Stock Yards Bancorp (NASDAQ:SYBT) President Philip Poindexter Sells 1,221 Shares

Key Points

• President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp on May 21 at an average price of $70.68, totaling about $86,300. After the sale, he still held 53,376 shares worth roughly $3.77 million.
• The stock traded slightly higher on the day, rising 0.2% to $71.14, with a market cap of $2.10 billion and a P/E ratio of 14.64.
• Recent fundamentals and income remain solid: the company beat quarterly EPS expectations with $1.24 per share, and it announced a quarterly dividend of $0.32 per share, equal to a 1.8% annualized yield.

Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) President Philip Poindexter sold 1,221 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares of the company's stock, valued at approximately $3,772,615.68. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Stock Yards Bancorp Trading Up 0.2%

Stock Yards Bancorp stock traded up $0.12 during trading hours on Thursday, hitting $71.14. The company had a trading volume of 104,368 shares, compared to its average volume of 156,528. The firm has a market cap of $2.10 billion, a P/E ratio of 14.64 and a beta of 0.70. 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 1 year low of $61.51 and a 1 year high of $83.83. The company has a 50-day moving average price of $68.48 and a two-hundred day moving average price of $67.64.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.07. The company had revenue of $102.63 million during the quarter, compared to analysts' expectations of $108.18 million. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 5.1 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. Stock Yards Bancorp's dividend payout ratio (DPR) is 26.34%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Stock Yards Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,945,817 shares of the bank's stock worth $136,188,000 after buying an additional 17,055 shares during the last quarter. Stock Yards Bank & Trust Co. grew its position in shares of Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank's stock worth $86,928,000 after buying an additional 366,475 shares during the last quarter. Aptus Capital Advisors LLC grew its position in shares of Stock Yards Bancorp by 0.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank's stock worth $12,191,000 after buying an additional 816 shares during the last quarter. Bank of America Corp DE grew its position in shares of Stock Yards Bancorp by 47.2% in the 3rd quarter. Bank of America Corp DE now owns 183,724 shares of the bank's stock worth $12,859,000 after buying an additional 58,942 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Stock Yards Bancorp by 691.5% in the 4th quarter. Marshall Wace LLP now owns 178,002 shares of the bank's stock worth $11,561,000 after buying an additional 155,512 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYBT. Wall Street Zen raised shares of Stock Yards Bancorp from a "strong sell" rating to a "sell" rating in a research report on Sunday. Piper Sandler reissued a "neutral" rating and set a $78.00 target price (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Hovde Group raised shares of Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Friday, March 6th. Weiss Ratings raised shares of Stock Yards Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Stock Yards Bancorp has a consensus rating of "Hold" and a consensus target price of $76.00.

Stock Yards Bancorp Company Profile

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.

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