Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 10,000 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 10,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.08, for a total value of $730,800.00. Following the completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stock Yards Bancorp Stock Up 0.0 %

NASDAQ:SYBT opened at $73.39 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The firm 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 fifty-two week low of $42.35 and a fifty-two week high of $77.82. The firm has a 50-day simple moving average of $65.12 and a two-hundred day simple moving average of $56.99.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. Analysts predict that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Stock Yards Bancorp by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after buying an additional 24,856 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Stock Yards Bancorp by 163.4% in the second quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock worth $7,076,000 after acquiring an additional 88,364 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of 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 valued at $57,139,000 after purchasing an additional 50,730 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in Stock Yards Bancorp during the second quarter valued at approximately $1,154,000. Finally, Stock Yards Bank & Trust Co. boosted its holdings in Stock Yards Bancorp by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after purchasing an additional 9,573 shares during the last quarter. 56.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Piper Sandler upped their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and an average price target of $69.25.

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.