Stock Yards Bancorp (NASDAQ:SYBT) Director Purchases $133,060.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David Hardy purchased 2,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average cost of $66.53 per share, with a total value of $133,060.00. Following the acquisition, the director owned 2,000 shares of the company’s stock, valued at $133,060. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Stock Yards Bancorp Stock Up 1.2%

NASDAQ:SYBT opened at $66.94 on Friday. The stock’s fifty day moving average price is $71.20 and its two-hundred day moving average price is $74.69. Stock Yards Bancorp, Inc. has a 52-week low of $60.75 and a 52-week high of $83.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 14.62 and a beta of 0.66.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, beating the consensus estimate of $1.15 by $0.08. The company had revenue of $120.27 million during the quarter, compared to analysts’ expectations of $100.00 million. Stock Yards Bancorp had a return on equity of 13.89% and a net margin of 24.50%. On average, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.32 dividend. The ex-dividend date was Monday, September 15th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio is 27.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SYBT. Guidance Capital Inc. raised its holdings in Stock Yards Bancorp by 1.9% in the third quarter. Guidance Capital Inc. now owns 9,982 shares of the bank’s stock worth $678,000 after purchasing an additional 186 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Stock Yards Bancorp by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,915 shares of the bank’s stock worth $657,000 after buying an additional 275 shares during the period. Arizona State Retirement System lifted its holdings in Stock Yards Bancorp by 4.0% during the first quarter. Arizona State Retirement System now owns 8,413 shares of the bank’s stock worth $581,000 after acquiring an additional 326 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Stock Yards Bancorp by 6.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,869 shares of the bank’s stock valued at $464,000 after acquiring an additional 373 shares during the period. Finally, California State Teachers Retirement System grew its stake in Stock Yards Bancorp by 1.5% in the second quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock valued at $2,031,000 after acquiring an additional 383 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYBT shares. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Piper Sandler increased their price objective on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.67.

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.