Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 2,341 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 2,341 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the sale, the director now directly owns 97,070 shares in the company, valued at approximately $6,411,473.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $64.48 on Friday. The firm has a market cap of $1.90 billion, a P/E ratio of 17.71 and a beta of 0.82. Stock Yards Bancorp, Inc. has a 52-week low of $38.40 and a 52-week high of $67.72. The business’s 50-day moving average price is $61.66 and its 200 day moving average price is $54.32. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.20% and a net margin of 21.62%. The company had revenue of $130.52 million for the quarter, compared to the consensus estimate of $87.57 million. On average, equities research analysts expect that Stock Yards Bancorp, Inc. will post 3.74 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a dividend of $0.31 per share. The ex-dividend date was Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.92%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio is presently 34.07%.

Institutional Trading of Stock Yards Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in SYBT. Point72 Asia Singapore Pte. Ltd. purchased a new position in Stock Yards Bancorp during the second quarter worth about $45,000. Wesbanco Bank Inc. acquired a new position in Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Ballentine Partners LLC purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $219,000. Quantbot Technologies LP acquired a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at approximately $195,000. Finally, ProShare Advisors LLC boosted its stake 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 valued at $239,000 after buying an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYBT. Stephens lifted their price target on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Piper Sandler raised their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.75.

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.