Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 24.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,175 shares of the bank’s stock after selling 1,000 shares during the period. OLD National Bancorp IN’s holdings in Stock Yards Bancorp were worth $227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter worth $45,000. Quantbot Technologies LP grew its stake in shares of Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares during the period. FMR LLC grew its stake in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after purchasing an additional 167 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $206,000. Finally, Independent Solutions Wealth Management LLC acquired a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $207,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock opened at $73.71 on Monday. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79. The stock has a market capitalization of $2.17 billion, a P/E ratio of 18.95 and a beta of 0.86. The firm’s 50-day moving average is $73.92 and its two-hundred day moving average is $66.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the previous year, the company posted $0.82 EPS. Equities analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.68%. Stock Yards Bancorp’s dividend payout ratio is currently 31.88%.

Insiders Place Their Bets

In related news, Director David P. Heintzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $73.08, for a total value of $730,800.00. Following the sale, the director now directly owns 87,070 shares of the company’s stock, valued at approximately $6,363,075.60. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Philip Poindexter sold 3,419 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,614 shares of company stock valued at $1,687,926 in the last ninety days. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Piper Sandler boosted their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th.

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.