Stock Yards Bancorp (NASDAQ:SYBT) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Stock Yards Bancorp's share price recently crossed above its 200-day moving average, indicating a potential bullish trend, with the current trading price at $75.57 against a 200-day average of $73.69.
• Brokerage reports show positive adjustments in target prices for SYBT, with increases from Keefe, Bruyette & Woods and Piper Sandler, suggesting investor confidence in the company's future performance.
• Insider trading activity has been notable, with company executives selling a total of 10,902 shares recently, indicating possible caution in stock performance amid recent gains.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $73.69 and traded as high as $75.60. Stock Yards Bancorp shares last traded at $75.57, with a volume of 71,594 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SYBT shares. Piper Sandler increased their price target on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen cut Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, 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. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $79.75.

Stock Yards Bancorp Trading Up 5.8%

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $77.35 and a 200 day moving average of $73.78. The company has a market cap of $2.40 billion, a P/E ratio of 18.75 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The company had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.32 million. On average, analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, September 15th. This is a positive change from Stock Yards Bancorp's previous quarterly dividend of $0.31. Stock Yards Bancorp's dividend payout ratio is currently 28.51%.

Insider Activity at Stock Yards Bancorp

In related news, EVP William Dishman sold 2,802 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total transaction of $218,836.20. Following the sale, the executive vice president owned 31,594 shares in the company, valued at $2,467,491.40. This represents a 8.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura L. Wells sold 4,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total value of $312,000.00. Following the sale, the director owned 14,954 shares in the company, valued at approximately $1,166,412. The trade was a 21.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,902 shares of company stock worth $846,782 in the last 90 days. Corporate insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYBT. Huntington National Bank boosted its holdings in Stock Yards Bancorp by 1,405.6% in the second quarter. Huntington National Bank now owns 1,084 shares of the bank's stock worth $86,000 after acquiring an additional 1,012 shares in the last quarter. Archer Investment Corp bought a new position in Stock Yards Bancorp in the second quarter worth approximately $105,000. Tower Research Capital LLC TRC boosted its holdings in Stock Yards Bancorp by 18.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock worth $110,000 after acquiring an additional 234 shares in the last quarter. KBC Group NV bought a new position in Stock Yards Bancorp in the first quarter worth approximately $114,000. Finally, Aquatic Capital Management LLC boosted its holdings in Stock Yards Bancorp by 53.4% in the fourth quarter. Aquatic Capital Management LLC now owns 2,762 shares of the bank's stock worth $198,000 after acquiring an additional 962 shares in the last quarter. Institutional investors own 56.46% of the company's stock.

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.