Capital Partners LLP purchased a new stake in shares of Stock Yards Bancorp during the first quarter worth about $863,000. RMB Capital Management LLC raised its position in shares of Stock Yards Bancorp by 49.7% during the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after purchasing an additional 74,132 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its stake 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 in the last quarter. 56.46% of the stock is owned by hedge funds and other 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.