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

Key Points

• Insider sale: Vice President Michael Woods sold 139 Stock Yards Bancorp shares for approximately $10,984, reducing his holdings by 13.37% to 901 shares.
• Financial performance and dividend: The bank reported quarterly earnings of $1.31 per share, exceeding estimates of $1.08, while raising its quarterly dividend from $0.32 to $0.33 per share.
• Market outlook: Shares recently traded at $78.50, while analysts maintain a consensus “Hold” rating and an average price target of $88. Institutional investors own 56.46% of the company.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) VP Michael Woods sold 139 shares of the business's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $79.02, for a total value of $10,983.78. Following the sale, the vice president owned 901 shares in the company, valued at $71,197.02. This represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Stock Yards Bancorp Trading Down 0.4%

Stock Yards Bancorp stock traded down $0.31 during trading hours on Tuesday, hitting $78.50. The stock had a trading volume of 36,317 shares, compared to its average volume of 170,130. The business's 50 day simple moving average is $81.60 and its 200-day simple moving average is $74.49. Stock Yards Bancorp, Inc. has a one year low of $61.51 and a one year high of $89.21. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 15.64 and a beta of 0.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results 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. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%.The company had revenue of $114.71 million for the quarter, compared to analysts' expectations of $111.66 million. On average, equities analysts predict that Stock Yards Bancorp, Inc. will post 5.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be given a $0.33 dividend. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.32. The ex-dividend date is Monday, September 21st. This represents a $1.32 annualized dividend and a yield of 1.7%. Stock Yards Bancorp's dividend payout ratio is currently 25.50%.

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently made changes to their positions in SYBT. Sequoia Financial Advisors LLC increased its position in shares of Stock Yards Bancorp by 18.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 27,581 shares of the bank's stock valued at $2,109,000 after purchasing an additional 4,273 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of Stock Yards Bancorp by 30.2% during the 2nd quarter. Engineers Gate Manager LP now owns 4,609 shares of the bank's stock valued at $352,000 after purchasing an additional 1,070 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Stock Yards Bancorp during the second quarter valued at approximately $123,000. Susquehanna Fundamental Investments LLC lifted its holdings in Stock Yards Bancorp by 61.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 26,741 shares of the bank's stock worth $2,045,000 after buying an additional 10,226 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Stock Yards Bancorp by 4.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,993 shares of the bank's stock worth $3,899,000 after buying an additional 2,335 shares in the last quarter. Institutional investors own 56.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Stephens set a $87.00 price target 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 target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Hovde Group cut shares of Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their price target for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. Finally, Weiss Ratings raised Stock Yards Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Stock Yards Bancorp has an average rating of "Hold" and a consensus target price of $88.00.

Stock Yards Bancorp Company Profile

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.

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