Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Sells 2,650 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the completion of the transaction, the executive vice president now owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $76.11 on Friday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $77.82. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $66.06 and a 200 day moving average price of $57.43.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The firm had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Research analysts predict that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

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

Institutional Trading of Stock Yards Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp during the second quarter worth approximately $45,000. Quantbot Technologies LP boosted its holdings in shares of Stock Yards Bancorp by 151.2% in the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after acquiring an additional 1,367 shares in the last quarter. FMR LLC increased its stake 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 acquiring an additional 167 shares during the period. Wesbanco Bank Inc. purchased a new position in Stock Yards Bancorp during the third quarter worth about $206,000. Finally, Ballentine Partners LLC purchased a new stake in Stock Yards Bancorp in the 3rd quarter valued at approximately $219,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. 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 report on Thursday, October 24th. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.25.

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.