Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Rehm Sells 2,650 Shares

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Rehm sold 2,650 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total value of $198,246.50. Following the sale, the executive vice president now owns 16,927 shares in the company, valued at approximately $1,266,308.87. The trade was a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Stock Yards Bancorp Stock Up 2.8 %

Stock Yards Bancorp stock traded up $2.08 during midday trading on Friday, hitting $75.87. 26,436 shares of the stock were exchanged, compared to its average volume of 106,085. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $77.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $2.23 billion, a P/E ratio of 20.84 and a beta of 0.81. The company has a 50 day moving average price of $65.74 and a two-hundred day moving average price of $57.23.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The business had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. On average, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.63%. Stock Yards Bancorp’s dividend payout ratio is currently 34.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $70.00 to $76.00 in a research note on Friday, November 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Piper Sandler increased their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.25.

Institutional Trading of Stock Yards Bancorp

Several hedge funds have recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. grew its holdings in Stock Yards Bancorp by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after buying an additional 9,573 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Stock Yards Bancorp by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after purchasing an additional 24,856 shares in the last quarter. State Street Corp raised its stake in shares of Stock Yards Bancorp by 2.0% during the third quarter. State Street Corp now owns 778,497 shares of the bank’s stock valued at $48,506,000 after purchasing an additional 15,156 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Stock Yards Bancorp by 0.9% in the third quarter. Geode Capital Management LLC now owns 636,744 shares of the bank’s stock worth $39,480,000 after purchasing an additional 5,391 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Stock Yards Bancorp in the 3rd quarter valued at about $30,255,000. Institutional investors own 56.46% of the company’s stock.

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.