Stock Yards Bancorp Inc. (SYBT) Trading Up 1.3%
Stock Yards Bancorp Inc. (NASDAQ:SYBT)’s share price was up 1.3% during mid-day trading on Tuesday . The company traded as high as $29.96 and last traded at $29.85, with a volume of 58,867 shares trading hands. The stock had previously closed at $29.46.
Separately, Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, June 29th.
The company has a market capitalization of $662.65 million and a price-to-earnings ratio of 17.62. The stock’s 50-day moving average price is $28.33 and its 200 day moving average price is $26.34.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 27th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Analysts forecast that Stock Yards Bancorp Inc. will post $1.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Monday, June 13th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $0.72 annualized dividend and a yield of 2.44%.
In other Stock Yards Bancorp news, CEO David P. Heintzman sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $28.95, for a total transaction of $144,750.00. Following the completion of the sale, the chief executive officer now owns 166,407 shares in the company, valued at $4,817,482.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl G. Herde bought 1,089 shares of the stock in a transaction on Friday, June 24th. The shares were acquired at an average price of $27.97 per share, with a total value of $30,459.33. The disclosure for this purchase can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in Stock Yards Bancorp by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,441 shares of the company’s stock valued at $1,037,000 after buying an additional 400 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Stock Yards Bancorp by 5.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 147,380 shares of the company’s stock valued at $5,570,000 after buying an additional 7,604 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Stock Yards Bancorp by 9.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 171,263 shares of the company’s stock valued at $6,472,000 after buying an additional 14,110 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Stock Yards Bancorp by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 455,362 shares of the company’s stock valued at $17,208,000 after buying an additional 20,538 shares during the period.
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.
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