Stock Yards Bancorp (NASDAQ:SYBT) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Stock Yards Bancorp's share price has risen above its 200-day moving average of $73.68, reaching a high of $74.98 during trading.
• Analysts have varied opinions on the stock, with target price adjustments ranging from $81.00 to $86.00 while one firm recently downgraded it to a "sell" rating.
• The company recently reported an EPS of $1.15, exceeding analyst expectations, and announced a quarterly dividend of $0.31 per share.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report)'s share price 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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stephens increased 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 report on Thursday, April 24th. Piper Sandler increased their price objective on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods lifted their target price 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. Finally, Wall Street Zen cut Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, Stock Yards Bancorp currently has a consensus rating of "Hold" and a consensus price target of $79.75.

Stock Yards Bancorp Stock Up 1.6%

The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average price is $77.11 and its 200 day moving average price is $73.68. The firm has a market cap of $2.17 billion, a P/E ratio of 16.91 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. The firm had revenue of $97.91 million during the quarter, compared to analysts' expectations of $95.32 million. As a group, research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.24 annualized dividend and a yield of 1.7%. Stock Yards Bancorp's payout ratio is presently 28.51%.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, EVP Michael Croce sold 4,100 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total transaction of $315,946.00. Following the completion of the transaction, the executive vice president owned 24,600 shares in the company, valued at approximately $1,895,676. The trade was a 14.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura L. Wells sold 4,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total value of $312,000.00. Following the transaction, the director directly owned 14,954 shares in the company, valued at $1,166,412. This trade represents a 21.10% 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 quarter. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of Stock Yards Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Sippican Capital Advisors boosted its holdings in shares of Stock Yards Bancorp by 0.8% in the first quarter. Sippican Capital Advisors now owns 17,984 shares of the bank's stock worth $1,242,000 after buying an additional 140 shares during the period. Cerity Partners LLC lifted its position in shares of Stock Yards Bancorp by 0.9% in the 4th quarter. Cerity Partners LLC now owns 18,713 shares of the bank's stock valued at $1,339,000 after acquiring an additional 160 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Stock Yards Bancorp by 6.8% in 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. Covestor Ltd boosted its stake in Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Stock Yards Bancorp by 18.0% during 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 in the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

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.