Envestnet Asset Management Inc. Has $9.22 Million Position in Stock Yards Bancorp, Inc. $SYBT

Envestnet Asset Management Inc. boosted its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 1,496.7% in the second quarter, Holdings Channel reports. The firm owned 116,690 shares of the bank’s stock after acquiring an additional 109,382 shares during the period. Envestnet Asset Management Inc.’s holdings in Stock Yards Bancorp were worth $9,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Stock Yards Bancorp by 26.4% in the first quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank’s stock worth $93,793,000 after buying an additional 283,532 shares during the last quarter. Nuveen LLC bought a new position in Stock Yards Bancorp in the 1st quarter worth $4,698,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Stock Yards Bancorp by 4.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock worth $88,289,000 after acquiring an additional 60,183 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Stock Yards Bancorp by 87.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 128,300 shares of the bank’s stock valued at $8,860,000 after acquiring an additional 60,000 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Stock Yards Bancorp in the first quarter valued at about $3,400,000. Institutional investors own 56.46% of the company’s stock.

Insider Buying and Selling

In related news, Director David L. Hardy purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of $66.53 per share, with a total value of $133,060.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at $133,060. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James A. Hillebrand sold 2,162 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total value of $180,137.84. Following the completion of the sale, the chief executive officer owned 107,292 shares in the company, valued at $8,939,569.44. This trade represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.40% of the stock is currently owned by insiders.

Stock Yards Bancorp Stock Up 1.2%

SYBT opened at $66.94 on Monday. The company has a market capitalization of $1.97 billion, a P/E ratio of 14.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s fifty day moving average price is $71.20 and its two-hundred day moving average price is $74.69. Stock Yards Bancorp, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.89%. The company had revenue of $120.27 million during the quarter, compared to the consensus estimate of $100.00 million. On average, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a dividend of $0.32 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, September 15th. Stock Yards Bancorp’s dividend payout ratio is 27.95%.

Analyst Upgrades and Downgrades

SYBT has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upped their price target on Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings lowered shares of Stock Yards Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and an average price target of $83.67.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.