Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $730,800.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) 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 completion of the sale, the director now directly owns 87,070 shares of the company's stock, valued at $6,363,075.60. The trade was 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.

Stock Yards Bancorp Stock Up 0.2 %

Shares of SYBT traded up $0.13 during midday trading on Monday, hitting $73.38. 90,723 shares of the company's stock traded hands, compared to its average volume of 106,847. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 20.16 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $77.82. The firm's fifty day moving average is $64.52 and its 200-day moving average is $56.62.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million during the quarter, compared to analysts' expectations of $87.57 million. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. This is a boost from Stock Yards Bancorp's previous quarterly dividend of $0.30. The ex-dividend date was Monday, September 16th. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 34.07%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler boosted their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $70.00 to $76.00 in a report on Friday. Hovde Group lowered Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Stock Yards Bancorp has an average rating of "Hold" and a consensus target price of $69.25.

Institutional Trading of Stock Yards Bancorp

Several large investors have recently made changes to their positions in the business. Stock Yards Bank & Trust Co. lifted its position in Stock Yards Bancorp by 0.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank's stock valued at $60,755,000 after purchasing an additional 9,573 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Stock Yards Bancorp by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank's stock valued at $57,139,000 after buying an additional 50,730 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Stock Yards Bancorp by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank's stock valued at $46,536,000 after buying an additional 24,856 shares during the period. State Street Corp boosted its stake in shares of Stock Yards Bancorp by 2.0% in the third quarter. State Street Corp now owns 778,497 shares of the bank's stock worth $48,506,000 after buying an additional 15,156 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Stock Yards Bancorp by 0.9% during the third quarter. Geode Capital Management LLC now owns 636,744 shares of the bank's stock worth $39,480,000 after acquiring an additional 5,391 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

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.