Stock Yards Bancorp (NASDAQ:SYBT) Reaches New 52-Week High - Here's Why

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $79.85 and last traded at $78.17, with a volume of 8458 shares traded. The stock had previously closed at $75.95.

Analyst Upgrades and Downgrades

Several research firms have commented on SYBT. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Finally, Stephens upped their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th.

Stock Yards Bancorp Stock Performance

The company has a market cap of $2.30 billion, a P/E ratio of 20.07 and a beta of 0.73. The business's 50 day simple moving average is $69.41 and its 200 day simple moving average is $71.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.13. The company had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter last year, the company earned $0.88 EPS. Sell-side analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.31 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.59%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,419 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $74.71, for a total value of $255,433.49. Following the transaction, the director now owns 83,651 shares of the company's stock, valued at $6,249,566.21. This represents a 3.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

Large investors have recently modified their holdings of the company. Firethorn Wealth Partners LLC lifted its holdings in shares of Stock Yards Bancorp by 0.9% in the 4th quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank's stock valued at $1,048,000 after buying an additional 136 shares during the period. Sippican Capital Advisors raised its position in Stock Yards Bancorp by 0.8% during the first quarter. Sippican Capital Advisors now owns 17,984 shares of the bank's stock valued at $1,242,000 after acquiring an additional 140 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Stock Yards Bancorp by 0.6% in the fourth quarter. Corient Private Wealth LLC now owns 25,140 shares of the bank's stock valued at $1,800,000 after acquiring an additional 152 shares during the period. Cerity Partners LLC boosted its position in Stock Yards Bancorp by 0.9% in the 4th quarter. Cerity Partners LLC now owns 18,713 shares of the bank's stock worth $1,339,000 after purchasing an additional 160 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Stock Yards Bancorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock worth $192,000 after purchasing an additional 171 shares during the period. 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.

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