Market Overview

UPDATE: Stifel Nicolaus Upgrades SY Bancorp to Buy


Stifel Nicolaus raises its rating on SY Bancorp (NYSE: SYBT) to Buy from Hold and establishes a $26 target price on shares as it transfers coverage between analysts.

Stifel Nicolaus says, "We are raising our rating on the shares to Buy from Hold and establishing a $26 target price that is based on the output of our discounted earnings model that projects a future earnings stream through FY14 and a derived terminal value (employs sustainable growth rate of 4.5%) both at 11.5%. Our sustainable growth rate is conservative, in our view, given a balance sheet that is projected to turn FY12 ROE of ~12.2% on TCE/TA of ~10% by YE12 and in combination with an earnings retention rate of ~58%."

SYBT closed at $23.42 a share on Tuesday.


Related Articles (SYBT)

View Comments and Join the Discussion!

Posted-In: Stifel NicolausAnalyst Color Upgrades Price Target Intraday Update Analyst Ratings

Latest Ratings

INCYSVB LeerinkMaintains87.0
FBArgus ResearchMaintains300.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at