Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 1,581 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 1,581 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $74.00, for a total value of $116,994.00. Following the transaction, the director now owns 82,070 shares of the company’s stock, valued at $6,073,180. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Stock Yards Bancorp Price Performance

NASDAQ SYBT opened at $74.19 on Tuesday. The firm’s 50-day simple moving average is $69.11 and its two-hundred day simple moving average is $71.41. Stock Yards Bancorp, Inc. has a 52 week low of $44.32 and a 52 week high of $79.79. The company has a market cap of $2.19 billion, a PE ratio of 19.07 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The business had revenue of $93.63 million for the quarter, compared to analysts’ expectations of $92.90 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. Research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio is currently 29.95%.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its position in shares of Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank’s stock worth $27,000 after purchasing an additional 232 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Stock Yards Bancorp by 1,077.5% during the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock worth $34,000 after purchasing an additional 431 shares during the period. Principal Securities Inc. boosted its position in Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. Kentucky Trust Co bought a new position in Stock Yards Bancorp in the 4th quarter worth about $44,000. Finally, Sterling Capital Management LLC raised its position in Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock valued at $58,000 after purchasing an additional 718 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SYBT shares. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods reduced their price target on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Finally, Stephens lifted their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th.

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.