Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells 4,000 Shares of Stock

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

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock traded down $1.80 during mid-day trading on Friday, reaching $74.72. 112,254 shares of the company traded hands, compared to its average volume of 131,850. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. Stock Yards Bancorp, Inc. has a fifty-two week low of $46.59 and a fifty-two week high of $79.85. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.21 and a beta of 0.72. The firm's fifty day moving average is $72.88 and its two-hundred day moving average is $72.51.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The business had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the prior year, the business posted $0.88 EPS. On average, equities research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $0.31 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.66%. Stock Yards Bancorp's payout ratio is currently 29.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stephens increased their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen cut shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $77.25.

Institutional Trading of Stock Yards Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in SYBT. Victory Capital Management Inc. increased its stake in shares of Stock Yards Bancorp by 120.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock worth $76,953,000 after acquiring an additional 586,550 shares during the period. Norges Bank acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter worth $5,761,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter worth $4,891,000. Nuveen LLC acquired a new stake in shares of Stock Yards Bancorp in the first quarter worth $4,698,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Stock Yards Bancorp by 4.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank's stock worth $88,289,000 after acquiring an additional 60,183 shares during the period. Institutional investors and hedge funds own 56.46% of the company's stock.

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.