Stock Yards Bancorp (NASDAQ:SYBT) Hits New 1-Year High – Still a Buy?

Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) reached a new 52-week high during trading on Monday . The stock traded as high as $84.62 and last traded at $84.62, with a volume of 1457 shares changing hands. The stock had previously closed at $66.59.

Analyst Ratings Changes

SYBT has been the topic of several recent research reports. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Stephens lowered shares of 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 report on Friday, November 15th.

Stock Yards Bancorp Price Performance

The business’s 50 day moving average price is $73.87 and its two-hundred day moving average price is $64.09. The stock has a market cap of $1.96 billion, a P/E ratio of 18.31 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The company had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.31 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.86%. Stock Yards Bancorp’s dividend payout ratio is presently 34.07%.

Insider Transactions at Stock Yards Bancorp

In related news, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, Director David P. Heintzman sold 7,659 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $65.98, for a total transaction of $505,340.82. Following the transaction, the director now owns 99,411 shares of the company’s stock, valued at $6,559,137.78. This trade represents a 7.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,614 shares of company stock worth $2,347,890. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors have recently made changes to their positions in SYBT. Point72 Asia Singapore Pte. Ltd. purchased a new position in Stock Yards Bancorp during the 2nd quarter valued at about $45,000. Quantbot Technologies LP increased its position in Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after purchasing an additional 1,367 shares during the period. FMR LLC increased its position in Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after purchasing an additional 167 shares during the period. Wesbanco Bank Inc. purchased a new position in Stock Yards Bancorp during the 3rd quarter valued at about $206,000. Finally, Independent Solutions Wealth Management LLC purchased 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.

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.