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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) President Philip Poindexter sold 3,419 shares of the business'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 sale, the president now directly owns 51,331 shares of the company's stock, valued at approximately $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Stock Yards Bancorp Trading Up 3.1 %

Shares of Stock Yards Bancorp stock traded up $2.31 during trading hours on Friday, hitting $76.11. The company's stock had a trading volume of 127,187 shares, compared to its average volume of 127,522. 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 current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $2.24 billion, a PE ratio of 20.91 and a beta of 0.81. The stock has a 50 day moving average of $66.06 and a 200 day moving average of $57.43.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping 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 business had revenue of $130.52 million during the quarter, compared to analysts' expectations of $87.57 million. Analysts predict that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.31 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.24 annualized dividend and a yield of 1.63%. Stock Yards Bancorp's dividend payout ratio is currently 34.07%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 5,391 shares in the last quarter. Barclays PLC boosted its position in Stock Yards Bancorp by 137.8% during the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank's stock worth $2,840,000 after acquiring an additional 26,537 shares during the last quarter. State Street Corp grew its stake in shares of Stock Yards Bancorp by 2.0% during the 3rd quarter. State Street Corp now owns 778,497 shares of the bank's stock worth $48,506,000 after acquiring an additional 15,156 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Stock Yards Bancorp by 35.6% in the third quarter. BNP Paribas Financial Markets now owns 12,883 shares of the bank's stock valued at $799,000 after purchasing an additional 3,385 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Stock Yards Bancorp by 7.5% in the third quarter. FMR LLC now owns 2,400 shares of the bank's stock worth $149,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 56.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SYBT shares. Hovde Group downgraded Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Stephens cut Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Piper Sandler increased their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a "neutral" rating 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $69.25.

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.