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 Stock Yards Bancorp stock in a transaction that occurred 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 owns 21,411 shares in the company, valued at approximately $1,672,199.10. This represents a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Stock Yards Bancorp Price Performance

SYBT opened at $76.87 on Friday. 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 company has a market cap of $2.26 billion, a price-to-earnings ratio of 21.12 and a beta of 0.81. The stock has a fifty day simple moving average of $67.02 and a two-hundred day simple moving average of $58.12. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. Research analysts predict that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given 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 dividend yield of 1.61%. Stock Yards Bancorp’s dividend payout ratio is currently 34.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Stock Yards Bancorp in the second quarter worth $45,000. Quantbot Technologies LP boosted its stake in Stock Yards Bancorp by 151.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares in the last quarter. FMR LLC increased its stake in Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after purchasing an additional 167 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in Stock Yards Bancorp in the third quarter worth about $206,000. Finally, Ballentine Partners LLC bought a new position in shares of Stock Yards Bancorp in the third quarter worth approximately $219,000. Institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SYBT shares. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $67.00 to $68.00 in a research note 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 stock from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Piper Sandler boosted their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.