Stock Yards Bancorp, Inc. (NASDAQ:SYBT) President Sells $258,305.45 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) President Philip Poindexter sold 3,419 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the sale, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Stock Yards Bancorp Stock Up 3.1 %

Shares of Stock Yards Bancorp stock opened at $76.11 on Monday. The business has a 50-day moving average price of $66.06 and a 200 day moving average price of $57.58. Stock Yards Bancorp, Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $77.82. The firm has a market cap of $2.24 billion, a P/E ratio of 20.91 and a beta of 0.81. 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 issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

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 dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.63%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 34.07%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SYBT. Stock Yards Bank & Trust Co. grew its position in shares of Stock Yards Bancorp by 0.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock valued at $60,755,000 after buying an additional 9,573 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Stock Yards Bancorp by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock valued at $46,536,000 after acquiring an additional 24,856 shares during the period. State Street Corp grew its holdings 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 during the last quarter. Geode Capital Management LLC raised its position in shares of Stock Yards Bancorp by 0.9% during the 3rd 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 stake in shares of Stock Yards Bancorp in the 3rd quarter worth approximately $30,255,000. 56.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $70.00 to $76.00 in a report on Friday, November 15th. Piper Sandler increased their target price 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. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $69.25.

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.