Stock Yards Bancorp (NASDAQ:SYBT) Sets New 1-Year High – What’s Next?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s share price hit a new 52-week high on Monday . The stock traded as high as $79.85 and last traded at $78.17, with a volume of 8458 shares trading hands. The stock had previously closed at $75.95.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SYBT shares. Keefe, Bruyette & Woods reduced their target price on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, Stephens boosted their price objective on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th.

Stock Yards Bancorp Price Performance

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’s 50 day simple moving average is $69.41 and its two-hundred day simple moving average is $71.95. The firm has a market capitalization of $2.30 billion, a PE ratio of 20.07 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.13. The business had revenue of $93.63 million during the quarter, compared to analysts’ expectations of $92.90 million. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the prior year, the company posted $0.88 EPS. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio is presently 29.95%.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 1,581 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $74.00, for a total value of $116,994.00. Following the sale, the director now directly owns 82,070 shares in the company, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Large investors have recently modified their holdings of the stock. Baron Silver Stevens Financial Advisors LLC acquired a new position in Stock Yards Bancorp during the fourth quarter worth about $749,000. Barclays PLC grew its stake in Stock Yards Bancorp by 137.8% in the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank’s stock worth $2,840,000 after acquiring an additional 26,537 shares during the period. JPMorgan Chase & Co. increased its stake in Stock Yards Bancorp by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank’s stock valued at $1,390,000 after purchasing an additional 1,360 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Stock Yards Bancorp during the 4th quarter worth about $1,193,000. Finally, SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp in the 4th quarter valued at $453,000. Hedge funds and other 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.