Insider Selling: Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Sells $315,946.00 in Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) EVP Michael Croce sold 4,100 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total transaction of $315,946.00. Following the sale, the executive vice president now owns 24,600 shares of the company’s stock, valued at approximately $1,895,676. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Stock Yards Bancorp Trading Down 2.4%

NASDAQ SYBT opened at $74.72 on Friday. Stock Yards Bancorp, Inc. has a 12 month low of $46.59 and a 12 month high of $79.85. The company’s 50-day moving average price is $72.88 and its 200-day moving average price is $72.57. The stock has a market cap of $2.20 billion, a PE ratio of 19.21 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The company had revenue of $93.63 million during the quarter, compared to analyst estimates of $92.90 million. During the same period in the prior year, the firm earned $0.88 earnings per share. Equities research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, June 16th. Stock Yards Bancorp’s dividend payout ratio is currently 29.95%.

Institutional Trading of Stock Yards Bancorp

A number of institutional investors have recently modified their holdings of the company. Covestor Ltd raised its position in shares of Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank’s stock valued at $27,000 after purchasing an additional 232 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Stock Yards Bancorp by 1,077.5% in the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock valued at $34,000 after acquiring an additional 431 shares during the period. Principal Securities Inc. lifted its holdings in Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Kentucky Trust Co purchased a new position in Stock Yards Bancorp in the 4th quarter valued at $44,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock worth $58,000 after acquiring an additional 718 shares during the period. 56.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYBT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Stephens upped their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on shares of Stock Yards Bancorp and gave the company a “neutral” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Stock Yards Bancorp has an average rating of “Hold” and a consensus target price of $77.25.

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.