According to Zacks, “Stock Yards Bancorp Inc. is a bank holding company. Its main subsidiary is Stock Yards Bank & Trust Company. The company provides banking, trust, investment management, private banking, and brokerage services. It operates in and around Louisville, Indianapolis, and Cincinnati. Stock Yards Bancorp Inc. is headquartered in Louisville, Kentucky. “
Several other brokerages have also issued reports on SYBT. FIG Partners lowered shares of Stock Yards Bancorp from an outperform rating to a market perform rating and set a $36.00 price target for the company. in a research note on Tuesday, January 8th. BidaskClub raised shares of Stock Yards Bancorp from a sell rating to a hold rating in a report on Saturday, January 5th. Finally, ValuEngine raised shares of Stock Yards Bancorp from a sell rating to a hold rating in a report on Wednesday, December 26th.
Shares of SYBT stock opened at $34.97 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. Stock Yards Bancorp has a 12-month low of $28.02 and a 12-month high of $41.00. The company has a market cap of $790.86 million, a PE ratio of 14.45 and a beta of 0.42.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Stock Yards Bancorp had a net margin of 31.70% and a return on equity of 15.83%. The company had revenue of $41.49 million during the quarter, compared to analyst estimates of $40.40 million. Equities analysts forecast that Stock Yards Bancorp will post 2.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 41.32%.
In related news, Chairman David P. Heintzman sold 2,865 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $34.91, for a total value of $100,017.15. Following the completion of the transaction, the chairman now directly owns 142,437 shares of the company’s stock, valued at approximately $4,972,475.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathy C. Thompson sold 3,015 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $36.15, for a total transaction of $108,992.25. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 971 shares of company stock valued at $33,541. 8.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Stock Yards Bancorp by 1.8% in the 4th quarter. BlackRock Inc. now owns 1,634,286 shares of the bank’s stock worth $53,604,000 after buying an additional 29,046 shares during the period. Stock Yards Bank & Trust Co. boosted its holdings in Stock Yards Bancorp by 0.3% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,008,731 shares of the bank’s stock valued at $33,086,000 after purchasing an additional 2,571 shares during the period. Vanguard Group Inc boosted its holdings in Stock Yards Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 969,982 shares of the bank’s stock valued at $35,211,000 after purchasing an additional 5,798 shares during the period. Vanguard Group Inc. boosted its holdings in Stock Yards Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 969,982 shares of the bank’s stock valued at $35,211,000 after purchasing an additional 5,798 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Stock Yards Bancorp by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 920,952 shares of the bank’s stock valued at $30,207,000 after purchasing an additional 11,699 shares during the period. 50.76% of the stock is owned by institutional investors.
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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