David P. Heintzman Sells 2,700 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total transaction of $170,289.00. Following the transaction, the director now owns 29,786 shares in the company, valued at approximately $1,878,603.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT traded down $1.03 during mid-day trading on Monday, hitting $62.63. The company had a trading volume of 39,018 shares, compared to its average volume of 91,438. Stock Yards Bancorp, Inc. has a 12 month low of $36.93 and a 12 month high of $65.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $1.84 billion, a P/E ratio of 17.73 and a beta of 0.82. The business’s 50-day simple moving average is $58.65 and its 200-day simple moving average is $50.97.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. The firm had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. As a group, analysts predict that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is 34.83%.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of SYBT. Independence Bank of Kentucky raised its position in shares of Stock Yards Bancorp by 1.4% during the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock valued at $714,000 after acquiring an additional 202 shares during the last quarter. Diversified Trust Co grew its stake in Stock Yards Bancorp by 2.3% in the second quarter. Diversified Trust Co now owns 10,141 shares of the bank’s stock valued at $504,000 after acquiring an additional 231 shares during the period. ProShare Advisors LLC increased its holdings in shares of Stock Yards Bancorp by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after acquiring an additional 384 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Stock Yards Bancorp by 10.3% during the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after purchasing an additional 494 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at about $45,000. 56.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYBT shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Hovde Group lifted their target price on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Stephens raised their price target on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $65.50 target price on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.88.

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.