Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Sells $198,246.50 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Rehm sold 2,650 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares in the company, valued at approximately $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $76.11 on Friday. Stock Yards Bancorp, Inc. has a 52 week low of $42.35 and a 52 week high of $77.82. The stock’s fifty day moving average is $66.06 and its two-hundred day moving average is $57.43. The company has a market capitalization of $2.24 billion, a P/E ratio of 20.91 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. The firm had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. Equities analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. Stock Yards Bancorp’s dividend payout ratio is currently 34.07%.

Wall Street Analyst Weigh In

SYBT has been the topic of a number of recent research reports. Piper Sandler boosted their price objective 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 cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.25.

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. lifted its stake in Stock Yards Bancorp by 0.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after purchasing an additional 9,573 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Stock Yards Bancorp by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock valued at $46,536,000 after buying an additional 24,856 shares during the period. State Street Corp lifted its stake in Stock Yards Bancorp by 2.0% during the 3rd quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after acquiring an additional 15,156 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Stock Yards Bancorp by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 636,744 shares of the bank’s stock valued at $39,480,000 after acquiring an additional 5,391 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Stock Yards Bancorp in the 3rd quarter valued at about $30,255,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.