Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director Sells $730,800.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Director David P. Heintzman sold 10,000 shares of Stock Yards Bancorp stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $73.08, for a total value of $730,800.00. Following the transaction, the director now owns 87,070 shares of the company’s stock, valued at $6,363,075.60. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock opened at $73.28 on Thursday. 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 company’s fifty day moving average price is $65.43 and its 200 day moving average price is $57.11. The stock has a market capitalization of $2.16 billion, a P/E ratio of 20.13 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $77.82.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The business had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. As a group, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Piper Sandler boosted their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Stock Yards Bancorp has a consensus rating of “Hold” and a consensus price target of $69.25.

Institutional Investors Weigh In On Stock Yards Bancorp

Several large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp during the second quarter worth approximately $45,000. Quantbot Technologies LP boosted its stake in Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares during the last quarter. FMR LLC grew its holdings in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after buying an additional 167 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at about $206,000. Finally, Ballentine Partners LLC purchased a new position in shares of Stock Yards Bancorp in the third quarter worth about $219,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

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.