Stock Yards Bancorp, Inc. $SYBT is Stock Yards Bank & Trust Co.’s 9th Largest Position

Stock Yards Bank & Trust Co. cut its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 995,766 shares of the bank’s stock after selling 40,147 shares during the quarter. Stock Yards Bancorp makes up about 2.6% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 9th largest holding. Stock Yards Bank & Trust Co.’s holdings in Stock Yards Bancorp were worth $78,646,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SYBT. KBC Group NV purchased a new stake in Stock Yards Bancorp during the 1st quarter valued at $114,000. Truist Financial Corp purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at $207,000. Johnson Investment Counsel Inc. purchased a new stake in Stock Yards Bancorp during the 1st quarter valued at $223,000. Contravisory Investment Management Inc. purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at $256,000. Finally, Quantbot Technologies LP raised its stake in Stock Yards Bancorp by 132.8% during the 1st quarter. Quantbot Technologies LP now owns 4,070 shares of the bank’s stock valued at $281,000 after buying an additional 2,322 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYBT has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Keefe, Bruyette & Woods boosted their price objective on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Stock Yards Bancorp in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $79.75.

Insider Buying and Selling

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total value of $180,137.84. Following the sale, the chief executive officer owned 107,292 shares in the company, valued at $8,939,569.44. The trade was a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is currently owned by insiders.

Stock Yards Bancorp Trading Up 1.1%

Shares of Stock Yards Bancorp stock opened at $69.61 on Friday. The company has a market capitalization of $2.05 billion, a P/E ratio of 16.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The company has a fifty day moving average of $75.83 and a 200 day moving average of $74.57. Stock Yards Bancorp, Inc. has a fifty-two week low of $58.50 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.10. The company had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, September 15th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.31. Stock Yards Bancorp’s dividend payout ratio is presently 29.43%.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.