David P. Heintzman Sells 2,341 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 2,341 shares of Stock Yards Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $66.05, for a total value of $154,623.05. Following the transaction, the director now owns 97,070 shares in the company, valued at $6,411,473.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ:SYBT traded down $0.22 during midday trading on Tuesday, hitting $66.68. The company’s stock had a trading volume of 6,891 shares, compared to its average volume of 103,958. Stock Yards Bancorp, Inc. has a fifty-two week low of $38.40 and a fifty-two week high of $67.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 18.32 and a beta of 0.82. The stock’s 50 day simple moving average is $61.30 and its 200 day simple moving average is $54.09.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.20% and a net margin of 21.62%. The company had revenue of $130.52 million for the quarter, compared to the consensus estimate of $87.57 million. As a group, research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.75 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s payout ratio is currently 34.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SYBT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Piper Sandler lifted their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Stephens lifted their price target on Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.75.

Institutional Investors Weigh In On Stock Yards Bancorp

Several large investors have recently made changes to their positions in SYBT. American Century Companies Inc. grew its stake in Stock Yards Bancorp by 163.4% during the second quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock worth $7,076,000 after buying an additional 88,364 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Stock Yards Bancorp by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after buying an additional 50,730 shares in the last quarter. Creative Planning boosted its position in Stock Yards Bancorp by 534.3% in the 2nd quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after buying an additional 36,269 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Stock Yards Bancorp by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after buying an additional 33,906 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Stock Yards Bancorp by 17.3% during the second quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock valued at $9,542,000 after acquiring an additional 28,400 shares during the period. Institutional investors 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.