Market Overview

UPDATE: D.A. Davidson Initiates Coverage on S.Y. Bancorp on Good Growth Story, Strong Profitability

Share:

In a report published Thursday, D.A. Davidson & Co. analyst Stephen Geyen initiated coverage on S.Y. Bancorp (NASDAQ: SYBT) with a Buy rating and $33.00 price target.

In the report, D.A. Davidson & Co. noted, “SYBT shares trade at an approximate 0.7-point P/E multiple discount based on 2013 EPS versus the SNL small-cap bank peer group median of 15.1x. In our view, the discount is unjustified considering the bank's forecast ROA of 1.24% is 25bp above the peer group median and its forecast loan growth is in an above peer 6%-8% range.”

S.Y. Bancorp closed on Wednesday at $28.12.

Latest Ratings for SYBT

DateFirmActionFromTo
Jul 2020Raymond JamesMaintainsOutperform
May 2020Raymond JamesUpgradesMarket PerformOutperform
Apr 2020Stephens & Co.UpgradesEqual-WeightOverweight

View More Analyst Ratings for SYBT
View the Latest Analyst Ratings

 

Related Articles (SYBT)

View Comments and Join the Discussion!

Posted-In: D.A. Davidson & Co. Stephen GeyenAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
XNCRSVB LeerinkMaintains42.0
TWLOPiper SandlerMaintains300.0
TECHSVB LeerinkMaintains285.0
PAYCPiper SandlerUpgrades328.0
ZBHSVB LeerinkMaintains153.0
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 vipaccounts@benzinga.com