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

Stock Yards Bancorp (NASDAQ:SYBT)‘s stock had its “market perform” rating restated by investment analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $54.00 price target on the bank’s stock, up from their previous price target of $53.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 15.66% from the stock’s previous close.

SYBT has been the subject of a number of other reports. Piper Sandler initiated coverage on Stock Yards Bancorp in a report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price target for the company. Hovde Group initiated coverage on Stock Yards Bancorp in a report on Monday, March 4th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.00.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock traded down $1.42 on Thursday, reaching $46.69. 9,843 shares of the stock were exchanged, compared to its average volume of 77,331. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp has a twelve month low of $36.93 and a twelve month high of $53.15. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 12.72 and a beta of 0.81. The business has a 50 day moving average price of $45.67 and a two-hundred day moving average price of $46.17.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. The firm had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. Analysts anticipate that Stock Yards Bancorp will post 3.37 earnings per share for the current fiscal year.

Institutional Trading of Stock Yards Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its holdings in shares of Stock Yards Bancorp by 121.7% during the 4th quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock worth $79,000 after purchasing an additional 840 shares during the period. Quadrant Capital Group LLC raised its position in Stock Yards Bancorp by 70.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock valued at $99,000 after purchasing an additional 799 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Stock Yards Bancorp in the 4th quarter valued at about $165,000. Covestor Ltd raised its position in Stock Yards Bancorp by 58.2% in the 3rd quarter. Covestor Ltd now owns 3,384 shares of the bank’s stock valued at $133,000 after purchasing an additional 1,245 shares in the last quarter. Finally, German American Bancorp Inc. acquired a new stake in Stock Yards Bancorp in the 4th quarter valued at about $230,000. 56.46% of the stock is currently 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.