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

Stock Yards Bancorp (NASDAQ:SYBT)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a report released on Thursday, Benzinga reports. They currently have a $54.00 price objective on the bank’s stock, up from their previous price objective of $53.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 17.01% from the stock’s current price.

Several other brokerages have also recently weighed in on SYBT. Hovde Group initiated coverage on shares of Stock Yards Bancorp in a research note on Monday, March 4th. They issued an “outperform” rating on the stock. Piper Sandler began coverage on shares of Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price objective on the stock. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.00.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $46.15 on Thursday. 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 stock has a market cap of $1.36 billion, a price-to-earnings ratio of 12.97 and a beta of 0.81. The company’s fifty day moving average is $45.66 and its 200 day moving average is $46.18.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Stock Yards Bancorp had a return on equity of 12.70% and a net margin of 22.86%. The business had revenue of $119.66 million during the quarter, compared to the consensus estimate of $82.60 million. Sell-side analysts forecast that Stock Yards Bancorp will post 3.4 EPS for the current year.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 33,906 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Stock Yards Bancorp by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock worth $46,612,000 after purchasing an additional 35,851 shares in the last quarter. RMB Capital Management LLC raised its holdings in shares of Stock Yards Bancorp by 49.7% in the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after acquiring an additional 74,132 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Stock Yards Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the bank’s stock worth $10,925,000 after acquiring an additional 2,694 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Stock Yards Bancorp in the 4th quarter worth about $9,100,000. Institutional investors own 56.46% of the company’s stock.

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.