Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman Sells 3,000 Shares

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 3,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total transaction of $223,770.00. Following the transaction, the director now directly owns 30,150 shares in the company, valued at approximately $2,248,888.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Stock Yards Bancorp Price Performance

SYBT opened at $73.62 on Friday. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $76.37. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 20.23 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $62.94 and a 200 day simple moving average of $55.47.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $87.57 million. Equities research analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change 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 is presently 34.07%.

Hedge Funds Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in SYBT. BNP Paribas Financial Markets raised its holdings in Stock Yards Bancorp by 21.5% in the first quarter. BNP Paribas Financial Markets now owns 24,531 shares of the bank’s stock valued at $1,200,000 after acquiring an additional 4,342 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at about $863,000. Quantbot Technologies LP bought a new position in shares of Stock Yards Bancorp during the first quarter worth about $195,000. Russell Investments Group Ltd. grew its stake in Stock Yards Bancorp by 4.0% in the first quarter. Russell Investments Group Ltd. now owns 150,403 shares of the bank’s stock worth $7,356,000 after purchasing an additional 5,786 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Stock Yards Bancorp by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock valued at $239,000 after buying an additional 384 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYBT has been the topic of a number of research reports. Stephens raised their target price on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler raised their price objective 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 target price (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $67.00 to $68.00 in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.75.

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.