Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 3,500 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 3,500 shares of Stock Yards Bancorp stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.10, for a total transaction of $273,350.00. Following the transaction, the director now directly owns 21,411 shares of the company’s stock, valued at approximately $1,672,199.10. This trade represents a 14.05 % 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 hyperlink.

Stock Yards Bancorp Price Performance

Shares of SYBT opened at $77.77 on Wednesday. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.70. The company has a market capitalization of $2.29 billion, a P/E ratio of 21.37 and a beta of 0.81. The firm has a 50 day moving average of $66.40 and a 200 day moving average of $57.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The firm had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. As a group, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s payout ratio is presently 34.07%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. boosted its holdings in Stock Yards Bancorp by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after purchasing an additional 9,573 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Stock Yards Bancorp by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock valued at $46,536,000 after buying an additional 24,856 shares during the period. State Street Corp boosted its stake in shares of Stock Yards Bancorp by 2.0% in the 3rd quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after buying an additional 15,156 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Stock Yards Bancorp by 0.9% in the third quarter. Geode Capital Management LLC now owns 636,744 shares of the bank’s stock worth $39,480,000 after acquiring an additional 5,391 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Stock Yards Bancorp during the third quarter valued at $30,255,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYBT. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Piper Sandler lifted their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.25.

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.