Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $170,289.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 2,700 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the transaction, the director now directly owns 29,786 shares of the company’s stock, valued at $1,878,603.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Stock Yards Bancorp Stock Down 0.4 %

Shares of NASDAQ:SYBT opened at $61.65 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $58.99 and a two-hundred day simple moving average of $51.27. Stock Yards Bancorp, Inc. has a 12-month low of $36.93 and a 12-month high of $65.00. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 17.32 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. The firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million. On average, research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio is currently 34.83%.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in SYBT. Point72 Asia Singapore Pte. Ltd. bought a new position in Stock Yards Bancorp in the 2nd quarter valued at approximately $45,000. Point72 Asset Management L.P. raised its stake in shares of Stock Yards Bancorp by 10.3% in the second 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 last quarter. Creative Planning lifted its holdings in shares of Stock Yards Bancorp by 534.3% during the second quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after purchasing an additional 36,269 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Stock Yards Bancorp by 17.3% during the second quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock valued at $9,542,000 after buying an additional 28,400 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Stock Yards Bancorp by 11.3% in the 2nd quarter. Squarepoint Ops LLC now owns 23,568 shares of the bank’s stock worth $1,171,000 after buying an additional 2,389 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SYBT shares. Piper Sandler reissued a “neutral” rating and issued a $65.50 target price on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. Hovde Group increased their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Stephens boosted their target price on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.88.

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.