Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Laura L. Wells Sells 4,000 Shares

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) Director Laura L. Wells sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total transaction of $312,000.00. Following the completion of the transaction, the director now owns 14,954 shares in the company, valued at approximately $1,166,412. This represents a 21.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock traded down $1.43 on Friday, hitting $75.10. 10,871 shares of the company's stock were exchanged, compared to its average volume of 119,144. Stock Yards Bancorp, Inc. has a 1 year low of $46.59 and a 1 year high of $79.85. The company has a 50-day simple moving average of $72.66 and a 200-day simple moving average of $72.59. 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 stock has a market capitalization of $2.21 billion, a PE ratio of 19.30 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping 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 business had revenue of $93.63 million during the quarter, compared to analysts' expectations of $92.90 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, June 16th. Stock Yards Bancorp's payout ratio is 29.95%.

Hedge Funds Weigh In On Stock Yards Bancorp

A number of hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its stake in Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Stock Yards Bancorp by 1,077.5% in the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock worth $34,000 after buying an additional 431 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock worth $35,000 after buying an additional 260 shares during the last quarter. Kentucky Trust Co purchased a new stake in shares of Stock Yards Bancorp during the 4th quarter valued at about $44,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after acquiring an additional 718 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target 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 lifted their price objective on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Stock Yards Bancorp has an average rating of "Hold" and a consensus price target of $77.25.

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.