Stock Yards Bancorp (NASDAQ:SYBT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) saw unusually-strong trading volume on Friday . Approximately 1,199,380 shares were traded during mid-day trading, an increase of 983% from the previous session’s volume of 110,747 shares.The stock last traded at $71.06 and had previously closed at $73.13.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Piper Sandler upped their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the company from $67.00 to $68.00 in a research note on Thursday, October 24th.

Stock Yards Bancorp Stock Down 2.0 %

The firm has a market cap of $2.11 billion, a P/E ratio of 19.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s fifty day moving average is $72.89 and its 200 day moving average is $62.41.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. The company had revenue of $130.52 million for 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%. As a group, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, December 16th. Stock Yards Bancorp’s payout ratio is 34.07%.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,500 shares of Stock Yards Bancorp stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $78.10, for a total value of $273,350.00. Following the completion of the sale, the director now directly owns 21,411 shares in the company, valued at approximately $1,672,199.10. The trade was a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Philip Poindexter sold 3,419 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the sale, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This represents a 6.24 % decrease in their position. 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. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SYBT. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp during the second quarter worth about $45,000. Quantbot Technologies LP lifted its holdings in shares of Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after acquiring an additional 1,367 shares during the period. FMR LLC lifted its holdings in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after acquiring an additional 167 shares during the period. Wesbanco Bank Inc. acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Finally, Independent Solutions Wealth Management LLC bought a new position in Stock Yards Bancorp in the third quarter valued at approximately $207,000. 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.