Stock Yards Bancorp, Inc. (NASDAQ:SYBT) executive David P. Heintzman has sold a portion of his holdings in the company, according to a recent filing. Heintzman, who serves as a director for the Louisville-based financial institution, offloaded 3,000 shares of common stock at a price of $47.05 per share. The transaction totaled over $141,000 and was executed on May 6, 2024.
Following the sale, Heintzman still retains a significant stake in Stock Yards Bancorp, with 113,070 shares held indirectly through a Family Gift Trust. Additionally, separate holdings of 32,073 shares are owned directly by Heintzman, indicating his continued investment in the company's future.
Stock Yards Bancorp, which operates within the state commercial banks sector under the SIC code 6022, has not seen any recent purchases by Heintzman that were disclosed in the filing. Investors often monitor insider transactions as they may provide insights into the executive's view of the company's valuation and prospects.
Investors and stakeholders in Stock Yards Bancorp can access the details of Heintzman's transactions and current holdings through the company's latest SEC filings. The transactions occur regularly within the market's regulatory framework and provide transparency into the trading activities of the company's insiders.
Stock Yards Bancorp remains a key player in the financial services industry, and insider transactions such as these are a routine part of the market's operations. The company's shares are publicly traded, and its performance can be followed on the NASDAQ exchange under the ticker symbol SYBT.
InvestingPro Insights
As Stock Yards Bancorp, Inc. (NASDAQ:SYBT) continues to navigate the financial services sector, recent data from InvestingPro offers a deeper look into the company's performance and market position. With a market cap of approximately 1.4 billion USD, the company stands as a notable entity in the state commercial banks space. The P/E ratio stands at 13.3, which aligns with the adjusted P/E ratio for the last twelve months as of Q1 2024, suggesting a consistent valuation by the market.
One of the InvestingPro Tips highlights that Stock Yards Bancorp has raised its dividend for 14 consecutive years, which is a testament to its commitment to shareholder returns. Additionally, the company has maintained dividend payments for an impressive 36 consecutive years, indicating a strong track record of financial stability and reliability for income-focused investors.
The company's dividend yield currently stands at 2.55%, which, coupled with a dividend growth of 3.45% over the last twelve months as of Q1 2024, could be attractive for those looking for steady income streams in their investment portfolios. This information is particularly relevant in light of the recent insider transaction, as it may influence investor perception of the company's commitment to delivering shareholder value.
For investors seeking further insights, there are additional InvestingPro Tips available, including analysts' upward revisions of earnings estimates for the upcoming period and predictions of profitability for this year. For a more comprehensive analysis, visit https://www.investing.com/pro/SYBT and remember, using the coupon code PRONEWS24 provides an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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