Glenview Trust Co Purchases Shares of 57,701 Stock Yards Bancorp, Inc. $SYBT

Glenview Trust Co purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 57,701 shares of the bank’s stock, valued at approximately $4,412,000.

A number of other institutional investors and hedge funds have also modified their holdings of SYBT. BlackRock Inc. bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth $165,219,000. The Manufacturers Life Insurance Company bought a new position in Stock Yards Bancorp in the 2nd quarter worth $15,848,000. Marshall Wace LLP raised its holdings in Stock Yards Bancorp by 691.5% in the 4th quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after acquiring an additional 155,512 shares during the period. Bank of America Corp DE acquired a new position in Stock Yards Bancorp during the 2nd quarter worth $11,330,000. Finally, Oxford Financial Group LTD. LLC acquired a new position in Stock Yards Bancorp during the 2nd quarter worth $11,063,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $79.73 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. Stock Yards Bancorp, Inc. has a one year low of $61.51 and a one year high of $89.21. The company has a fifty day moving average price of $80.47 and a 200 day moving average price of $73.09. The stock has a market cap of $2.48 billion, a P/E ratio of 15.88 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. The company had revenue of $114.71 million for the quarter, compared to analyst estimates of $111.66 million. Analysts anticipate that Stock Yards Bancorp, Inc. will post 5.16 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be paid a $0.33 dividend. The ex-dividend date is Monday, September 21st. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio is 25.50%.

Insiders Place Their Bets

In related news, Director Laura L. Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the sale, the director directly owned 9,580 shares of the company’s stock, valued at $826,658.20. This trade represents a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SYBT has been the subject of a number of recent analyst reports. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $82.00 to $90.00 in a report on Thursday, July 30th. Weiss Ratings raised Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Piper Sandler reissued a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $88.00.

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.