Laura Wells Sells 6,823 Shares of Stock Yards Bancorp (NASDAQ:SYBT) Stock

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

Stock Yards Bancorp Stock Performance

SYBT opened at $85.43 on Wednesday. The business’s 50-day moving average price is $76.96 and its two-hundred day moving average price is $71.40. Stock Yards Bancorp, Inc. has a 1 year low of $61.51 and a 1 year high of $89.21. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 17.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.23. The company had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $111.66 million. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%. Equities analysts expect that Stock Yards Bancorp, Inc. will post 5.14 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SYBT. Stock Yards Bank & Trust Co. boosted its holdings in shares of Stock Yards Bancorp by 37.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock worth $86,928,000 after acquiring an additional 366,475 shares during the period. Marshall Wace LLP increased its stake in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after purchasing an additional 155,512 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Stock Yards Bancorp during the 4th quarter worth approximately $7,461,000. Millennium Management LLC lifted its holdings in Stock Yards Bancorp by 211.2% during the 4th quarter. Millennium Management LLC now owns 131,842 shares of the bank’s stock worth $8,563,000 after purchasing an additional 89,470 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in 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 owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $82.00 to $90.00 in a research note on Thursday, July 30th. Stephens set a $87.00 price objective on shares of Stock Yards Bancorp and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price target 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, July 31st. Raymond James Financial began coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research note on Friday, July 10th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.00.

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.