Stock Yards Bancorp (NASDAQ:SYBT) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Shares crossed above the 200-day moving average, trading as high as $72.68 versus a 200-day MA of $67.32 and last at $71.17 on volume of 114,629 shares.
• Analyst sentiment is mixed after recent upgrades and downgrades, with two Buy and four Hold ratings leaving a MarketBeat consensus of "Hold" and a consensus target price of $76.00.
• The bank beat EPS estimates ($1.24 vs. $1.17) but missed revenue expectations, and it pays a $0.32 quarterly dividend (annualized $1.28) for a yield of about 1.8% and a payout ratio of 26.3%.

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $67.32 and traded as high as $72.68. Stock Yards Bancorp shares last traded at $71.17, with a volume of 114,629 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on SYBT shares. Weiss Ratings upgraded Stock Yards Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods upped their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Stephens upped their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Wall Street Zen lowered Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Finally, Hovde Group upgraded Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $76.00.

Stock Yards Bancorp Trading Down 1.0%

The stock has a 50-day moving average of $67.22 and a 200 day moving average of $67.32. The stock has a market cap of $2.10 billion, a PE ratio of 14.64 and a beta of 0.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.07. The firm had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.78% and a net margin of 25.06%. As a group, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 5.1 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, March 16th. Stock Yards Bancorp's dividend payout ratio is currently 26.34%.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $45,000. GAMMA Investing LLC boosted its position in Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank's stock worth $54,000 after purchasing an additional 396 shares in the last quarter. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp in the 4th quarter worth approximately $60,000. Finally, Covestor Ltd boosted its position in Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank's stock worth $76,000 after purchasing an additional 678 shares in the last quarter. Hedge funds and other 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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