Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman Sells 3,500 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 3,500 shares of Stock Yards Bancorp stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the transaction, the director now directly owns 21,411 shares in the company, valued at $1,672,199.10. This trade represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $77.77 on Wednesday. Stock Yards Bancorp, Inc. has a 1-year low of $42.35 and a 1-year high of $79.70. The firm has a market cap of $2.29 billion, a P/E ratio of 21.37 and a beta of 0.81. 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 firm has a 50-day moving average of $66.40 and a 200-day moving average of $57.78.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. Sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s payout ratio is currently 34.07%.

Analyst Ratings Changes

SYBT has been the subject of several analyst reports. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th. Finally, Piper Sandler increased their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Stock Yards Bancorp during the second quarter valued at about $45,000. Quantbot Technologies LP boosted its position in Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after acquiring an additional 1,367 shares in the last quarter. FMR LLC grew its holdings in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after acquiring an additional 167 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Finally, Ballentine Partners LLC bought a new position in shares of Stock Yards Bancorp in the 3rd quarter worth approximately $219,000. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Company Profile

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.