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.