William Dishman Sells 2,802 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP William Dishman sold 2,802 shares of Stock Yards Bancorp stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total transaction of $218,836.20. Following the completion of the sale, the executive vice president now owns 31,594 shares of the company’s stock, valued at $2,467,491.40. This represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $76.99 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a fifty day moving average price of $74.41 and a 200 day moving average price of $72.45. Stock Yards Bancorp, Inc. has a fifty-two week low of $46.70 and a fifty-two week high of $79.85. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 18.60 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 23.34% and a return on equity of 13.02%. The firm had revenue of $93.63 million during the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, June 16th. This represents a $1.24 annualized dividend and a yield of 1.61%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 29.95%.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd raised its stake in shares of Stock Yards Bancorp by 164.5% in the fourth quarter. Covestor Ltd now owns 373 shares of the bank’s stock valued at $27,000 after acquiring an additional 232 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Stock Yards Bancorp by 1,077.5% in the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock valued at $34,000 after acquiring an additional 431 shares during the period. Principal Securities Inc. raised its stake in shares of Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after acquiring an additional 260 shares during the period. Sterling Capital Management LLC raised its stake in shares of Stock Yards Bancorp by 806.7% in the fourth quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock valued at $58,000 after acquiring an additional 718 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Stock Yards Bancorp by 126.2% in the fourth quarter. Allworth Financial LP now owns 846 shares of the bank’s stock valued at $63,000 after acquiring an additional 472 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analysts Set New Price Targets

SYBT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Stephens upped their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, Stock Yards Bancorp currently has a consensus rating of “Hold” and a consensus price target of $77.25.

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.