Stock Yards Bancorp (NASDAQ:SYBT) President Sells $86,300.28 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the sale, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT traded up $0.12 during trading hours on Thursday, hitting $71.14. 104,368 shares of the company were exchanged, compared to its average volume of 156,528. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 14.64 and a beta of 0.70. Stock Yards Bancorp, Inc. has a 52-week low of $61.51 and a 52-week high of $83.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day moving average price is $68.48 and its 200-day moving average price is $67.64.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. The company had revenue of $102.63 million for the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. As a group, research analysts forecast that Stock Yards Bancorp, Inc. will post 5.1 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 15th. Stock Yards Bancorp’s payout ratio is currently 26.34%.

Institutional Trading of Stock Yards Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. lifted its stake in Stock Yards Bancorp by 60.7% during the 3rd quarter. Citigroup Inc. now owns 61,128 shares of the bank’s stock valued at $4,278,000 after acquiring an additional 23,093 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Stock Yards Bancorp during the 3rd quarter valued at approximately $1,932,000. Sequoia Financial Advisors LLC acquired a new stake in Stock Yards Bancorp during the 3rd quarter valued at approximately $1,638,000. Aptus Capital Advisors LLC lifted its stake in shares of Stock Yards Bancorp by 15.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 186,875 shares of the bank’s stock valued at $13,079,000 after purchasing an additional 24,686 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Stock Yards Bancorp by 146.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock valued at $7,376,000 after purchasing an additional 67,440 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on SYBT. Keefe, Bruyette & Woods boosted their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday. Piper Sandler reissued a “neutral” rating and set a $78.00 target price (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Stephens lifted their price objective on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Finally, Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.00.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.