Stock Yards Bancorp (NASDAQ:SYBT) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 brokerages recently issued reports on SYBT. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th.

Stock Yards Bancorp Trading Down 1.0 %

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 stock has a fifty day moving average of $73.57 and a 200-day moving average of $63.60. The company has a market cap of $2.07 billion, a PE ratio of 19.29 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping 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 net margin of 21.62% and a return on equity of 12.00%. Sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company 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 of this dividend was Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. Stock Yards Bancorp’s payout ratio is 34.07%.

Insider Buying and Selling

In other news, EVP Michael Rehm sold 2,650 shares of the stock in a transaction that occurred on 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 directly owns 16,927 shares in the company, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Heintzman sold 2,341 shares of Stock Yards Bancorp 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 transaction, the director now directly owns 97,070 shares in the company, valued at approximately $6,411,473.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,614 shares of company stock valued at $2,347,890 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Stock Yards Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of SYBT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth $45,000. Quantbot Technologies LP lifted its position in shares of Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after buying an additional 1,367 shares during the last quarter. FMR LLC lifted its position in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after buying an additional 167 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at about $206,000. Finally, Independent Solutions Wealth Management LLC acquired a new position in Stock Yards Bancorp during the 3rd quarter valued at about $207,000. Institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.