Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman Sells 10,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 10,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $73.08, for a total transaction of $730,800.00. Following the transaction, the director now owns 87,070 shares in the company, valued at approximately $6,363,075.60. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Stock Yards Bancorp Trading Up 0.2 %

SYBT opened at $73.38 on Tuesday. The business’s 50-day simple moving average is $64.52 and its 200-day simple moving average is $56.62. The company has a market cap of $2.16 billion, a P/E ratio of 20.16 and a beta of 0.81. Stock Yards Bancorp, Inc. has a one year low of $42.35 and a one year high of $77.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. As a group, equities research analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler increased their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $76.00 in a research report on Friday. Finally, Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.25.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Stock Yards Bancorp during the second quarter worth about $45,000. Quantbot Technologies LP increased its position in Stock Yards Bancorp by 151.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after acquiring an additional 1,367 shares during the period. FMR LLC raised its position in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after buying an additional 167 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at $206,000. Finally, Ballentine Partners LLC bought a new stake in Stock Yards Bancorp during the third quarter worth approximately $219,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

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.