Stock Yards Bancorp (NASDAQ:SYBT) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $67.88 and traded as high as $72.00. Stock Yards Bancorp shares last traded at $71.31, with a volume of 171,337 shares trading hands.

Analysts Set New Price Targets

SYBT has been the topic of several recent analyst reports. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Friday, March 6th. Keefe, Bruyette & Woods increased their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Zacks Research downgraded shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Stephens increased their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $76.00.

Stock Yards Bancorp Price Performance

The stock has a market capitalization of $2.10 billion, a PE ratio of 14.67 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $69.46 and its 200-day moving average price is $67.88.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. As a group, equities analysts forecast that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Stock Yards Bancorp’s payout ratio is presently 26.34%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Stock Yards Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank’s stock worth $136,188,000 after purchasing an additional 17,055 shares in the last quarter. Stock Yards Bank & Trust Co. raised its holdings in Stock Yards Bancorp by 37.7% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after purchasing an additional 366,475 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Stock Yards Bancorp by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock worth $12,191,000 after purchasing an additional 816 shares in the last quarter. Bank of America Corp DE raised its holdings in Stock Yards Bancorp by 47.2% in the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after purchasing an additional 58,942 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Stock Yards Bancorp by 691.5% in the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after purchasing an additional 155,512 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.