Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Rehm Sells 2,650 Shares

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stock Yards Bancorp Trading Up 2.8 %

Shares of SYBT traded up $2.08 during midday trading on Friday, hitting $75.87. 26,436 shares of the stock were exchanged, compared to its average volume of 106,085. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $2.23 billion, a P/E ratio of 20.84 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $77.82. The stock has a fifty day simple moving average of $65.74 and a 200 day simple moving average of $57.23.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. The company had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. On average, research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s payout ratio is currently 34.07%.

Analyst Ratings Changes

SYBT has been the topic of several recent analyst reports. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $70.00 to $76.00 in a report on Friday, November 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $67.00 to $68.00 in a research note on Thursday, October 24th. Finally, Piper Sandler raised their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.25.

Hedge Funds Weigh In On Stock Yards Bancorp

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp in the second quarter valued at about $45,000. Quantbot Technologies LP boosted its position in shares of Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares in the last quarter. FMR LLC grew its stake in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after purchasing an additional 167 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at about $206,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at about $219,000. 56.46% of the stock is owned by institutional investors and hedge funds.

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.