Stock Yards Bancorp (NASDAQ:SYBT) Hits New 1-Year High - Should You Buy?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $84.62 and last traded at $84.62, with a volume of 1457 shares traded. The stock had previously closed at $66.59.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Hovde Group downgraded Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Finally, Stephens downgraded shares of Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th.

Stock Yards Bancorp Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $2.00 billion, a P/E ratio of 18.68 and a beta of 0.86. The stock's fifty day moving average is $73.87 and its 200-day moving average is $64.20.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. On average, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a yield of 1.82%. Stock Yards Bancorp's payout ratio is 34.07%.

Insider Activity

In other Stock Yards Bancorp news, President Philip Poindexter sold 3,419 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares of the company's stock, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Heintzman sold 2,341 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $66.05, for a total transaction of $154,623.05. Following the sale, the director now directly owns 97,070 shares in the company, valued at $6,411,473.50. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,614 shares of company stock valued at $2,347,890. Insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SYBT. Dimensional Fund Advisors LP increased its stake in Stock Yards Bancorp by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank's stock worth $46,536,000 after purchasing an additional 24,856 shares in the last quarter. American Century Companies Inc. grew its holdings in Stock Yards Bancorp by 163.4% during the second quarter. American Century Companies Inc. now owns 142,455 shares of the bank's stock worth $7,076,000 after purchasing an additional 88,364 shares during the period. Stock Yards Bank & Trust Co. raised its stake in Stock Yards Bancorp by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank's stock valued at $60,755,000 after buying an additional 9,573 shares during the period. Thoroughbred Financial Services LLC bought a new position in shares of Stock Yards Bancorp during the 2nd quarter worth approximately $1,154,000. Finally, Barclays PLC lifted its holdings in Stock Yards Bancorp by 137.8% during the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank's stock valued at $2,840,000 after purchasing an additional 26,537 shares during the last quarter. Institutional investors and hedge funds 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.