Laura Wells Sells 6,823 Shares of Stock Yards Bancorp (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Laura Wells sold 6,823 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the transaction, the director owned 9,580 shares in the company, valued at approximately $826,658.20. The trade was a 41.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Stock Yards Bancorp Stock Down 0.5%

Shares of NASDAQ SYBT traded down $0.39 during midday trading on Monday, hitting $84.71. 58,590 shares of the stock traded hands, compared to its average volume of 174,817. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Stock Yards Bancorp, Inc. has a one year low of $61.51 and a one year high of $89.21. The business has a 50 day moving average price of $76.44 and a two-hundred day moving average price of $71.14. The company has a market cap of $2.50 billion, a PE ratio of 16.87 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%.The company had revenue of $114.67 million for the quarter, compared to analysts’ expectations of $111.66 million. On average, equities analysts predict that Stock Yards Bancorp, Inc. will post 5.15 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio is presently 25.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after purchasing an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Stock Yards Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock worth $1,051,000 after purchasing an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Stock Yards Bancorp by 28.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after buying an additional 11,758 shares during the period. Jane Street Group LLC bought a new position in shares of Stock Yards Bancorp during the first quarter valued at approximately $3,400,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Stock Yards Bancorp in the second quarter worth approximately $365,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SYBT shares. Piper Sandler reissued a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Stephens set a $87.00 price objective on shares of Stock Yards Bancorp and gave the company an “equal weight” rating in a research note on Thursday. Raymond James Financial started coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating for the company. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp has a consensus rating of “Hold” and an average price target of $88.00.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.