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

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the transaction, the president owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $71.22 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp, Inc. has a twelve month low of $61.51 and a twelve month high of $83.83. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 14.65 and a beta of 0.70. The company’s fifty day moving average is $68.76 and its 200 day moving average is $67.71.

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

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. Stock Yards Bancorp’s payout ratio is currently 26.34%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SYBT shares. Piper Sandler reaffirmed a “neutral” rating and set a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. 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. Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods upped their price target 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 analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.00.

Institutional Investors Weigh In On Stock Yards Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in Stock Yards Bancorp in the 3rd quarter valued at about $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp in the 3rd quarter valued at about $45,000. GAMMA Investing LLC increased its stake in Stock Yards Bancorp by 92.1% in the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after buying an additional 396 shares during the last quarter. Empowered Funds LLC purchased a new stake in Stock Yards Bancorp in the 4th quarter valued at about $60,000. Finally, Covestor Ltd increased its stake in Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after buying an additional 678 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

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.