The stock of Stock Yards Bancorp Inc (NASDAQ:SYBT) hit a new 52-week high and has $66.14 target or 56.00% above today’s $42.40 share price. The 7 months bullish chart indicates low risk for the $1.02 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $66.14 price target is reached, the company will be worth $571.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 47,062 shares traded hands. Stock Yards Bancorp Inc (NASDAQ:SYBT) has risen 62.65% since April 19, 2016 and is uptrending. It has outperformed by 58.79% the S&P500.
According to Zacks Investment Research, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky.”
Insitutional Activity: The institutional sentiment increased to 1.69 in 2016 Q2. Its up 0.64, from 1.05 in 2016Q1. The ratio increased, as 5 funds sold all Stock Yards Bancorp Inc shares owned while 39 reduced positions. 13 funds bought stakes while 33 increased positions. They now own 18.52 million shares or 192.09% more from 6.34 million shares in 2016Q1.
Moreover, Royal National Bank Of Canada has 0% invested in Stock Yards Bancorp Inc (NASDAQ:SYBT) for 1,657 shares. Envestnet Asset Management, a Illinois-based fund reported 9,009 shares. Blackrock last reported 6,099 shares in the company. The Massachusetts-based Panagora Asset has invested 0.02% in Stock Yards Bancorp Inc (NASDAQ:SYBT). The New York-based Alliancebernstein Ltd Partnership has invested 0% in Stock Yards Bancorp Inc (NASDAQ:SYBT). Aston Asset Mgmt Limited Liability Com last reported 20,869 shares in the company. Ladenburg Thalmann Services accumulated 0% or 261 shares. Teachers Inc holds 0% or 47,418 shares in its portfolio. Moreover, Nationwide Fund Advsrs has 0% invested in Stock Yards Bancorp Inc (NASDAQ:SYBT) for 20,269 shares. Smith Asset Mngmt Group Inc Limited Partnership holds 0.01% of its portfolio in Stock Yards Bancorp Inc (NASDAQ:SYBT) for 11,465 shares. First Advsr L P has 0% invested in the company for 22,137 shares. Natl Bank Of Montreal Can has invested 0% of its portfolio in Stock Yards Bancorp Inc (NASDAQ:SYBT). Blackrock Limited Liability last reported 0% of its portfolio in the stock. River Road Asset Mngmt Limited Liability Corporation has 510,821 shares for 0.31% of their US portfolio. Mcf Advisors Llc holds 24 shares or 0% of its portfolio.
Insider Transactions: Since May 23, 2016, the stock had 24 insider buys, and 17 insider sales for $1.57 million net activity. $2,950 worth of Stock Yards Bancorp Inc (NASDAQ:SYBT) was bought by Northern Richard on Monday, July 25. 48 shares were bought by Brown J McCauley, worth $1,614 on Thursday, October 20. Shares for $91,729 were sold by THOMPSON KATHY C. EDINGER CHARLES R III bought 190 shares worth $6,084. 69 shares were bought by Herde Carl G, worth $1,976 on Monday, July 25. Shares for $89,327 were sold by HEINTZMAN DAVID P. Hillebrand James A had sold 2,800 shares worth $107,800 on Tuesday, November 8.
Another recent and important Stock Yards Bancorp Inc (NASDAQ:SYBT) news was published by Businesswire.com which published an article titled: “Stock Yards Bancorp Announces Three-for-Two Stock Split” on May 02, 2016.
SYBT Company Profile
Stock Yards Bancorp, Inc., incorporated on January 12, 1988, is the holding firm for Stock Yards Bank & Trust Company (the Bank). The Firm operates through two divisions: commercial banking, and investment management and trust. The Company’s commercial banking segment provides a range of loan and deposit products to individual clients and businesses. The commercial banking segment also includes the Company’s mortgage origination and securities brokerage activity. The Company’s investment management and trust segment provides wealth management services, including investment management, trust and estate administration, and retirement plan services. The Bank is a state chartered bank. The Bank provides commercial and personal banking services in the Louisville, Kentucky, Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets through approximately 40 banking offices. In addition to traditional commercial and personal banking activities, the Bank has an investment management and trust department offering a range of investment management, trust, employee benefit plan and estate administration, and financial planning services. The Bank also originates and sells single-family residential mortgages. In addition, the Bank offers securities brokerage services through its branch network through an arrangement with a third party broker-dealer.
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