Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $170,289.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 2,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the transaction, the director now owns 29,786 shares of the company’s stock, valued at $1,878,603.02. The transaction was disclosed in a filing with the SEC, which is available at this link.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $61.65 on Thursday. The company has a market capitalization of $1.81 billion, a P/E ratio of 17.32 and a beta of 0.82. Stock Yards Bancorp, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $65.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $58.99 and a two-hundred day moving average price of $51.27.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. The company had revenue of $123.96 million for the quarter, compared to the consensus estimate of $83.90 million. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. Analysts expect that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.01%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, September 16th. Stock Yards Bancorp’s dividend payout ratio is 34.83%.

Institutional Trading of Stock Yards Bancorp

Several large investors have recently modified their holdings of SYBT. Point72 Asia Singapore Pte. Ltd. bought a new position in Stock Yards Bancorp during the 2nd quarter valued at approximately $45,000. Point72 Asset Management L.P. grew its position in shares of Stock Yards Bancorp by 10.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after buying an additional 494 shares during the last quarter. Creative Planning increased its stake in shares of Stock Yards Bancorp by 534.3% during the second quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after buying an additional 36,269 shares during the period. Deprince Race & Zollo Inc. raised its holdings in shares of Stock Yards Bancorp by 17.3% during the second quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock valued at $9,542,000 after acquiring an additional 28,400 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Stock Yards Bancorp by 11.3% during the second quarter. Squarepoint Ops LLC now owns 23,568 shares of the bank’s stock valued at $1,171,000 after acquiring an additional 2,389 shares in the last quarter. 56.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYBT shares. Hovde Group upped their target price on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Piper Sandler reaffirmed a “neutral” rating and set a $65.50 target price on shares of Stock Yards Bancorp in a report on Tuesday, September 10th. Finally, Stephens boosted their price target on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.88.

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.