Stock Yards Bancorp Inc (NASDAQ:SYBT) Short Interest Update

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Stock Yards Bancorp Inc (NASDAQ:SYBT) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 557,000 shares, an increase of 9.7% from the July 31st total of 507,800 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily volume of 43,800 shares, the days-to-cover ratio is presently 12.7 days.

Shares of NASDAQ:SYBT traded down $0.07 during midday trading on Friday, reaching $38.19. 50,720 shares of the company were exchanged, compared to its average volume of 36,728. Stock Yards Bancorp has a fifty-two week low of $28.02 and a fifty-two week high of $38.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $36.62 and a two-hundred day simple moving average of $35.27. The firm has a market cap of $869.63 million, a PE ratio of 15.78 and a beta of 0.49.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.72 EPS for the quarter, topping 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 business had revenue of $43.04 million for the quarter, compared to analyst estimates of $42.35 million. As a group, analysts forecast that Stock Yards Bancorp will post 2.72 earnings per share for the current year.

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

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

In other news, insider Kathy C. Thompson sold 2,609 shares of Stock Yards Bancorp stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $34.51, for a total transaction of $90,036.59. Following the transaction, the insider now directly owns 38,448 shares of the company’s stock, valued at $1,326,840.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman David P. Heintzman sold 9,000 shares of Stock Yards Bancorp stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $37.66, for a total transaction of $338,940.00. Following the transaction, the chairman now directly owns 169,535 shares in the company, valued at $6,384,688.10. The disclosure for this sale can be found here. Over the last three months, insiders have bought 359 shares of company stock worth $12,600 and have sold 29,829 shares worth $1,085,157. Company insiders own 8.30% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in Stock Yards Bancorp in the 2nd quarter valued at $36,000. Farmers National Bank acquired a new stake in Stock Yards Bancorp in the 1st quarter valued at $94,000. SG Americas Securities LLC acquired a new stake in Stock Yards Bancorp in the 1st quarter valued at $117,000. Russell Investments Group Ltd. acquired a new stake in Stock Yards Bancorp in the 2nd quarter valued at $133,000. Finally, Bank of Montreal Can increased its stake in Stock Yards Bancorp by 56.9% in the 1st quarter. Bank of Montreal Can now owns 4,243 shares of the bank’s stock valued at $143,000 after buying an additional 1,539 shares during the last quarter. Institutional investors and hedge funds own 50.56% of the company’s stock.

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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