Stock Yards Bancorp (NASDAQ:SYBT) Sees Strong Trading Volume – Time to Buy?

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) saw an uptick in trading volume on Thursday . 1,174,199 shares changed hands during mid-day trading, an increase of 585% from the previous session’s volume of 171,394 shares.The stock last traded at $75.40 and had previously closed at $75.20.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYBT. Piper Sandler upped their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the company from $67.00 to $68.00 in a report on Thursday, October 24th.

Stock Yards Bancorp Trading Down 1.1 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average is $73.96 and its 200-day moving average is $66.23. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 19.12 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the prior year, the company posted $0.82 earnings per share. Research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.03 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.31 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.67%. Stock Yards Bancorp’s dividend payout ratio is currently 31.88%.

Insider Activity

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 Wednesday, November 6th. The stock was sold at an average price of $74.59, for a total value of $223,770.00. Following the sale, the director now owns 30,150 shares of the company’s stock, valued at $2,248,888.50. The trade was a 9.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,614 shares of company stock valued at $1,687,926 in the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Trading of Stock Yards Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Firethorn Wealth Partners LLC grew its stake in Stock Yards Bancorp by 0.9% during the 4th quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank’s stock worth $1,048,000 after purchasing an additional 136 shares in the last quarter. FMR LLC raised its position in Stock Yards Bancorp by 7.5% in 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 in the last quarter. Principal Securities Inc. boosted its stake in shares of Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after buying an additional 260 shares during the period. Rhumbline Advisers grew its position in shares of Stock Yards Bancorp by 0.7% during the fourth quarter. Rhumbline Advisers now owns 41,385 shares of the bank’s stock worth $2,964,000 after buying an additional 307 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Stock Yards Bancorp by 126.2% during the fourth quarter. Allworth Financial LP now owns 846 shares of the bank’s stock worth $63,000 after buying an additional 472 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

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.