David P. Heintzman Sells 10,000 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 10,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $73.08, for a total transaction of $730,800.00. Following the completion of the transaction, the director now directly owns 87,070 shares of the company’s stock, valued at approximately $6,363,075.60. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT traded up $0.82 on Monday, reaching $74.07. The stock had a trading volume of 40,478 shares, compared to its average volume of 106,621. The business’s 50-day moving average price is $64.52 and its 200 day moving average price is $56.62. The stock has a market cap of $2.18 billion, a P/E ratio of 20.12 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $77.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results 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. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. As a group, equities analysts expect that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s payout ratio is 34.07%.

Analyst Ratings Changes

Several research firms recently commented on SYBT. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Piper Sandler increased their price target 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. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $76.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.25.

Institutional Inflows and Outflows

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

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.