Laura Wells Sells 6,823 Shares of Stock Yards Bancorp (NASDAQ:SYBT) Stock

Key Points

• Director Laura Wells sold 6,823 Stock Yards Bancorp shares at an average price of $86.29, totaling approximately $588,757. Following the sale, her stake declined 41.6% to 9,580 shares.
• Stock Yards Bancorp reported quarterly EPS of $1.31, beating analysts’ $1.08 estimate, while revenue of $114.67 million also exceeded expectations. Shares recently traded at $84.71, down 0.5%.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and an average price target of $88.00. The company also pays a quarterly dividend of $0.32, equivalent to a 1.5% yield.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) Director Laura Wells sold 6,823 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the transaction, the director owned 9,580 shares in the company, valued at approximately $826,658.20. The trade was a 41.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Stock Yards Bancorp Stock Down 0.5%

Shares of NASDAQ SYBT traded down $0.39 during midday trading on Monday, hitting $84.71. 58,590 shares of the stock traded hands, compared to its average volume of 174,817. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Stock Yards Bancorp, Inc. has a one year low of $61.51 and a one year high of $89.21. The business has a 50 day moving average price of $76.44 and a two-hundred day moving average price of $71.14. The company has a market cap of $2.50 billion, a PE ratio of 16.87 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%.The company had revenue of $114.67 million for the quarter, compared to analysts' expectations of $111.66 million. On average, equities analysts predict that Stock Yards Bancorp, Inc. will post 5.15 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp's dividend payout ratio is presently 25.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank's stock valued at $493,000 after purchasing an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Stock Yards Bancorp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank's stock worth $1,051,000 after purchasing an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Stock Yards Bancorp by 28.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank's stock valued at $3,636,000 after buying an additional 11,758 shares during the period. Jane Street Group LLC bought a new position in shares of Stock Yards Bancorp during the first quarter valued at approximately $3,400,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Stock Yards Bancorp in the second quarter worth approximately $365,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SYBT shares. Piper Sandler reissued a "neutral" rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Stephens set a $87.00 price objective on shares of Stock Yards Bancorp and gave the company an "equal weight" rating in a research note on Thursday. Raymond James Financial started coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a "hold" rating for the company. Wall Street Zen upgraded shares of Stock Yards Bancorp from a "strong sell" rating to a "sell" rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods increased 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 report on Friday. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp has a consensus rating of "Hold" and an average price target of $88.00.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank's core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.