Goldman Sachs Group Inc. Reduces Position in Stock Yards Bancorp, Inc. (SYBT)
Goldman Sachs Group Inc. lessened its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,117 shares of the bank’s stock after selling 2,387 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.10% of Stock Yards Bancorp worth $899,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in Stock Yards Bancorp by 784.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock valued at $120,000 after buying an additional 2,745 shares during the last quarter. US Bancorp DE raised its holdings in Stock Yards Bancorp by 1.2% in the 2nd quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock valued at $155,000 after buying an additional 47 shares during the last quarter. Victory Capital Management Inc. increased its position in Stock Yards Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock valued at $179,000 after purchasing an additional 687 shares during the period. Neuberger Berman Group LLC increased its position in Stock Yards Bancorp by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock valued at $223,000 after purchasing an additional 46 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new stake in Stock Yards Bancorp during the 1st quarter valued at approximately $228,000. Institutional investors and hedge funds own 48.02% of the company’s stock.
A number of analysts have weighed in on SYBT shares. Zacks Investment Research raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. BidaskClub downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 2,284 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.62, for a total transaction of $90,492.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathy C. Thompson sold 1,466 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $35.08, for a total transaction of $51,427.28. Following the sale, the insider now directly owns 40,161 shares of the company’s stock, valued at approximately $1,408,847.88. The disclosure for this sale can be found here. In the last three months, insiders have acquired 352 shares of company stock valued at $12,620 and have sold 7,864 shares valued at $294,482. Corporate insiders own 6.20% of the company’s stock.
Shares of Stock Yards Bancorp, Inc. (NASDAQ SYBT) opened at $38.30 on Tuesday. The firm has a market cap of $873.95, a P/E ratio of 20.29 and a beta of 0.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15. Stock Yards Bancorp, Inc. has a 52-week low of $31.90 and a 52-week high of $48.05.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 25th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $37.27 million during the quarter, compared to the consensus estimate of $37.81 million. Stock Yards Bancorp had a net margin of 28.57% and a return on equity of 13.66%. During the same quarter in the prior year, the firm posted $0.46 EPS. equities research analysts forecast that Stock Yards Bancorp, Inc. will post 1.91 earnings per share for the current fiscal year.
Stock Yards Bancorp Company Profile
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.
Want to see what other hedge funds are holding SYBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stock Yards Bancorp, Inc. (NASDAQ:SYBT).
Receive News & Ratings for Stock Yards Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.