Citadel Advisors LLC Raises Holdings in Stock Yards Bancorp, Inc. (SYBT)
Citadel Advisors LLC grew its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 170.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,026 shares of the bank’s stock after purchasing an additional 15,146 shares during the period. Citadel Advisors LLC owned about 0.11% of Stock Yards Bancorp worth $935,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Stock Yards Bancorp in the 1st quarter worth about $194,000. John W. Rosenthal Capital Management Inc. increased its position in Stock Yards Bancorp by 2.8% in the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 162,980 shares of the bank’s stock worth $6,340,000 after purchasing an additional 4,500 shares during the last quarter. Stock Yards Bank & Trust Co. increased its position in Stock Yards Bancorp by 1.4% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 895,398 shares of the bank’s stock worth $34,831,000 after purchasing an additional 12,325 shares during the last quarter. Swiss National Bank increased its position in Stock Yards Bancorp by 2.3% in the 1st quarter. Swiss National Bank now owns 35,323 shares of the bank’s stock worth $1,436,000 after purchasing an additional 800 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Stock Yards Bancorp by 0.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,502 shares of the bank’s stock worth $224,000 after purchasing an additional 15 shares during the last quarter. 48.13% of the stock is currently owned by institutional investors.
In related news, insider Philip Poindexter sold 850 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $35.26, for a total value of $29,971.00. Following the sale, the insider now owns 23,132 shares of the company’s stock, valued at $815,634.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David P. Heintzman sold 2,000 shares of Stock Yards Bancorp stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $36.30, for a total value of $72,600.00. Following the completion of the sale, the chief executive officer now directly owns 165,809 shares in the company, valued at approximately $6,018,866.70. The disclosure for this sale can be found here. In the last three months, insiders acquired 431 shares of company stock worth $15,495 and sold 6,132 shares worth $217,921. Company insiders own 6.20% of the company’s stock.
Stock Yards Bancorp, Inc. (SYBT) opened at 38.25 on Friday. Stock Yards Bancorp, Inc. has a 12 month low of $31.90 and a 12 month high of $48.05. The firm has a 50-day moving average price of $35.40 and a 200 day moving average price of $37.61. The firm has a market capitalization of $866.71 million, a price-to-earnings ratio of 20.79 and a beta of 0.70.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.02). Stock Yards Bancorp had a net margin of 28.11% and a return on equity of 13.36%. The firm had revenue of $36.91 million during the quarter, compared to analyst estimates of $37.06 million. On average, equities analysts forecast that Stock Yards Bancorp, Inc. will post $1.90 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, September 8th. Stock Yards Bancorp’s dividend payout ratio is 43.24%.
SYBT has been the topic of several research reports. BidaskClub lowered Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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