Insider Selling: Stock Yards Bancorp Inc (NASDAQ:SYBT) Chairman Sells 9,000 Shares of Stock

Stock Yards Bancorp Inc (NASDAQ:SYBT) Chairman David P. Heintzman sold 9,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $37.66, for a total transaction of $338,940.00. Following the completion of the sale, the chairman now owns 169,535 shares of the company’s stock, valued at $6,384,688.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ SYBT traded up $0.23 during midday trading on Thursday, reaching $38.22. The company’s stock had a trading volume of 1,902 shares, compared to its average volume of 38,286. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.98 and a current ratio of 0.98. Stock Yards Bancorp Inc has a fifty-two week low of $28.02 and a fifty-two week high of $38.99. The business’s 50 day moving average price is $36.56 and its two-hundred day moving average price is $35.26. The company has a market cap of $840.76 million, a P/E ratio of 15.79 and a beta of 0.49.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.11. Stock Yards Bancorp had a net margin of 32.58% and a return on equity of 16.33%. The company had revenue of $43.04 million during the quarter, compared to the consensus estimate of $42.35 million. Sell-side analysts forecast that Stock Yards Bancorp Inc will post 2.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.04 annualized dividend and a yield of 2.72%. Stock Yards Bancorp’s dividend payout ratio is currently 42.98%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Stock Yards Bancorp during the second quarter valued at approximately $36,000. Farmers National Bank acquired a new position in Stock Yards Bancorp during the first quarter valued at approximately $94,000. SG Americas Securities LLC acquired a new position in Stock Yards Bancorp during the first quarter valued at approximately $117,000. Russell Investments Group Ltd. acquired a new position in Stock Yards Bancorp during the second quarter valued at approximately $133,000. Finally, Bank of Montreal Can raised its position in Stock Yards Bancorp by 56.9% during the first quarter. Bank of Montreal Can now owns 4,243 shares of the bank’s stock valued at $143,000 after purchasing an additional 1,539 shares in the last quarter. Institutional investors and hedge funds own 50.56% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. BidaskClub downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th. Finally, Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Saturday, August 17th.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, money market deposits, and time deposits.

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Insider Buying and Selling by Quarter for Stock Yards Bancorp (NASDAQ:SYBT)

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