Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 7,659 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 7,659 shares of Stock Yards Bancorp stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $65.98, for a total value of $505,340.82. Following the transaction, the director now owns 99,411 shares in the company, valued at approximately $6,559,137.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Stock Yards Bancorp Price Performance

SYBT traded down $0.22 during trading on Tuesday, hitting $66.68. 6,891 shares of the stock traded hands, compared to its average volume of 103,958. Stock Yards Bancorp, Inc. has a twelve month low of $38.40 and a twelve month high of $67.12. The business has a 50 day moving average price of $61.30 and a 200 day moving average price of $54.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 18.38 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The firm had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. Stock Yards Bancorp had a return on equity of 12.20% and a net margin of 21.62%. Equities research analysts forecast that Stock Yards Bancorp, Inc. will post 3.75 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio is currently 34.07%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rosenthal Henry Capital Advisors Inc. increased its position in shares of Stock Yards Bancorp by 2.2% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 63,095 shares of the bank’s stock worth $3,911,000 after buying an additional 1,375 shares during the period. Sippican Capital Advisors lifted its stake in Stock Yards Bancorp by 21.9% in the third quarter. Sippican Capital Advisors now owns 17,354 shares of the bank’s stock valued at $1,076,000 after buying an additional 3,121 shares during the period. Ballentine Partners LLC bought a new position in Stock Yards Bancorp during the third quarter worth $219,000. Creative Planning increased its stake in Stock Yards Bancorp by 7.6% during the 3rd quarter. Creative Planning now owns 46,346 shares of the bank’s stock valued at $2,873,000 after purchasing an additional 3,289 shares in the last quarter. Finally, Wesbanco Bank Inc. bought a new stake in Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

SYBT has been the subject of several recent research reports. Stephens upped their price objective on Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Piper Sandler increased their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Stock Yards Bancorp currently has an average rating of “Hold” and an average target price of $67.75.

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.