Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 1,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Laura L. Wells sold 1,000 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the transaction, the director now directly owns 18,954 shares in the company, valued at approximately $1,459,458. This represents a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Stock Yards Bancorp Stock Down 0.4%

Shares of SYBT traded down $0.32 during trading hours on Monday, hitting $75.97. The company had a trading volume of 15,181 shares, compared to its average volume of 128,154. The company’s fifty day moving average price is $70.24 and its two-hundred day moving average price is $72.35. 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 capitalization of $2.24 billion, a PE ratio of 19.53 and a beta of 0.73. Stock Yards Bancorp, Inc. has a one year low of $44.36 and a one year high of $79.85.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.13. The company had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the previous year, the company posted $0.88 EPS. As a group, equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio is currently 29.95%.

Institutional Trading of Stock Yards Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in SYBT. Covestor Ltd grew its holdings in shares of Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank’s stock worth $27,000 after acquiring an additional 232 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Stock Yards Bancorp by 1,077.5% in 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 during the period. Principal Securities Inc. lifted its position in shares of Stock Yards Bancorp by 115.6% during the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after buying an additional 260 shares during the period. Kentucky Trust Co acquired a new stake in Stock Yards Bancorp during the 4th quarter valued at $44,000. Finally, Sterling Capital Management LLC increased its stake in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock valued at $58,000 after buying an additional 718 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. StockNews.com raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Stephens boosted their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note 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. Five investment 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 an average price target of $77.25.

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.