Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) Director David P. Heintzman sold 2,341 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the transaction, the director now directly owns 97,070 shares in the company, valued at $6,411,473.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Stock Yards Bancorp Stock Down 1.4 %
Shares of NASDAQ SYBT opened at $65.93 on Wednesday. Stock Yards Bancorp, Inc. has a 1 year low of $38.40 and a 1 year high of $67.12. The firm has a 50-day simple moving average of $61.30 and a two-hundred day simple moving average of $54.09. The company has a market cap of $1.94 billion, a P/E ratio of 18.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating 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. Research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.75 earnings per share for the current year.
Stock Yards Bancorp Increases Dividend
625,000% Gain
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.88%. This is a boost from Stock Yards Bancorp's previous quarterly dividend of $0.30. The ex-dividend date was Monday, September 16th. Stock Yards Bancorp's payout ratio is 34.07%.
Institutional Trading of Stock Yards Bancorp
Several institutional investors and hedge funds have recently modified their holdings of the stock. Independence Bank of Kentucky increased its holdings in Stock Yards Bancorp by 1.4% during the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank's stock worth $714,000 after purchasing an additional 202 shares during the period. Diversified Trust Co grew its position in shares of Stock Yards Bancorp by 2.3% during the 2nd quarter. Diversified Trust Co now owns 10,141 shares of the bank's stock worth $504,000 after buying an additional 231 shares in the last quarter. ProShare Advisors LLC increased its stake 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 valued at $239,000 after buying an additional 384 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Stock Yards Bancorp by 10.3% in the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank's stock valued at $263,000 after acquiring an additional 494 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stock Yards Bancorp in the second quarter worth about $45,000. Institutional investors own 56.46% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on SYBT. Hovde Group downgraded shares of Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Piper Sandler upped their price target 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. Keefe, Bruyette & Woods reaffirmed 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 note on Thursday, July 25th. Finally, Stephens upped their price target on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Stock Yards Bancorp currently has an average rating of "Hold" and an average target price of $67.75.
Read Our Latest Stock Report on Stock Yards Bancorp
Stock Yards Bancorp Company Profile
(
Get Free Report)
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.
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