Key Points
- Insider sale: Stock Yards Bancorp President Philip Poindexter sold 1,221 shares on May 21 at an average price of $70.68, totaling about $86,300. After the sale, he still owned 53,376 shares.
- Dividend announced: The company declared a quarterly dividend of $0.32 per share, payable July 1 to shareholders of record on June 15. That works out to an annualized yield of about 1.8%.
- Business and analyst backdrop: SYBT recently beat quarterly EPS estimates at $1.24 versus $1.17 expected, while analysts currently have an average Hold rating and a $76.00 price target. The stock closed at $71.28, near its 50-day and 200-day moving averages.
Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) President Philip Poindexter sold 1,221 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares of the company's stock, valued at $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Stock Yards Bancorp Price Performance
Shares of SYBT opened at $71.28 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day simple moving average of $68.61 and a 200 day simple moving average of $67.69. Stock Yards Bancorp, Inc. has a 52-week low of $61.51 and a 52-week high of $83.83. The firm has a market capitalization of $2.10 billion, a PE ratio of 14.67 and a beta of 0.70.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued 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. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The business had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. Sell-side analysts predict that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current fiscal year.
Stock Yards Bancorp Announces Dividend
The company also recently declared 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 is 26.34%.
Institutional Investors Weigh In On Stock Yards Bancorp
Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC raised its stake in shares of Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank's stock worth $54,000 after purchasing an additional 396 shares in the last quarter. Empowered Funds LLC bought a new stake in Stock Yards Bancorp in the 4th quarter valued at $60,000. Finally, Covestor Ltd raised 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 acquiring an additional 678 shares during the period. Institutional investors own 56.46% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SYBT. Weiss Ratings raised Stock Yards Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods upped their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Hovde Group upgraded Stock Yards Bancorp from a "market perform" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research note on Friday, March 6th. Wall Street Zen upgraded Stock Yards Bancorp from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 17th. Finally, Stephens upped their price objective on Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an "equal weight" rating in a research note 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $76.00.
View Our Latest Report on SYBT
About Stock Yards Bancorp
(
Get Free Report)
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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