Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 1,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Laura L. Wells sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the transaction, the director now owns 18,954 shares in the company, valued at approximately $1,459,458. This trade represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Stock Yards Bancorp Trading Down 0.4%

Shares of NASDAQ SYBT traded down $0.32 during midday trading on Monday, reaching $75.97. The company had a trading volume of 15,181 shares, compared to its average volume of 128,154. Stock Yards Bancorp, Inc. has a one year low of $44.36 and a one year high of $79.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $70.24 and its 200-day moving average price is $72.35. The stock has a market cap of $2.24 billion, a PE ratio of 19.53 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last posted 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. The firm had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter in the prior year, the business earned $0.88 EPS. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.31 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.63%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 29.95%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their target price on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a “neutral” rating in a report on Thursday, April 24th. Stephens upped their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Finally, StockNews.com upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.25.

Hedge Funds Weigh In On Stock Yards Bancorp

Several large investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Stock Yards Bancorp by 164.5% during the fourth quarter. Covestor Ltd now owns 373 shares of the bank’s stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. Jones Financial Companies Lllp grew its holdings 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 worth $34,000 after purchasing an additional 431 shares during the last quarter. Principal Securities Inc. grew its stake in Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after purchasing an additional 260 shares in the last quarter. Kentucky Trust Co bought a new position in Stock Yards Bancorp in the fourth quarter worth approximately $44,000. Finally, Sterling Capital Management LLC boosted its position in Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock valued at $58,000 after acquiring an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

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.