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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $68.45 and traded as high as $76.49. Stock Yards Bancorp shares last traded at $73.45, with a volume of 148,900 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stephens raised their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. 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 report on Thursday, April 23rd. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Finally, Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.00.

Stock Yards Bancorp Stock Performance

The company has a market capitalization of $2.13 billion, a P/E ratio of 14.88 and a beta of 0.69. The business has a 50-day moving average of $71.60 and a 200-day moving average of $68.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The business had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. On average, sell-side analysts anticipate 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. Stockholders of record on Monday, June 15th will be given a dividend of $0.32 per share. 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 dividend payout ratio (DPR) is 26.34%.

Insider Buying and Selling 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 stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in SYBT. AQR Capital Management LLC lifted its position in shares of Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock worth $493,000 after purchasing an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Stock Yards Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock worth $1,051,000 after purchasing an additional 658 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Stock Yards Bancorp by 28.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock worth $3,636,000 after purchasing an additional 11,758 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Stock Yards Bancorp during the first quarter worth $3,400,000. Finally, Cetera Investment Advisers bought a new stake in shares of Stock Yards Bancorp during the second quarter worth $365,000. 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.