Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman Sells 1,581 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 1,581 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $74.00, for a total value of $116,994.00. Following the transaction, the director now owns 82,070 shares of the company’s stock, valued at $6,073,180. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Stock Yards Bancorp Trading Down 0.5 %

NASDAQ SYBT opened at $73.81 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50-day moving average is $69.09 and its 200-day moving average is $71.42. Stock Yards Bancorp, Inc. has a one year low of $44.32 and a one year high of $79.79. The firm has a market cap of $2.17 billion, a P/E ratio of 18.97 and a beta of 0.77.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The firm had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 29.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYBT. Keefe, Bruyette & Woods cut their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a report on Thursday, April 24th. Stephens increased their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the company a “neutral” rating in a research report on Thursday, April 24th.

Institutional Trading of Stock Yards Bancorp

Institutional investors have recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of Stock Yards Bancorp by 164.5% during the fourth quarter. Covestor Ltd now owns 373 shares of the bank’s stock worth $27,000 after buying an additional 232 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Stock Yards Bancorp by 1,077.5% during the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock worth $34,000 after acquiring an additional 431 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. Kentucky Trust Co bought a new stake in shares of Stock Yards Bancorp in the fourth quarter worth $44,000. Finally, Sterling Capital Management LLC boosted its holdings in Stock Yards Bancorp by 806.7% during the fourth quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock worth $58,000 after purchasing an additional 718 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

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.