Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 4,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Laura L. Wells sold 4,000 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total value of $312,000.00. Following the completion of the transaction, the director now directly owns 14,954 shares of the company’s stock, valued at $1,166,412. This represents a 21.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stock Yards Bancorp Stock Down 2.4%

SYBT opened at $74.72 on Friday. Stock Yards Bancorp, Inc. has a 1-year low of $46.59 and a 1-year high of $79.85. The stock’s fifty day simple moving average is $72.88 and its 200 day simple moving average is $72.57. 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 stock has a market cap of $2.20 billion, a PE ratio of 19.21 and a beta of 0.72.

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

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Monday, June 16th. Stock Yards Bancorp’s payout ratio is currently 29.95%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sippican Capital Advisors grew its position in Stock Yards Bancorp by 0.8% in the first quarter. Sippican Capital Advisors now owns 17,984 shares of the bank’s stock valued at $1,242,000 after acquiring an additional 140 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Stock Yards Bancorp by 0.6% in the fourth quarter. Corient Private Wealth LLC now owns 25,140 shares of the bank’s stock worth $1,800,000 after acquiring an additional 152 shares during the period. Cerity Partners LLC lifted its stake in shares of Stock Yards Bancorp by 0.9% in the fourth quarter. Cerity Partners LLC now owns 18,713 shares of the bank’s stock worth $1,339,000 after acquiring an additional 160 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Stock Yards Bancorp by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank’s stock worth $192,000 after acquiring an additional 171 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its stake in Stock Yards Bancorp by 0.9% in the fourth quarter. Thoroughbred Financial Services LLC now owns 23,771 shares of the bank’s stock valued at $1,702,000 after buying an additional 215 shares during the period. Institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SYBT. Wall Street Zen cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the company a “neutral” rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Finally, Stephens upped their price target on 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. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus 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.