Stock Yards Bancorp (NASDAQ:SYBT – Get a Rating) had its target price raised by Stephens stock analysts to $72.00 in a research report released Tuesday to clients and investors, Stock Target Advisor reports. Stephens’ price target indicates a potential upside of 4.14% from the company’s previous close.
A number of other brokerages have also published reports on SYBT. Piper Sandler assumed coverage for Stock Yards Bancorp shares in a Wednesday, July 13 research note. They set a “neutral” rating and a target price of $65.00 for the company. Hovde Group took over coverage from Stock Yards Bancorp in a Wednesday, May 18 research note. They issued a “market performance” rating on the stock. Finally, StockNews.com downgraded Stock Yards Bancorp shares from a “hold” rating to a “sell” rating in a Friday, July 29 research note.
Stock Yards Bancorp Stock Yield
NASDAQ:SYBT traded down $0.26 in Tuesday’s midday session, hitting $69.14. 772 shares of the company were traded, against an average volume of 72,094. The company has a market capitalization of $2.02 billion, a price-earnings ratio of 23.20 and a beta of 0.71. The company has a fifty-day moving average price of $64.07 and a 200-day moving average price of $57.97. Stock Yards Bancorp has a 12-month low of $49.98 and a 12-month high of $72.77. The company has a debt ratio of 0.03, a current ratio of 0.81 and a quick ratio of 0.80.
Stock Yards Bancorp (NASDAQ:SYBT – Get Rating) last reported results on Wednesday, July 27. The bank reported earnings per share of $0.91 for the quarter, beating analysts’ consensus estimate of $0.86 by $0.05. Stock Yards Bancorp had a return on equity of 14.46% and a net margin of 29.35%. On average, analysts expect Stock Yards Bancorp to post EPS of 3.84 for the current fiscal year.
Separately, Chairman Philip Poindexter sold 3,219 shares in a trade on Monday, June 27. The shares were sold at an average price of $59.18, for a total transaction of $190,500.42. Following completion of the transaction, the President now owns 41,040 shares of the company, valued at $2,428,747.20. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. In other Stock Yards Bancorp news, Chairman Philip Poindexter sold 3,219 shares in a trade dated Monday, June 27. The shares were sold at an average price of $59.18, for a total value of $190,500.42. Following the transaction, the president now directly owns 41,040 shares of the company, valued at approximately $2,428,747.20. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, Executive Vice President Michael Rehm sold 500 shares of the company in a transaction that took place on Tuesday, June 28. The stock was sold at an average price of $59.52, for a total transaction of $29,760.00. Following the sale, the executive vice president now owns 10,613 shares of the company, valued at $631,685.76. The disclosure of this sale can be found here. Insiders sold 20,071 shares of the company worth $1,293,326 in the past 90 days. Company insiders own 4.20% of the company’s shares.
Hedge funds weigh on Stock Yards Bancorp
A number of institutional investors have recently changed their holdings in SYBT. Sheets Smith Investment Management acquired a new equity stake in Stock Yards Bancorp during Q2 worth $593,000. Legal & General Group Plc increased its stake in Stock Yards Bancorp by 23.0% in the second quarter. Legal & General Group Plc now owns 26,283 shares in the bank valued at $1,573,000 after buying an additional 4,923 shares in the last quarter. Formidable Asset Management LLC increased its holdings in Stock Yards Bancorp by 0.7% in the second quarter. Formidable Asset Management LLC now owns 64,827 shares of the bank valued at $3,879,000 after buying 453 additional shares in the last quarter. Captrust Financial Advisors increased its holdings in Stock Yards Bancorp by 235.7% in the second quarter. Captrust Financial Advisors now owns 66,593 shares of the bank valued at $3,984,000 after purchasing an additional 46,753 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Stock Yards Bancorp by 9.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,412 shares of the bank valued at $1,759,000 after acquiring 2,540 additional shares in the last quarter. Institutional investors and hedge funds hold 51.96% of the company’s shares.
Stock Yards Bancorp Company Profile
(Get a rating)
Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company which provides various financial services to individuals, businesses and others in the United States. It operates in two segments, Commercial Banking and WM&T. The Commercial Banking segment offers mortgage and deposit banking services; retail, business and commercial real estate lending services; and online banking, mobile banking, private banking, leasing, cash management, trade, international banking, correspondent banking and other banking services.
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