Stock Yards Bancorp (NASDAQ:SYBT) Shares Gap Down to $58.03

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) gapped down before the market opened on Tuesday . The stock had previously closed at $58.03, but opened at $55.78. Stock Yards Bancorp shares last traded at $55.88, with a volume of 1,758 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Hovde Group boosted their price objective 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Finally, Stephens upped their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.50.

Stock Yards Bancorp Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.64 billion, a PE ratio of 15.63 and a beta of 0.83. The stock has a 50-day simple moving average of $51.28 and a 200 day simple moving average of $48.33.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS 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 company had revenue of $123.96 million for the quarter, compared to the consensus estimate of $83.90 million. Equities analysts expect that Stock Yards Bancorp, Inc. will post 3.59 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders 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 2.16%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 33.71%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director David P. Heintzman sold 6,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $62.27, for a total transaction of $373,620.00. Following the sale, the director now owns 107,070 shares in the company, valued at approximately $6,667,248.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO James A. Hillebrand sold 9,053 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the transaction, the chief executive officer now directly owns 105,450 shares of the company’s stock, valued at approximately $6,536,845.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David P. Heintzman sold 6,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $62.27, for a total value of $373,620.00. Following the transaction, the director now directly owns 107,070 shares of the company’s stock, valued at $6,667,248.90. The disclosure for this sale can be found here. Insiders have sold a total of 18,757 shares of company stock worth $1,165,177 in the last quarter. 3.90% of the stock is owned by company insiders.

Institutional Trading of Stock Yards Bancorp

Large investors have recently made changes to their positions in the company. Signaturefd LLC raised its stake in Stock Yards Bancorp by 121.7% during the 4th quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock valued at $79,000 after acquiring an additional 840 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Stock Yards Bancorp by 70.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock valued at $99,000 after acquiring an additional 799 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at approximately $165,000. Quantbot Technologies LP purchased a new stake in Stock Yards Bancorp during the 1st quarter valued at approximately $195,000. Finally, German American Bancorp Inc. purchased a new stake in Stock Yards Bancorp during the 4th quarter valued at approximately $230,000. 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.