Stock Yards Bancorp Inc (NASDAQ:SYBT) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 495,300 shares, a growth of 14.2% from the May 30th total of 433,900 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 40,800 shares, the days-to-cover ratio is presently 12.1 days.
SYBT has been the subject of several recent analyst reports. ValuEngine raised shares of Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th.
In other Stock Yards Bancorp news, insider William Dishman sold 2,000 shares of Stock Yards Bancorp stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.35, for a total transaction of $68,700.00. Following the completion of the transaction, the insider now directly owns 17,501 shares of the company’s stock, valued at $601,159.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathy C. Thompson sold 1,500 shares of Stock Yards Bancorp stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $34.04, for a total transaction of $51,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 342 shares of company stock valued at $11,813 and have sold 21,917 shares valued at $765,578. 8.30% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of SYBT. BlackRock Inc. grew its position in shares of Stock Yards Bancorp by 1.8% during the 4th quarter. BlackRock Inc. now owns 1,634,286 shares of the bank’s stock worth $53,604,000 after purchasing an additional 29,046 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Stock Yards Bancorp by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 196,439 shares of the bank’s stock worth $6,444,000 after purchasing an additional 3,273 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Stock Yards Bancorp by 17.6% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,685 shares of the bank’s stock worth $482,000 after purchasing an additional 2,195 shares during the last quarter. Raymond James & Associates boosted its holdings in Stock Yards Bancorp by 39.2% during the fourth quarter. Raymond James & Associates now owns 11,643 shares of the bank’s stock worth $382,000 after purchasing an additional 3,278 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Stock Yards Bancorp by 18.1% during the fourth quarter. Citigroup Inc. now owns 6,837 shares of the bank’s stock worth $224,000 after purchasing an additional 1,049 shares during the last quarter. 50.13% of the stock is owned by hedge funds and other institutional investors.
NASDAQ SYBT traded down $0.17 on Monday, hitting $35.50. 57 shares of the stock were exchanged, compared to its average volume of 48,683. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $34.85. The stock has a market capitalization of $814.08 million, a price-to-earnings ratio of 14.74 and a beta of 0.48. Stock Yards Bancorp has a 52-week low of $28.02 and a 52-week high of $39.35.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, April 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.09. The firm had revenue of $40.72 million during the quarter, compared to analyst estimates of $41.10 million. Stock Yards Bancorp had a net margin of 31.99% and a return on equity of 16.01%. On average, research analysts forecast that Stock Yards Bancorp will post 2.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a dividend of $0.26 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Friday, June 14th. Stock Yards Bancorp’s payout ratio is currently 42.98%.
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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