Stock Yards Bancorp (NASDAQ:SYBT) Shares Cross Above 200 Day Moving Average – Should You Sell?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $67.88 and traded as high as $72.00. Stock Yards Bancorp shares last traded at $71.31, with a volume of 171,337 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on SYBT shares. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, March 6th. Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Finally, Piper Sandler reissued a “neutral” rating and issued a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.00.

Stock Yards Bancorp Price Performance

The stock’s 50-day moving average is $69.65 and its 200-day moving average is $67.90. The firm has a market cap of $2.12 billion, a P/E ratio of 14.76 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The business had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. As a group, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th. Stock Yards Bancorp’s payout ratio is 26.34%.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president owned 53,376 shares of the company’s stock, valued at $3,772,615.68. The trade was a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of SYBT. Quarry LP bought a new stake in Stock Yards Bancorp in the 3rd quarter valued at $28,000. Brown Brothers Harriman & Co. bought a new stake in Stock Yards Bancorp in the 3rd quarter valued at $45,000. GAMMA Investing LLC increased its holdings in Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after buying an additional 396 shares during the period. Empowered Funds LLC acquired a new stake in shares of Stock Yards Bancorp in the 4th quarter valued at $60,000. Finally, Covestor Ltd boosted its stake in shares of Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after purchasing an additional 678 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.