Insider Selling: Stock Yards Bancorp (NASDAQ:SYBT) Director Sells $588,756.67 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Laura Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total value of $588,756.67. Following the sale, the director directly owned 9,580 shares of the company’s stock, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Stock Yards Bancorp Stock Down 0.5%

Stock Yards Bancorp stock traded down $0.39 during mid-day trading on Monday, reaching $84.71. 58,590 shares of the company were exchanged, compared to its average volume of 174,817. Stock Yards Bancorp, Inc. has a 12-month low of $61.51 and a 12-month high of $89.21. The business has a fifty day moving average of $76.44 and a 200 day moving average of $71.14. The firm has a market cap of $2.50 billion, a P/E ratio of 16.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.23. The company had revenue of $114.67 million for the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%. Research analysts anticipate that Stock Yards Bancorp, Inc. will post 5.15 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 25.50%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Raymond James Financial initiated coverage on Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus target price of $88.00.

Institutional Investors Weigh In On Stock Yards Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYBT. Quarry LP purchased a new position in shares of Stock Yards Bancorp in the third quarter valued at approximately $28,000. Brown Brothers Harriman & Co. purchased a new position in Stock Yards Bancorp in the 3rd quarter valued at $45,000. Empowered Funds LLC purchased a new position in Stock Yards Bancorp in the 4th quarter valued at $60,000. Covestor Ltd boosted its stake in Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after purchasing an additional 678 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Stock Yards Bancorp during the first quarter worth $85,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

About Stock Yards Bancorp

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.