Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) Director David P. Heintzman sold 1,581 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $74.00, for a total value of $116,994.00. Following the transaction, the director now directly owns 82,070 shares of the company's stock, valued at approximately $6,073,180. The trade was a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Stock Yards Bancorp Trading Up 1.5 %
Shares of SYBT stock traded up $1.08 during trading hours on Friday, hitting $74.41. 90,663 shares of the company's stock traded hands, compared to its average volume of 126,725. The stock has a market cap of $2.19 billion, a PE ratio of 19.13 and a beta of 0.77. The stock's 50 day simple moving average is $69.16 and its 200 day simple moving average is $71.60. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a 12 month low of $44.36 and a 12 month high of $79.79.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The firm had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the previous year, the company posted $0.88 EPS. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.
Stock Yards Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.67%. Stock Yards Bancorp's payout ratio is 29.95%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of SYBT. Victory Capital Management Inc. grew its holdings in Stock Yards Bancorp by 26.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank's stock worth $93,793,000 after acquiring an additional 283,532 shares during the period. Arizona State Retirement System increased its holdings in Stock Yards Bancorp by 4.0% in the first quarter. Arizona State Retirement System now owns 8,413 shares of the bank's stock worth $581,000 after purchasing an additional 326 shares in the last quarter. Alps Advisors Inc. acquired a new position in Stock Yards Bancorp in the first quarter valued at approximately $359,000. Bank of New York Mellon Corp boosted its holdings in shares of Stock Yards Bancorp by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 129,010 shares of the bank's stock worth $8,909,000 after buying an additional 2,030 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter worth approximately $296,000. Institutional investors and hedge funds own 56.46% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SYBT. Keefe, Bruyette & Woods dropped their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Stephens increased their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a "neutral" rating in a research report on Thursday, April 24th.
Check Out Our Latest Analysis on SYBT
Stock Yards Bancorp Company Profile
(
Get Free Report)
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.
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