David P. Heintzman Sells 6,000 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 6,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $62.27, for a total transaction of $373,620.00. Following the transaction, the director now owns 107,070 shares of the company’s stock, valued at approximately $6,667,248.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT traded up $0.59 during trading on Tuesday, reaching $61.85. 13,786 shares of the company’s stock were exchanged, compared to its average volume of 85,735. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average price of $50.24 and a 200-day moving average price of $47.98. The stock has a market capitalization of $1.82 billion, a P/E ratio of 17.21 and a beta of 0.83. Stock Yards Bancorp, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $64.51.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.36% and a net margin of 21.99%. The business had revenue of $123.96 million for the quarter, compared to analyst estimates of $83.90 million. Sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 3.59 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, June 17th. Stock Yards Bancorp’s payout ratio is 33.71%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Independence Bank of Kentucky increased its stake in shares of Stock Yards Bancorp by 1.4% during the second quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after purchasing an additional 202 shares during the period. Diversified Trust Co lifted its holdings in shares of Stock Yards Bancorp by 2.3% during the second quarter. Diversified Trust Co now owns 10,141 shares of the bank’s stock worth $504,000 after buying an additional 231 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Stock Yards Bancorp by 1.3% in the fourth quarter. Thoroughbred Financial Services LLC now owns 23,104 shares of the bank’s stock valued at $1,189,000 after acquiring an additional 302 shares during the period. Raymond James & Associates grew its stake in shares of Stock Yards Bancorp by 3.7% in the fourth quarter. Raymond James & Associates now owns 8,775 shares of the bank’s stock valued at $452,000 after acquiring an additional 314 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Stock Yards Bancorp by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after acquiring an additional 384 shares during the period. 56.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SYBT shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Stephens increased their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Hovde Group boosted their price target on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.50.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.