State of New Jersey Common Pension Fund D Buys New Holdings in Stock Yards Bancorp, Inc. $SYBT

State of New Jersey Common Pension Fund D purchased a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,606 shares of the bank’s stock, valued at approximately $1,932,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in Stock Yards Bancorp during the third quarter valued at approximately $1,638,000. Envestnet Asset Management Inc. increased its position in shares of Stock Yards Bancorp by 1,496.7% in the second quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock worth $9,216,000 after acquiring an additional 109,382 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Stock Yards Bancorp by 412.3% in the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock valued at $2,536,000 after acquiring an additional 25,845 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Stock Yards Bancorp by 144.6% during the 3rd quarter. SG Americas Securities LLC now owns 14,077 shares of the bank’s stock valued at $985,000 after acquiring an additional 8,321 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in Stock Yards Bancorp during the 2nd quarter worth $216,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYBT has been the topic of a number of recent research reports. Hovde Group boosted their price objective on Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Piper Sandler reiterated a “neutral” rating and set a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Finally, Wall Street Zen cut shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.00.

Stock Yards Bancorp Stock Up 1.3%

Shares of NASDAQ:SYBT opened at $66.78 on Thursday. The firm has a market cap of $1.97 billion, a PE ratio of 14.06 and a beta of 0.72. The company has a fifty day simple moving average of $67.89 and a 200 day simple moving average of $69.91. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. Stock Yards Bancorp, Inc. has a 12-month low of $60.75 and a 12-month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.91%. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.95%.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.