Stock Yards Bancorp (NASDAQ:SYBT) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $70.17 and traded as high as $81.36. Stock Yards Bancorp shares last traded at $81.34, with a volume of 146,457 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYBT. Wall Street Zen downgraded shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Stephens raised their price objective on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. Piper Sandler reaffirmed a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stock Yards Bancorp in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.75.

Stock Yards Bancorp Stock Performance

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 16.74 and a beta of 0.68. The stock has a 50 day moving average price of $74.31 and a two-hundred day moving average price of $70.17.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The business had revenue of $102.63 million during the quarter, compared to analysts’ expectations of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. Analysts predict that Stock Yards Bancorp, Inc. will post 5 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.34%.

Insider Activity

In other news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SYBT. GAMMA Investing LLC boosted its position in shares of Stock Yards Bancorp by 44.8% during the second quarter. GAMMA Investing LLC now owns 4,056 shares of the bank’s stock worth $310,000 after purchasing an additional 1,255 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Stock Yards Bancorp by 24.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,518 shares of the bank’s stock valued at $631,000 after buying an additional 1,898 shares during the period. Entropy Technologies LP bought a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at $247,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at $1,677,000. Finally, Sei Investments Co. increased its position in shares of Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after buying an additional 35,592 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.