Stock Yards Bancorp (NASDAQ:SYBT) Shares Pass Above 200-Day Moving Average – What’s Next?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $63.60 and traded as high as $72.12. Stock Yards Bancorp shares last traded at $70.20, with a volume of 91,834 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Piper Sandler upped their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th.

Stock Yards Bancorp Stock Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $73.57 and a two-hundred day moving average price of $63.60. The firm has a market cap of $2.07 billion, a PE ratio of 19.29 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. Research analysts forecast that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. Stock Yards Bancorp’s payout ratio is presently 34.07%.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 10,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.08, for a total value of $730,800.00. Following the completion of the sale, the director now directly owns 87,070 shares in the company, valued at $6,363,075.60. This represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Philip Poindexter sold 3,419 shares of Stock Yards Bancorp stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the transaction, the president now owns 51,331 shares in the company, valued at approximately $3,878,057.05. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,614 shares of company stock worth $2,347,890. Insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Several hedge funds have recently made changes to their positions in SYBT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp during the 2nd quarter valued at approximately $45,000. Quantbot Technologies LP increased its stake in Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after acquiring an additional 1,367 shares during the last quarter. FMR LLC raised its position in Stock Yards Bancorp by 7.5% in the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after purchasing an additional 167 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $206,000. Finally, Independent Solutions Wealth Management LLC purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.