David P. Heintzman Sells 3,000 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 3,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $74.59, for a total value of $223,770.00. Following the completion of the sale, the director now owns 30,150 shares in the company, valued at approximately $2,248,888.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Stock Yards Bancorp Stock Down 3.6 %

SYBT stock traded down $2.66 during trading on Thursday, reaching $72.19. 150,294 shares of the company traded hands, compared to its average volume of 106,014. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $76.37. The business has a 50 day simple moving average of $62.44 and a 200 day simple moving average of $55.15. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 20.56 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.20% and a net margin of 21.62%. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.07%.

Wall Street Analyst Weigh In

SYBT has been the topic of a number of recent research reports. Stephens increased their price target on Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Piper Sandler increased their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.75.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in SYBT. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp in the second quarter worth about $45,000. Quantbot Technologies LP acquired a new stake in Stock Yards Bancorp in the first quarter worth about $195,000. Wesbanco Bank Inc. acquired a new stake in Stock Yards Bancorp in the third quarter worth about $206,000. Ballentine Partners LLC purchased a new position in shares of Stock Yards Bancorp in the third quarter worth about $219,000. Finally, Bridges Investment Management Inc. purchased a new position in Stock Yards Bancorp during the third quarter valued at approximately $238,000. 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.