Stock Yards Bancorp (NASDAQ:SYBT) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $75.98 and traded as high as $77.18. Stock Yards Bancorp shares last traded at $75.52, with a volume of 136,949 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYBT. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $82.00 to $90.00 in a report on Thursday, July 30th. Keefe, Bruyette & Woods increased their target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Weiss Ratings raised shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Stephens set a $87.00 price target on shares of Stock Yards Bancorp and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Raymond James Financial assumed coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.00.

Stock Yards Bancorp Price Performance

The stock’s 50 day moving average is $79.66 and its two-hundred day moving average is $76.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $2.38 billion, a PE ratio of 15.27 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. The company had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. As a group, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 5.21 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, September 21st. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.32. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.29%.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director Laura Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the sale, the director directly owned 9,580 shares of the company’s stock, valued at approximately $826,658.20. The trade was a 41.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth $165,219,000. Field & Main Bank purchased a new stake in Stock Yards Bancorp in the second quarter valued at $82,676,000. The Manufacturers Life Insurance Company purchased a new stake in Stock Yards Bancorp in the second quarter valued at $15,848,000. Bank of America Corp DE acquired a new position in Stock Yards Bancorp in the second quarter valued at $11,330,000. Finally, Oxford Financial Group LTD. LLC acquired a new position in Stock Yards Bancorp in the second quarter valued at $11,063,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a financial holding company headquartered in Louisville, Kentucky. Through its principal subsidiary, Stock Yards Bank & Trust Company, it provides commercial and retail banking services to individuals, businesses, and institutions.

The bank offers deposit accounts, commercial and consumer lending, residential mortgage services, treasury management, online and mobile banking, and other traditional financial products. It also provides wealth management and trust services, including investment management, fiduciary administration, financial planning, and estate-related services.

Founded in 1904, Stock Yards Bank has developed a regional presence serving communities in Kentucky, southern Indiana, the greater Cincinnati area, and Indianapolis.