RPS Advisory Solutions LLC Trims Holdings in Stock Yards Bancorp, Inc. $SYBT

RPS Advisory Solutions LLC lowered its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 36.0% in the second quarter, Holdings Channel reports. The institutional investor owned 5,815 shares of the bank’s stock after selling 3,276 shares during the quarter. RPS Advisory Solutions LLC’s holdings in Stock Yards Bancorp were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Huntington National Bank boosted its stake in Stock Yards Bancorp by 1,405.6% during the 2nd quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock valued at $86,000 after acquiring an additional 1,012 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Stock Yards Bancorp in the 2nd quarter valued at about $207,000. Contravisory Investment Management Inc. bought a new position in shares of Stock Yards Bancorp during the second quarter worth about $256,000. Ardent Capital Management Inc. acquired a new position in Stock Yards Bancorp in the second quarter worth about $267,000. Finally, Atria Investments Inc bought a new stake in Stock Yards Bancorp in the second quarter valued at about $287,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

SYBT stock opened at $66.17 on Friday. Stock Yards Bancorp, Inc. has a 1 year low of $60.75 and a 1 year high of $83.83. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.45 and a beta of 0.66. 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 stock’s fifty day moving average is $71.48 and its two-hundred day moving average is $74.68.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.89%. The firm had revenue of $120.27 million during the quarter, compared to analysts’ expectations of $100.00 million. On average, research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 27.95%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Piper Sandler upped their price target on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $83.67.

Insiders Place Their Bets

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total transaction of $180,137.84. Following the sale, the chief executive officer directly owned 107,292 shares in the company, valued at approximately $8,939,569.44. The trade was a 1.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Hardy acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $66.53 per share, with a total value of $133,060.00. Following the completion of the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at approximately $133,060. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.40% of the stock is currently owned by company insiders.

Stock Yards Bancorp 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.