Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $273,350.00 in Stock

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

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $76.87 on Friday. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79. 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 business has a fifty day simple moving average of $67.02 and a two-hundred day simple moving average of $58.12. The company has a market capitalization of $2.26 billion, a P/E ratio of 21.12 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million for 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%. On average, analysts expect that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, December 16th. Stock Yards Bancorp’s payout ratio is currently 34.07%.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp in the 2nd quarter valued at about $45,000. Quantbot Technologies LP increased its stake in Stock Yards Bancorp by 151.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares during the period. FMR LLC boosted its stake in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after purchasing an additional 167 shares during the period. Wesbanco Bank Inc. bought a new position in shares of Stock Yards Bancorp in the third quarter worth approximately $206,000. Finally, Ballentine Partners LLC purchased a new position in shares of Stock Yards Bancorp in the third quarter worth $219,000. 56.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on SYBT. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Piper Sandler raised their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.25.

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.