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Piper Sandler downgraded its rating of Stock Yards Bancorp (NASDAQ:SYBT) to Underweight with a price target of $73.00, changing its price target from $75.00 to $73.00.
Shares of Stock Yards Bancorp are trading down 3.35% over the last 24 hours, at $69.80 per share.
A move to $73.00 would account for a 4.58% increase from the current share price.
Stock Yards Bancorp Inc operates as a bank. The bank has two reportable operating segments namely Commercial Banking and Wealth management and trust. Its services include loan and deposit services, cash management services, securities brokerage activities, mortgage origination, and others. It generates a majority of its revenue from the Commercial Banking segment.
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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Posted In: SYBT
