Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 6,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 6,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $62.27, for a total value of $373,620.00. Following the completion of the transaction, the director now owns 107,070 shares in the company, valued at $6,667,248.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Stock Yards Bancorp Stock Down 4.6 %

Stock Yards Bancorp stock opened at $59.38 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. Stock Yards Bancorp, Inc. has a 1-year low of $36.93 and a 1-year high of $64.51. The company has a market cap of $1.75 billion, a PE ratio of 16.66 and a beta of 0.83. The stock’s 50 day moving average price is $50.80 and its 200 day moving average price is $48.18.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.36% and a net margin of 21.99%. The firm had revenue of $123.96 million for the quarter, compared to the consensus estimate of $83.90 million. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.20 annualized dividend and a yield of 2.02%. Stock Yards Bancorp’s dividend payout ratio is presently 33.71%.

Analysts Set New Price Targets

Several research analysts have weighed in on SYBT shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Hovde Group lifted their target price on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Stephens lifted their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.50.

Hedge Funds Weigh In On Stock Yards Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Stock Yards Bancorp by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after purchasing an additional 33,906 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in Stock Yards Bancorp by 4.5% during the first quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after purchasing an additional 50,730 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Stock Yards Bancorp by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock worth $46,612,000 after purchasing an additional 35,851 shares during the last quarter. RMB Capital Management LLC raised its holdings in Stock Yards Bancorp by 49.7% during the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after purchasing an additional 74,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Stock Yards Bancorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the bank’s stock worth $10,925,000 after purchasing an additional 2,694 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

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.