Stock Yards Bancorp (NASDAQ:SYBT) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $68.75 and traded as high as $74.69. Stock Yards Bancorp shares last traded at $74.24, with a volume of 195,938 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler reissued a “neutral” rating and set a $78.00 target price (up from $76.00) on shares of Stock Yards Bancorp in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Stephens upped their price objective on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods increased their price objective 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. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Stock Yards Bancorp Stock Up 1.2%

The stock has a 50 day moving average price of $71.86 and a 200 day moving average price of $68.75. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.28 and a beta of 0.69. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

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

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Stock Yards Bancorp’s payout ratio is presently 26.34%.

Insider Transactions at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the transaction, the president owned 53,376 shares in the company, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in SYBT. Vanguard Group Inc. increased its position in Stock Yards Bancorp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank’s stock valued at $136,188,000 after purchasing an additional 17,055 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in Stock Yards Bancorp by 37.7% during the 4th 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 during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Stock Yards Bancorp by 0.4% in the 4th 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 during the period. Bank of America Corp DE lifted its position in shares of Stock Yards Bancorp by 47.2% in the 3rd 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 during the period. Finally, Marshall Wace LLP boosted its stake in shares of Stock Yards Bancorp by 691.5% in the 4th quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after purchasing an additional 155,512 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

About Stock Yards Bancorp

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.