Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $93,030.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $62.02, for a total value of $93,030.00. Following the transaction, the director now owns 30,379 shares in the company, valued at approximately $1,884,105.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Stock Yards Bancorp Price Performance

Shares of SYBT traded down $2.92 during mid-day trading on Thursday, hitting $59.30. The company’s stock had a trading volume of 39,409 shares, compared to its average volume of 85,998. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $50.80 and a 200 day simple moving average of $48.18. The firm has a market capitalization of $1.74 billion, a P/E ratio of 16.66 and a beta of 0.83. Stock Yards Bancorp, Inc. has a 1-year low of $36.93 and a 1-year high of $64.51.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.10. The firm had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a return on equity of 12.36% and a net margin of 21.99%. Analysts predict that Stock Yards Bancorp, Inc. will post 3.59 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, June 17th. Stock Yards Bancorp’s payout ratio is currently 33.71%.

Analyst Ratings Changes

A number of analysts have weighed in on SYBT shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Stephens increased their price objective on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Hovde Group increased their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYBT. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp during the fourth quarter worth about $165,000. Raymond James & Associates increased its holdings in Stock Yards Bancorp by 3.7% in the fourth quarter. Raymond James & Associates now owns 8,775 shares of the bank’s stock valued at $452,000 after buying an additional 314 shares during the last quarter. TIAA Trust National Association bought a new position in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $249,000. Independence Bank of Kentucky bought a new position in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $544,000. Finally, Firethorn Wealth Partners LLC grew its holdings in shares of Stock Yards Bancorp by 24.0% during the fourth quarter. Firethorn Wealth Partners LLC now owns 15,482 shares of the bank’s stock valued at $797,000 after purchasing an additional 3,000 shares during the last quarter. 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.