Insider Selling: Stock Yards Bancorp Inc. (SYBT) Insider Sells $138,757.50 in Stock
Stock Yards Bancorp Inc. (NASDAQ:SYBT) insider Philip Poindexter sold 3,150 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $44.05, for a total value of $138,757.50. Following the sale, the insider now owns 21,624 shares of the company’s stock, valued at $952,537.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) opened at 41.20 on Thursday. The company’s 50 day moving average price is $36.63 and its 200 day moving average price is $31.51. The company has a market capitalization of $930.09 million, a P/E ratio of 23.37 and a beta of 0.63. Stock Yards Bancorp Inc. has a 12 month low of $22.67 and a 12 month high of $44.35.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Stock Yards Bancorp had a return on equity of 13.36% and a net margin of 28.18%. Analysts expect that Stock Yards Bancorp Inc. will post $1.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Monday, December 12th will be issued a dividend of $0.19 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, December 8th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 40.68%.
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A number of hedge funds have recently modified their holdings of the company. Boston Private Wealth LLC increased its stake in Stock Yards Bancorp by 35.2% in the third quarter. Boston Private Wealth LLC now owns 13,405 shares of the company’s stock worth $442,000 after buying an additional 3,490 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Stock Yards Bancorp during the third quarter worth about $3,542,000. Citadel Advisors LLC purchased a new stake in Stock Yards Bancorp during the third quarter worth about $294,000. Morgan Stanley increased its stake in Stock Yards Bancorp by 213.8% in the third quarter. Morgan Stanley now owns 35,018 shares of the company’s stock worth $1,155,000 after buying an additional 23,859 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Stock Yards Bancorp by 3.4% in the third quarter. Northern Trust Corp now owns 283,496 shares of the company’s stock worth $9,344,000 after buying an additional 9,430 shares in the last quarter. Institutional investors and hedge funds own 43.50% of the company’s stock.
SYBT has been the subject of a number of recent analyst reports. Hilliard Lyons downgraded Stock Yards Bancorp from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 27th. Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th.
Stock Yards Bancorp Company Profile
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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