Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman Sells 3,500 Shares

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 3,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.10, for a total value of $273,350.00. Following the completion of the sale, the director now directly owns 21,411 shares in the company, valued at approximately $1,672,199.10. The trade was a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stock Yards Bancorp Trading Up 0.5 %

Stock Yards Bancorp stock traded up $0.35 during mid-day trading on Tuesday, hitting $77.77. The company’s stock had a trading volume of 122,071 shares, compared to its average volume of 106,763. The stock’s fifty day moving average is $66.40 and its two-hundred day moving average is $57.78. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.29 billion, a PE ratio of 21.45 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.70.

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

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%. Stock Yards Bancorp’s payout ratio is 34.07%.

Hedge Funds Weigh In On Stock Yards Bancorp

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Stock Yards Bancorp by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after acquiring an additional 24,856 shares in the last quarter. American Century Companies Inc. boosted its holdings in Stock Yards Bancorp by 163.4% in the second quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after purchasing an additional 88,364 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $1,154,000. Stock Yards Bank & Trust Co. raised its position in shares of Stock Yards Bancorp by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock valued at $60,755,000 after purchasing an additional 9,573 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Stock Yards Bancorp in the third quarter valued at about $9,082,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

SYBT has been the subject of several recent analyst reports. Piper Sandler boosted 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. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Stock Yards Bancorp presently has an average 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.