Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $223,770.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 3,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total value of $223,770.00. Following the completion of the sale, the director now owns 30,150 shares in the company, valued at approximately $2,248,888.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Stock Yards Bancorp Stock Performance

SYBT opened at $73.62 on Friday. The firm has a market cap of $2.17 billion, a P/E ratio of 20.23 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $76.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. The business’s fifty day moving average is $62.94 and its 200-day moving average is $55.53.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results 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 company had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. Sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.68%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 34.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYBT shares. Piper Sandler increased their price target 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Hovde Group cut 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. Finally, Stephens increased their price objective on Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.75.

Institutional Trading of Stock Yards Bancorp

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp in the second quarter valued at about $45,000. Wesbanco Bank Inc. bought a new position in Stock Yards Bancorp in the third quarter valued at about $206,000. Ballentine Partners LLC bought a new position in Stock Yards Bancorp in the third quarter valued at about $219,000. German American Bancorp Inc. bought a new position in Stock Yards Bancorp in the third quarter valued at about $231,000. Finally, Bridges Investment Management Inc. bought a new position in Stock Yards Bancorp in the third quarter valued at about $238,000. 56.46% of the stock is owned by institutional investors and hedge funds.

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.