David P. Heintzman Sells 6,000 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 6,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $62.27, for a total transaction of $373,620.00. Following the transaction, the director now directly owns 107,070 shares in the company, valued at approximately $6,667,248.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Stock Yards Bancorp Trading Up 1.0 %

SYBT stock traded up $0.59 during midday trading on Tuesday, reaching $61.85. 13,786 shares of the company traded hands, compared to its average volume of 85,735. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.21 and a beta of 0.83. Stock Yards Bancorp, Inc. has a 52-week low of $36.93 and a 52-week high of $64.51. The business has a 50 day moving average of $50.24 and a 200-day moving average of $47.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. The company had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.36%. As a group, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.59 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.94%. Stock Yards Bancorp’s payout ratio is currently 33.71%.

Institutional Trading of Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in SYBT. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Stock Yards Bancorp by 46.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,071 shares of the bank’s stock valued at $401,000 after purchasing an additional 2,546 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Stock Yards Bancorp by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 152,229 shares of the bank’s stock valued at $7,561,000 after purchasing an additional 8,777 shares during the period. Independence Bank of Kentucky grew its stake in shares of Stock Yards Bancorp by 1.4% during the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after purchasing an additional 202 shares during the period. RPS Advisory Solutions LLC purchased a new position in Stock Yards Bancorp in the 2nd quarter valued at approximately $1,358,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Stock Yards Bancorp by 19.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,409 shares of the bank’s stock worth $418,000 after acquiring an additional 1,343 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SYBT shares. Hovde Group increased their target price on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Stephens upped their price objective on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and an average target price of $62.50.

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.