Stock Yards Bancorp (NASDAQ:SYBT) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

SYBT has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Piper Sandler restated a “neutral” rating and issued a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, March 6th. Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Finally, Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and an average target price of $76.00.

Stock Yards Bancorp Stock Up 1.2%

The business has a 50-day simple moving average of $71.92 and a 200-day simple moving average of $68.80. 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 has a market cap of $2.24 billion, a P/E ratio of 15.61 and a beta of 0.69.

Stock Yards Bancorp (NASDAQ:SYBT) last posted 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. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The business had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. Analysts expect that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio is currently 26.34%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently modified their holdings of SYBT. AQR Capital Management LLC boosted its stake in 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 buying an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after acquiring an additional 658 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Stock Yards Bancorp by 28.8% in 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 in the last quarter. Jane Street Group LLC acquired a new position in Stock Yards Bancorp during the 1st quarter worth about $3,400,000. Finally, Cetera Investment Advisers bought a new stake in shares of Stock Yards Bancorp during the second quarter valued at approximately $365,000. 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.