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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $70.17 and traded as high as $81.36. Stock Yards Bancorp shares last traded at $81.34, with a volume of 146,457 shares changing hands.

Wall Street Analysts Forecast Growth

SYBT has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Stock Yards Bancorp from a "sell" rating to a "strong sell" rating in a research report on Sunday, July 12th. Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a "hold" rating on the stock. Zacks Research lowered shares of Stock Yards Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Finally, Piper Sandler reissued a "neutral" rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of "Hold" and a consensus target price of $76.75.

Stock Yards Bancorp Stock Performance

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $74.31 and a two-hundred day simple moving average of $70.17. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 16.74 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. The business had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. As a group, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 5 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 26.34%.

Insider Transactions at Stock Yards Bancorp

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SYBT. Raymond James Financial Inc. boosted its position in shares of Stock Yards Bancorp by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank's stock valued at $1,306,000 after acquiring an additional 237 shares in the last quarter. ProShare Advisors LLC grew its position in Stock Yards Bancorp by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 4,809 shares of the bank's stock worth $312,000 after acquiring an additional 310 shares during the last quarter. California State Teachers Retirement System raised its position in Stock Yards Bancorp by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank's stock valued at $2,031,000 after purchasing an additional 383 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $54,000 after purchasing an additional 396 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Stock Yards Bancorp by 7.5% in the fourth quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank's stock worth $370,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds 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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