Stock Yards Bancorp (NASDAQ:SYBT) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

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)'s share price 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYBT. Keefe, Bruyette & Woods lifted their target price on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Stephens lifted 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 lifted their target price on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut 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 given a hold rating to the stock. According to data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of "Hold" and an average target price of $79.75.

Stock Yards Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $2.23 billion, a P/E ratio of 17.37 and a beta of 0.74. The business's 50-day simple moving average is $77.22 and its 200 day simple moving average is $73.69.

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 analysts' consensus estimates 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 business had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. As a group, equities analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Insiders Place Their Bets

In other Stock Yards Bancorp news, EVP William Dishman sold 2,802 shares of Stock Yards Bancorp stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 of the company's stock, valued at approximately $2,467,491.40. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laura L. Wells sold 4,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total transaction of $312,000.00. Following the sale, the director directly owned 14,954 shares of the company's stock, 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. In the last quarter, insiders sold 10,902 shares of company stock valued at $846,782. Company insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds have recently modified their holdings of SYBT. Wells Fargo & Company MN grew its position in shares of Stock Yards Bancorp by 34.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,890 shares of the bank's stock valued at $1,209,000 after acquiring an additional 4,368 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Stock Yards Bancorp by 17.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 8,105 shares of the bank's stock valued at $580,000 after acquiring an additional 1,217 shares during the period. Invesco Ltd. grew its position in shares of Stock Yards Bancorp by 9.8% during the 4th quarter. Invesco Ltd. now owns 50,360 shares of the bank's stock valued at $3,606,000 after acquiring an additional 4,489 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Stock Yards Bancorp during the 4th quarter valued at $835,000. Finally, Sterling Capital Management LLC grew its position in shares of Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after acquiring an additional 718 shares during the period. Institutional investors own 56.46% of the company's stock.

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.

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