Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman Sells 2,700 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the transaction, the director now owns 29,786 shares in the company, valued at $1,878,603.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock traded down $1.03 during trading on Monday, hitting $62.63. 39,018 shares of the company were exchanged, compared to its average volume of 91,438. Stock Yards Bancorp, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $65.00. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.73 and a beta of 0.82. The firm has a 50 day moving average price of $58.65 and a 200 day moving average price of $50.97. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data 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 net margin of 21.99% and a return on equity of 12.18%. The company had revenue of $123.96 million during the quarter, compared to the consensus estimate of $83.90 million. On average, equities analysts expect that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.83%.

Hedge Funds Weigh In On Stock Yards Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Independence Bank of Kentucky increased its holdings in Stock Yards Bancorp by 1.4% in the second quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock valued at $714,000 after buying an additional 202 shares during the last quarter. Diversified Trust Co increased its stake in Stock Yards Bancorp by 2.3% during the second quarter. Diversified Trust Co now owns 10,141 shares of the bank’s stock valued at $504,000 after purchasing an additional 231 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Stock Yards Bancorp by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Stock Yards Bancorp by 10.3% during the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after purchasing an additional 494 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Stock Yards Bancorp in the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SYBT shares. Stephens lifted their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Hovde Group raised their price objective on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $65.50 target price on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.88.

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.