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

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price objective (up previously from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

Stock Yards Bancorp Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day moving average is $48.95 and its two-hundred day moving average is $47.55. The stock has a market cap of $1.73 billion, a P/E ratio of 16.62 and a beta of 0.83.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.51%. The firm had revenue of $83.44 million during the quarter, compared to analysts’ expectations of $83.00 million. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.48 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, June 17th. Stock Yards Bancorp’s payout ratio is 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 company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $47.05, for a total transaction of $141,150.00. Following the completion of the sale, the director now owns 113,070 shares in the company, valued at approximately $5,319,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Stock Yards Bancorp by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after acquiring an additional 33,906 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Stock Yards Bancorp by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock valued at $57,139,000 after acquiring an additional 50,730 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Stock Yards Bancorp by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock valued at $46,612,000 after buying an additional 35,851 shares during the period. RMB Capital Management LLC grew its holdings in shares of Stock Yards Bancorp by 49.7% in the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock valued at $11,494,000 after buying an additional 74,132 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Stock Yards Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the bank’s stock valued at $10,925,000 after buying an additional 2,694 shares during the period. 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.