Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) President Sells $258,305.45 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) President Philip Poindexter sold 3,419 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Stock Yards Bancorp Trading Up 3.1 %

Shares of SYBT opened at $76.11 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. Stock Yards Bancorp, Inc. has a 1-year low of $42.35 and a 1-year high of $77.82. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. The firm has a 50 day simple moving average of $66.06 and a 200-day simple moving average of $57.58.

Stock Yards Bancorp (NASDAQ:SYBT) last released 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 company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Equities analysts forecast that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, December 16th. Stock Yards Bancorp’s payout ratio is 34.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after buying an additional 167 shares in the last quarter. Independence Bank of Kentucky grew its stake in Stock Yards Bancorp by 1.4% in the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after acquiring an additional 202 shares during the period. Diversified Trust Co raised its holdings in Stock Yards Bancorp by 2.3% in the 2nd 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 last quarter. ProShare Advisors LLC lifted its stake in shares of Stock Yards Bancorp by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Stock Yards Bancorp by 10.3% during the 2nd 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. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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