Stock Yards Bancorp (NASDAQ:SYBT) VP Michael Woods Sells 139 Shares of Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) VP Michael Woods sold 139 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $79.02, for a total transaction of $10,983.78. Following the completion of the transaction, the vice president directly owned 901 shares in the company, valued at $71,197.02. The trade was a 13.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Stock Yards Bancorp Price Performance

Shares of SYBT opened at $78.13 on Wednesday. The firm has a 50-day simple moving average of $81.62 and a two-hundred day simple moving average of $74.57. The stock has a market cap of $2.43 billion, a PE ratio of 15.56 and a beta of 0.66. Stock Yards Bancorp, Inc. has a 1-year low of $61.51 and a 1-year high of $89.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01.

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 analysts’ consensus estimates of $1.08 by $0.23. The firm had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 5.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be issued a $0.33 dividend. The ex-dividend date is Monday, September 21st. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.29%.

Wall Street Analysts Forecast Growth

SYBT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating on the stock. Piper Sandler restated a “neutral” rating and issued a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Weiss Ratings raised shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.00.

Institutional Trading of Stock Yards Bancorp

A number of large investors have recently made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in Stock Yards Bancorp by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock valued at $312,000 after acquiring an additional 310 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Stock Yards Bancorp by 7.5% in the 4th quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock valued at $370,000 after purchasing an additional 400 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Stock Yards Bancorp in the second quarter valued at about $31,000. Diversified Trust Co lifted its stake in shares of Stock Yards Bancorp by 5.4% in the first quarter. Diversified Trust Co now owns 8,962 shares of the bank’s stock valued at $594,000 after purchasing an additional 456 shares during the period. Finally, Glenview Trust Co boosted its holdings in Stock Yards Bancorp by 0.8% during the fourth quarter. Glenview Trust Co now owns 60,190 shares of the bank’s stock worth $3,909,000 after buying an additional 478 shares in the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a financial holding company headquartered in Louisville, Kentucky. Its principal subsidiary, Stock Yards Bank & Trust Company, provides a range of banking and financial services to individuals, businesses, institutions and government entities.

Stock Yards Bank offers commercial and consumer deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury management and other traditional banking products. Through its wealth management operations, the company also provides investment management, trust, estate planning and related fiduciary services.

Founded in 1904, Stock Yards Bancorp serves customers through banking markets in Kentucky, southern Indiana and the Cincinnati and Columbus areas of Ohio.