Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Get Free Report) Director Laura Wells sold 6,823 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the transaction, the director directly owned 9,580 shares in the company, valued at $826,658.20. The trade was a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Stock Yards Bancorp Stock Down 1.0%
Stock Yards Bancorp stock opened at $84.22 on Tuesday. Stock Yards Bancorp, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $89.21. The stock has a market cap of $2.49 billion, a PE ratio of 16.78 and a beta of 0.68. The firm's 50-day simple moving average is $76.70 and its 200 day simple moving average is $71.27. 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 (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.08 by $0.23. The firm had revenue of $114.67 million during the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. Research analysts predict that Stock Yards Bancorp, Inc. will post 5.15 EPS for the current fiscal year.
Stock Yards Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. Stock Yards Bancorp's dividend payout ratio is currently 25.50%.
Institutional Investors Weigh In On Stock Yards Bancorp
A number of hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in Stock Yards Bancorp during the third quarter valued at $28,000. Brown Brothers Harriman & Co. bought a new stake in shares of Stock Yards Bancorp in the third quarter valued at $45,000. Empowered Funds LLC bought a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at $60,000. Covestor Ltd lifted its position in shares of Stock Yards Bancorp by 138.4% during 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. Finally, Fifth Third Bancorp purchased a new position in shares of Stock Yards Bancorp during the 1st quarter valued at $85,000. Institutional investors own 56.46% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on SYBT shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Hovde Group downgraded Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $82.00 to $90.00 in a research note on Thursday, July 30th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a "market perform" rating in a research report on Friday. Piper Sandler reiterated a "neutral" rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Finally, Raymond James Financial began coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of "Hold" and an average target price of $88.00.
View Our Latest Analysis on SYBT
Stock Yards Bancorp Company Profile
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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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