William Dishman, Executive Vice President of Stock Yards Bancorp, Inc. (NASDAQ:SYBT), recently sold 3,000 shares of the company's common stock. The shares were sold at an average price of $72.6818, totaling approximately $218,045. Following this transaction, Dishman holds 31,444 shares directly.
In other recent news, SY Bancorp has seen significant developments in its financial outlook. Piper Sandler, a financial services firm, raised its stock price target for SY Bancorp to $69.00, up from the previous $65.50, maintaining a neutral rating on the stock. This adjustment is based on SY Bancorp's robust third-quarter performance and the anticipation of superior operating leverage in the upcoming year. Stephens, another financial services firm, increased its stock price target for SY Bancorp to $70, maintaining an overweight rating on the stock, citing the company's consistent financial performance and potential for sustained growth. Both firms noted SY Bancorp's disciplined cost management and mid-single-digit organic balance sheet growth as positive drivers.
The financial services companies also highlighted SY Bancorp's strong credit quality and the significant contribution of its wealth management division to its revenue. Piper Sandler adjusted its fourth-quarter 2024 and full-year 2025 earnings per share (EPS) estimates for SY Bancorp, raising them to $1.01 and $4.05, respectively, reflecting expectations of higher net interest income (NII), net interest margin (NIM), and balance sheet growth. The firm also introduced a 2026 EPS estimate of $4.25 for SY Bancorp.
Lastly, SY Bancorp demonstrated its commitment to shareholder value by increasing its quarterly cash dividend to $0.31 per share, enabled by consistent profitability and a solid capital position. These recent developments provide insight into the ongoing activities at SY Bancorp, focusing on profitability, revenue diversity, and shareholder value.
InvestingPro Insights
As William Dishman reduces his stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT), investors might find it valuable to consider additional financial insights. According to InvestingPro data, SYBT boasts a market capitalization of $2.14 billion and a P/E ratio of 20.04, suggesting a moderate valuation relative to its earnings.
The company's financial performance has been noteworthy, with a robust operating income margin of 43.5% for the last twelve months as of Q3 2024. This strong profitability metric aligns with an InvestingPro Tip indicating that SYBT has been profitable over the last twelve months, reinforcing the company's financial stability.
Investors may also be encouraged by SYBT's dividend track record. An InvestingPro Tip highlights that the company has raised its dividend for 14 consecutive years and has maintained dividend payments for 36 consecutive years. This commitment to shareholder returns is further supported by a current dividend yield of 1.66%.
The stock's recent performance has been particularly strong, with InvestingPro data showing a 77.44% total return over the past year and a significant 62.35% return in the last six months. These figures correspond with another InvestingPro Tip noting the stock's strong return over various time frames, including the last month, three months, and five years.
For those interested in a more comprehensive analysis, InvestingPro offers 12 additional tips on SYBT, providing a deeper understanding of the company's financial health and market position.
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