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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $63.60 and traded as high as $72.12. Stock Yards Bancorp shares last traded at $70.20, with a volume of 91,834 shares changing hands.

Wall Street Analyst Weigh In

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

Stock Yards Bancorp Trading Down 0.6 %

The business's fifty day moving average price is $73.64 and its 200 day moving average price is $63.76. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.05 billion, a PE ratio of 19.16 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 21.62% and a return on equity of 12.00%. As a group, analysts expect that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.31 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a yield of 1.78%. Stock Yards Bancorp's dividend payout ratio is currently 34.07%.

Insider Activity

In other news, EVP Michael Rehm sold 2,650 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares of the company's stock, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David P. Heintzman sold 7,659 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $65.98, for a total value of $505,340.82. Following the completion of the sale, the director now owns 99,411 shares of the company's stock, valued at $6,559,137.78. This trade represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,614 shares of company stock worth $2,347,890. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Stock Yards Bancorp

Several hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in Stock Yards Bancorp by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 152,229 shares of the bank's stock valued at $7,561,000 after acquiring an additional 8,777 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Stock Yards Bancorp during the second quarter valued at about $649,000. Rhumbline Advisers lifted its holdings in Stock Yards Bancorp by 10.6% in the second quarter. Rhumbline Advisers now owns 43,766 shares of the bank's stock worth $2,174,000 after purchasing an additional 4,207 shares during the period. American Century Companies Inc. grew its position in Stock Yards Bancorp by 163.4% in the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank's stock valued at $7,076,000 after buying an additional 88,364 shares in the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in Stock Yards Bancorp during the 2nd quarter valued at about $1,154,000. 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.