NFJ Investment Group LLC Buys New Stake in Stock Yards Bancorp, Inc. $SYBT

NFJ Investment Group LLC purchased a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,479 shares of the bank’s stock, valued at approximately $2,713,000. NFJ Investment Group LLC owned approximately 0.11% of Stock Yards Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Stock Yards Bancorp in the second quarter valued at $165,219,000. Aptus Capital Advisors LLC boosted its stake in shares of Stock Yards Bancorp by 0.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock worth $12,191,000 after acquiring an additional 816 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Stock Yards Bancorp by 47.2% during the 3rd quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after acquiring an additional 58,942 shares in the last quarter. Marshall Wace LLP grew its position in shares of Stock Yards Bancorp by 691.5% during the 4th quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after acquiring an additional 155,512 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of Stock Yards Bancorp by 8.9% during the 4th quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock valued at $10,274,000 after acquiring an additional 12,976 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Up 0.1%

Shares of NASDAQ SYBT opened at $82.05 on Friday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 16.34 and a beta of 0.68. The company’s 50-day simple moving average is $79.76 and its 200-day simple moving average is $72.69. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp, Inc. has a 52-week low of $61.51 and a 52-week high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.23. The firm had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. Equities analysts predict that Stock Yards Bancorp, Inc. will post 5.14 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be paid a dividend of $0.33 per share. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, September 21st. This represents a $1.32 annualized dividend and a yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 25.50%.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the transaction, the director owned 9,580 shares of the company’s stock, valued at $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYBT has been the subject of several recent analyst reports. Stephens set a $87.00 price target on Stock Yards Bancorp and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Raymond James Financial started coverage on Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.00.

About Stock Yards Bancorp

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.