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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYBT shares. Keefe, Bruyette & Woods boosted their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Stephens raised their price target on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Piper Sandler reissued a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Finally, Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stock Yards Bancorp currently has an average rating of “Hold” and an average price target of $76.75.

Stock Yards Bancorp Price Performance

The stock has a market cap of $2.50 billion, a PE ratio of 17.42 and a beta of 0.68. The business has a fifty day simple moving average of $75.22 and a two-hundred day simple moving average of $70.59. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp Announces Dividend

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

Insider Buying and Selling

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

Institutional Trading of Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of SYBT. GAMMA Investing LLC boosted its stake in Stock Yards Bancorp by 44.8% during the second quarter. GAMMA Investing LLC now owns 4,056 shares of the bank’s stock worth $310,000 after acquiring an additional 1,255 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Stock Yards Bancorp by 24.9% during the first quarter. Quantinno Capital Management LP now owns 9,518 shares of the bank’s stock valued at $631,000 after purchasing an additional 1,898 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Stock Yards Bancorp during the first quarter valued at approximately $247,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Stock Yards Bancorp during the first quarter valued at approximately $1,677,000. Finally, Sei Investments Co. boosted its position in shares of Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock worth $3,652,000 after purchasing an additional 35,592 shares in the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.