Stock Yards Bancorp (NASDAQ:SYBT) Hits New 12-Month High – Here’s Why

Stock Yards Bancorp, Inc. (NASDAQ:SYBTGet Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $83.86 and last traded at $83.68, with a volume of 19676 shares trading hands. The stock had previously closed at $82.45.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Wall Street Zen lowered Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods raised their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Stephens boosted their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Finally, Zacks Research downgraded Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.75.

Read Our Latest Stock Analysis on Stock Yards Bancorp

Stock Yards Bancorp Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $2.50 billion, a P/E ratio of 17.42 and a beta of 0.68. The firm’s 50 day simple moving average is $75.22 and its two-hundred day simple moving average is $70.59.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.5%. Stock Yards Bancorp’s dividend payout ratio is currently 26.34%.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the transaction, the president directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. grew its holdings in Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after acquiring an additional 366,475 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Stock Yards Bancorp by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock valued at $12,191,000 after acquiring an additional 816 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Stock Yards Bancorp by 47.2% during the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after purchasing an additional 58,942 shares during the period. Marshall Wace LLP boosted its holdings in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after purchasing an additional 155,512 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Stock Yards Bancorp by 8.9% in the fourth quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock worth $10,274,000 after purchasing an additional 12,976 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

About Stock Yards Bancorp

(Get Free Report)

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.

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