Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 10,000 Shares of Stock

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

Stock Yards Bancorp Price Performance

SYBT stock opened at $73.28 on Thursday. The business’s fifty day moving average price is $65.43 and its 200 day moving average price is $57.11. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $77.82. 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 company has a market capitalization of $2.16 billion, a PE ratio of 20.13 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly 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 net margin of 21.62% and a return on equity of 12.00%. The company had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler raised their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.25.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of Stock Yards Bancorp by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 150,403 shares of the bank’s stock worth $7,356,000 after acquiring an additional 5,786 shares during the period. ProShare Advisors LLC grew its stake in Stock Yards Bancorp by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Stock Yards Bancorp by 85.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the bank’s stock worth $701,000 after purchasing an additional 6,590 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in 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 worth $57,139,000 after purchasing an additional 50,730 shares during the period. Finally, Bessemer Group Inc. raised its position in Stock Yards Bancorp by 7.8% in the 1st quarter. Bessemer Group Inc. now owns 15,555 shares of the bank’s stock valued at $760,000 after purchasing an additional 1,130 shares in the last quarter. 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.