tiprankstipranks

Stock Yards Bancorp price target raised to $81 from $76.50 at Piper Sandler

Piper Sandler analyst Nathan Race raised the firm’s price target on Stock Yards Bancorp (SYBT) to $81 from $76.50 and keeps a Neutral rating on the shares. Despite slightly less-than-anticipated net interest margin expansion largely due to competitive pricing to generate deposit growth, Stock Yards Bancorp’s Q1 results exceeded expectations and profitability further strengthened, the firm says. Piper views Stock Yards Bancorp as a solid long-term holding given its superior organic growth prospects largely via share gains, pristine credit profile, outlook for continued top decile profitability metrics, as well as building excess capital flexibility and premium currency to navigate the $10B in asset threshold via likely well-received M&A.

Confident Investing Starts Here:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue