Stock Yards Bancorp (NASDAQ:SYBT) Reaches New 12-Month High at $58.69

Stock Yards Bancorp, Inc. (NASDAQ:SYBT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $58.69 and last traded at $58.57, with a volume of 11055 shares trading hands. The stock had previously closed at $57.51.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYBT. Hovde Group lifted their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. Stephens lifted their target price on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 target price (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.50.

Stock Yards Bancorp Stock Up 3.6 %

The stock has a 50-day moving average of $49.41 and a two-hundred day moving average of $47.71. The company has a market cap of $1.87 billion, a P/E ratio of 18.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.51% and a net margin of 22.86%. The firm had revenue of $123.96 million during the quarter, compared to the consensus estimate of $83.90 million. On average, research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.48 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were given a $0.30 dividend. The ex-dividend date was Monday, June 17th. This represents a $1.20 annualized dividend and a yield of 1.89%. Stock Yards Bancorp’s payout ratio is currently 33.71%.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the sale, the director now owns 113,070 shares in the company, valued at $5,319,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Stock Yards Bancorp

Several hedge funds have recently made changes to their positions in SYBT. Signaturefd LLC increased its stake in shares of Stock Yards Bancorp by 121.7% during the fourth quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock valued at $79,000 after buying an additional 840 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Stock Yards Bancorp by 70.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock valued at $99,000 after buying an additional 799 shares during the period. SG Americas Securities LLC purchased a new position in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $165,000. Quantbot Technologies LP purchased a new position in shares of Stock Yards Bancorp during the first quarter valued at approximately $195,000. Finally, German American Bancorp Inc. purchased a new position in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $230,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.