SG Americas Securities LLC Sells 6,931 Shares of Stock Yards Bancorp, Inc. $SYBT

SG Americas Securities LLC reduced its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 39.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,825 shares of the bank’s stock after selling 6,931 shares during the period. SG Americas Securities LLC’s holdings in Stock Yards Bancorp were worth $718,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co raised its holdings in Stock Yards Bancorp by 5.4% in the 1st quarter. Diversified Trust Co now owns 8,962 shares of the bank’s stock worth $594,000 after acquiring an additional 456 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Stock Yards Bancorp in the 4th quarter worth $250,000. Empowered Funds LLC bought a new stake in shares of Stock Yards Bancorp in the 4th quarter worth $60,000. Voloridge Investment Management LLC raised its stake in shares of Stock Yards Bancorp by 35.7% in the fourth quarter. Voloridge Investment Management LLC now owns 78,394 shares of the bank’s stock worth $5,092,000 after purchasing an additional 20,605 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of Stock Yards Bancorp by 53.9% in the fourth quarter. Tudor Investment Corp ET AL now owns 117,402 shares of the bank’s stock worth $7,625,000 after purchasing an additional 41,134 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $77.90 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp, Inc. has a 52 week low of $61.51 and a 52 week high of $83.83. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 16.07 and a beta of 0.68. The business has a 50-day simple moving average of $72.85 and a two-hundred day simple moving average of $69.29.

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

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Stock Yards Bancorp’s payout ratio is currently 26.34%.

Analysts Set New Price Targets

Several research firms recently commented on SYBT. Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Piper Sandler restated 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. Stephens raised their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.75.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president owned 53,376 shares of the company’s stock, valued at $3,772,615.68. The trade was a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.

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.