Stock Yards Bancorp, Inc. (NASDAQ:SYBT) CEO Sells $561,195.47 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) CEO James A. Hillebrand sold 9,053 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $61.99, for a total value of $561,195.47. Following the completion of the transaction, the chief executive officer now owns 105,450 shares in the company, valued at $6,536,845.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Stock Yards Bancorp Stock Down 2.2 %

NASDAQ:SYBT traded down $1.40 during trading hours on Monday, hitting $61.87. 94,897 shares of the company traded hands, compared to its average volume of 85,911. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $49.98 and its 200-day simple moving average is $47.89. Stock Yards Bancorp, Inc. has a one year low of $36.93 and a one year high of $64.51. The company has a market cap of $1.82 billion, a PE ratio of 17.77 and a beta of 0.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. The company had revenue of $123.96 million for the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a return on equity of 12.36% and a net margin of 21.99%. Equities analysts predict that Stock Yards Bancorp, Inc. will post 3.59 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Monday, June 17th. Stock Yards Bancorp’s payout ratio is 33.71%.

Institutional Investors Weigh In On Stock Yards Bancorp

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its stake in shares of Stock Yards Bancorp by 121.7% during the 4th quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock worth $79,000 after purchasing an additional 840 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Stock Yards Bancorp by 70.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after purchasing an additional 799 shares during the period. SG Americas Securities LLC purchased a new stake in Stock Yards Bancorp in the 4th quarter worth about $165,000. Quantbot Technologies LP purchased a new stake in Stock Yards Bancorp in the 1st quarter worth about $195,000. Finally, German American Bancorp Inc. purchased a new stake in Stock Yards Bancorp in the 4th quarter worth about $230,000. 56.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYBT. Stephens increased their target price on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday. Hovde Group raised their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.50.

Stock Yards Bancorp Company Profile

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.