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

Key Points

• Stock Yards Bancorp (NASDAQ:SYBT) shares moved above their 200-day moving average on Thursday, trading as high as $72.00 and last changing hands at $71.31.
• Analyst sentiment remains mixed, with the consensus rating at Hold and an average price target of $76.00. Recent actions included target increases from Stephens and Keefe, Bruyette & Woods, while other firms issued neutral or sell/hold views.
• The bank recently reported Q1 earnings of $1.24 per share, beating estimates, and also declared a quarterly dividend of $0.32 per share payable July 1. The dividend implies a 1.8% annualized yield.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $67.88 and traded as high as $72.00. Stock Yards Bancorp shares last traded at $71.31, with a volume of 171,337 shares trading hands.

Analysts Set New Price Targets

SYBT has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Stock Yards Bancorp from a "strong sell" rating to a "sell" rating in a report on Sunday, May 17th. Stephens raised their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, April 23rd. Zacks Research downgraded shares of Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. Keefe, Bruyette & Woods raised their price target 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. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $76.00.

Stock Yards Bancorp Stock Performance

The company has a market cap of $2.10 billion, a P/E ratio of 14.67 and a beta of 0.70. The business's 50 day simple moving average is $69.46 and its 200 day simple moving average is $67.88. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, topping 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 company had revenue of $102.63 million for the quarter, compared to analysts' expectations of $108.18 million. Sell-side analysts predict that Stock Yards Bancorp, Inc. will post 5.1 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 26.34%.

Insider Buying and Selling

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the sale, the president owned 53,376 shares in the company, valued at approximately $3,772,615.68. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank boosted its holdings in shares of Stock Yards Bancorp by 15.0% in the 3rd quarter. Huntington National Bank now owns 1,247 shares of the bank's stock worth $87,000 after purchasing an additional 163 shares during the period. Guidance Capital Inc. lifted its position in Stock Yards Bancorp by 1.9% in the third quarter. Guidance Capital Inc. now owns 9,982 shares of the bank's stock worth $678,000 after buying an additional 186 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Stock Yards Bancorp by 1.3% during the third quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank's stock worth $1,306,000 after buying an additional 237 shares during the period. ProShare Advisors LLC increased its position in Stock Yards Bancorp by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank's stock valued at $312,000 after acquiring an additional 310 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Stock Yards Bancorp by 1.5% in the second quarter. California State Teachers Retirement System now owns 25,710 shares of the bank's stock valued at $2,031,000 after acquiring an additional 383 shares during the period. Institutional investors 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.

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