Stock Yards Bancorp (NASDAQ:SYBT) Director David Hardy Purchases 2,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David Hardy bought 2,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was bought at an average price of $66.53 per share, with a total value of $133,060.00. Following the completion of the acquisition, the director owned 2,000 shares in the company, valued at $133,060. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Stock Yards Bancorp Trading Down 1.0%

NASDAQ SYBT opened at $66.17 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.32. Stock Yards Bancorp, Inc. has a 52 week low of $60.75 and a 52 week high of $83.83. The stock has a market capitalization of $1.95 billion, a PE ratio of 14.45 and a beta of 0.66. The firm has a 50 day moving average of $71.48 and a two-hundred day moving average of $74.68.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 29th. The bank reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $120.27 million for the quarter, compared to analyst estimates of $100.00 million. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.89%. As a group, research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.32 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 27.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYBT. Wall Street Zen downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Piper Sandler boosted their target price on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and an average target price of $83.67.

Hedge Funds Weigh In On Stock Yards Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank increased its holdings in shares of Stock Yards Bancorp by 1,405.6% in the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock valued at $86,000 after purchasing an additional 1,012 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at approximately $92,000. Archer Investment Corp bought a new position in shares of Stock Yards Bancorp in the 2nd quarter valued at about $105,000. Truist Financial Corp acquired a new position in Stock Yards Bancorp during the second quarter worth approximately $207,000. Finally, Sei Investments Co. bought a new stake in Stock Yards Bancorp in the 2nd quarter valued at $207,000. 56.46% of the stock is owned by institutional investors.

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.