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

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $72.41 and traded as high as $79.81. Stock Yards Bancorp shares last traded at $78.98, with a volume of 155,166 shares trading hands.

Analyst Ratings Changes

SYBT has been the subject of a number of recent research reports. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. Stephens boosted their price objective on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, Stock Yards Bancorp has an average rating of "Hold" and a consensus target price of $77.25.

Stock Yards Bancorp Stock Up 1.4%

The company's 50-day moving average is $75.27 and its 200 day moving average is $72.47. The stock has a market capitalization of $2.41 billion, a PE ratio of 19.74 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.34.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.00 by $0.13. The business had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a net margin of 23.34% and a return on equity of 13.02%. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed 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. This represents a $1.24 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Monday, June 16th. Stock Yards Bancorp's payout ratio is 29.95%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $74.00, for a total transaction of $116,994.00. Following the completion of the transaction, the director directly owned 82,070 shares in the company, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Dishman sold 2,802 shares of the company'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 value of $218,836.20. Following the completion of the sale, the executive vice president owned 31,594 shares in the company, valued at approximately $2,467,491.40. This represents a 8.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,902 shares of company stock valued at $1,296,210 in the last three months. Company insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Stock Yards Bancorp by 120.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock worth $76,953,000 after buying an additional 586,550 shares during the period. Norges Bank purchased a new stake in Stock Yards Bancorp during the 4th quarter worth approximately $5,761,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $4,891,000. Nuveen LLC purchased a new stake in shares of Stock Yards Bancorp during the first quarter worth approximately $4,698,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Stock Yards Bancorp by 4.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank's stock worth $88,289,000 after purchasing an additional 60,183 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

About Stock Yards Bancorp

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.