Victory Capital Management Inc. Sells 170,263 Shares of Stock Yards Bancorp, Inc. $SYBT

Victory Capital Management Inc. decreased its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 12.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,168,267 shares of the bank’s stock after selling 170,263 shares during the quarter. Victory Capital Management Inc.’s holdings in Stock Yards Bancorp were worth $81,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at $1,638,000. Envestnet Asset Management Inc. boosted its stake in shares of Stock Yards Bancorp by 1,496.7% during the second quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock valued at $9,216,000 after purchasing an additional 109,382 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Stock Yards Bancorp by 412.3% during the second quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock worth $2,536,000 after purchasing an additional 25,845 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Stock Yards Bancorp in the third quarter valued at approximately $1,932,000. Finally, SG Americas Securities LLC increased its stake in shares of Stock Yards Bancorp by 144.6% in the third quarter. SG Americas Securities LLC now owns 14,077 shares of the bank’s stock valued at $985,000 after buying an additional 8,321 shares during the period. Institutional investors own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SYBT shares. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler reaffirmed a “neutral” rating and set a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Hovde Group lifted their target price on Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Finally, Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Performance

SYBT stock opened at $64.50 on Friday. The firm has a market cap of $1.90 billion, a PE ratio of 13.58 and a beta of 0.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $67.61 and a 200-day moving average price of $69.52. Stock Yards Bancorp, Inc. has a 1-year low of $60.75 and a 1-year high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $104.47 million during the quarter, compared to analysts’ expectations of $102.42 million. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%. As a group, equities research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.28 annualized dividend and a yield of 2.0%. Stock Yards Bancorp’s dividend payout ratio is currently 26.95%.

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.