Stock Yards Bancorp (NASDAQ:SYBT) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $73.68 and traded as high as $74.98. Stock Yards Bancorp shares last traded at $73.90, with a volume of 88,813 shares traded.

Analyst Upgrades and Downgrades

SYBT has been the subject of several research analyst reports. Stephens raised their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods increased their price target on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler upped their target price on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.75.

Stock Yards Bancorp Stock Up 0.4%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $2.18 billion, a P/E ratio of 16.99 and a beta of 0.74. The company's fifty day moving average price is $77.13 and its 200-day moving average price is $73.68.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.51% and a net margin of 23.86%. The firm had revenue of $97.91 million for the quarter, compared to analysts' expectations of $95.32 million. Equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a $0.31 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. Stock Yards Bancorp's dividend payout ratio is presently 28.51%.

Insider Buying and Selling

In other Stock Yards Bancorp news, EVP Michael Croce sold 4,100 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total value of $315,946.00. Following the completion of the sale, the executive vice president directly owned 24,600 shares of the company's stock, valued at $1,895,676. The trade was a 14.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Dishman sold 2,802 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total transaction of $218,836.20. Following the transaction, the executive vice president directly owned 31,594 shares in the company, valued at approximately $2,467,491.40. This trade represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,902 shares of company stock valued at $923,782 in the last 90 days. Company insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of SYBT. Sippican Capital Advisors increased its stake in shares of 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 buying an additional 140 shares during the period. Cerity Partners LLC increased its position in Stock Yards Bancorp by 0.9% during the 4th quarter. Cerity Partners LLC now owns 18,713 shares of the bank's stock valued at $1,339,000 after purchasing an additional 160 shares during the period. Summit Investment Advisors Inc. increased its position in Stock Yards Bancorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock valued at $192,000 after purchasing an additional 171 shares during the period. Covestor Ltd raised its holdings in shares of Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Stock Yards Bancorp by 18.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock worth $110,000 after purchasing an additional 234 shares during the period. 56.46% of the stock is owned by institutional investors.

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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