Vanguard Group Inc. Reduces Stake in Stock Yards Bancorp, Inc. $SYBT

Vanguard Group Inc. reduced its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,925,102 shares of the bank’s stock after selling 20,715 shares during the period. Vanguard Group Inc. owned 0.07% of Stock Yards Bancorp worth $125,035,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Stock Yards Bancorp by 60.7% during the 3rd quarter. Citigroup Inc. now owns 61,128 shares of the bank’s stock worth $4,278,000 after purchasing an additional 23,093 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $1,638,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $1,932,000. Aptus Capital Advisors LLC grew its holdings in shares of Stock Yards Bancorp by 15.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 186,875 shares of the bank’s stock worth $13,079,000 after purchasing an additional 24,686 shares during the period. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of Stock Yards Bancorp by 146.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 113,560 shares of the bank’s stock worth $7,376,000 after purchasing an additional 67,440 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYBT has been the subject of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $78.00 price target (up from $76.00) on shares of Stock Yards Bancorp in a report on Monday, April 27th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Hovde Group raised Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, March 6th. Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Finally, Wall Street Zen downgraded Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.00.

Stock Yards Bancorp Stock Down 0.4%

Stock Yards Bancorp stock opened at $70.47 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. Stock Yards Bancorp, Inc. has a 1-year low of $61.51 and a 1-year high of $83.83. The company has a market cap of $2.08 billion, a PE ratio of 14.50 and a beta of 0.70. The stock’s 50 day moving average price is $67.84 and its 200 day moving average price is $67.50.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The firm had revenue of $102.63 million during the quarter, compared to analysts’ expectations of $108.18 million. On average, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th 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, March 16th. Stock Yards Bancorp’s dividend payout ratio is presently 26.34%.

Stock Yards Bancorp Company 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.