David P. Heintzman Sells 8,000 Shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) Stock

Stock Yards Bancorp Inc (NASDAQ:SYBT) Chairman David P. Heintzman sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $40.01, for a total value of $320,080.00. Following the transaction, the chairman now directly owns 188,081 shares of the company’s stock, valued at approximately $7,525,120.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Stock Yards Bancorp stock traded up $0.51 during mid-day trading on Wednesday, hitting $40.94. The company’s stock had a trading volume of 808 shares, compared to its average volume of 82,741. The firm’s 50 day moving average is $37.83 and its 200 day moving average is $34.74. The company has a market cap of $917.73 million, a PE ratio of 15.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.98 and a quick ratio of 0.97. Stock Yards Bancorp Inc has a 52-week low of $22.98 and a 52-week high of $42.60.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.12. The firm had revenue of $46.15 million during the quarter, compared to the consensus estimate of $46.60 million. Stock Yards Bancorp had a return on equity of 14.97% and a net margin of 30.12%. As a group, analysts forecast that Stock Yards Bancorp Inc will post 2.6 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Friday, June 12th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 37.37%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Stock Yards Bancorp by 0.8% during the 1st quarter. BlackRock Inc. now owns 1,583,741 shares of the bank’s stock worth $45,817,000 after purchasing an additional 12,595 shares in the last quarter. Stock Yards Bank & Trust Co. raised its stake in shares of Stock Yards Bancorp by 3.3% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,106,499 shares of the bank’s stock worth $44,482,000 after purchasing an additional 34,841 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of Stock Yards Bancorp by 0.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,010,352 shares of the bank’s stock worth $29,229,000 after purchasing an additional 4,545 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Stock Yards Bancorp by 5.4% during the 1st quarter. Geode Capital Management LLC now owns 327,780 shares of the bank’s stock worth $9,481,000 after purchasing an additional 16,823 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Stock Yards Bancorp by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 184,321 shares of the bank’s stock worth $5,333,000 after purchasing an additional 2,968 shares in the last quarter. 52.25% of the stock is owned by institutional investors.

SYBT has been the subject of several research reports. Stephens raised Stock Yards Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 9th. Raymond James upped their target price on Stock Yards Bancorp from $42.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. ValuEngine downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 15th. BidaskClub raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.

About Stock Yards Bancorp

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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