Russell Investments Group Ltd. Sells 9,558 Shares of Stock Yards Bancorp Inc (SYBT)
Russell Investments Group Ltd. cut its position in shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) by 46.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,153 shares of the bank’s stock after selling 9,558 shares during the quarter. Russell Investments Group Ltd.’s holdings in Stock Yards Bancorp were worth $424,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of SYBT. Mutual of America Capital Management LLC grew its holdings in Stock Yards Bancorp by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 283,751 shares of the bank’s stock valued at $10,783,000 after purchasing an additional 7,760 shares during the period. Susquehanna International Group LLP purchased a new stake in Stock Yards Bancorp in the second quarter valued at approximately $261,000. The Manufacturers Life Insurance Company grew its holdings in Stock Yards Bancorp by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 98,638 shares of the bank’s stock valued at $3,837,000 after purchasing an additional 841 shares during the period. State Street Corp grew its holdings in Stock Yards Bancorp by 4.8% in the second quarter. State Street Corp now owns 415,829 shares of the bank’s stock valued at $16,181,000 after purchasing an additional 19,091 shares during the period. Finally, Voya Investment Management LLC grew its holdings in Stock Yards Bancorp by 7.4% in the second quarter. Voya Investment Management LLC now owns 13,637 shares of the bank’s stock valued at $530,000 after purchasing an additional 945 shares during the period. Institutional investors and hedge funds own 47.71% of the company’s stock.
Shares of Stock Yards Bancorp Inc (SYBT) opened at $37.80 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.90 and a current ratio of 0.90. Stock Yards Bancorp Inc has a 52 week low of $31.90 and a 52 week high of $47.50. The stock has a market cap of $847.88, a P/E ratio of 19.89 and a beta of 0.69.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Stock Yards Bancorp had a net margin of 28.57% and a return on equity of 13.51%. The company had revenue of $37.27 million during the quarter, compared to the consensus estimate of $37.81 million. During the same period in the previous year, the firm earned $0.46 earnings per share. sell-side analysts predict that Stock Yards Bancorp Inc will post 1.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 11th were paid a dividend of $0.21 per share. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, December 8th. Stock Yards Bancorp’s payout ratio is currently 44.21%.
In other Stock Yards Bancorp news, CEO David P. Heintzman sold 1,264 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $39.55, for a total transaction of $49,991.20. Following the completion of the sale, the chief executive officer now directly owns 165,809 shares in the company, valued at $6,557,745.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathy C. Thompson sold 3,324 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $38.10, for a total transaction of $126,644.40. Following the sale, the insider now owns 40,440 shares of the company’s stock, valued at $1,540,764. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,148 shares of company stock valued at $120,593 and have sold 9,372 shares valued at $365,453. 6.20% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on SYBT shares. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Wednesday, December 6th. BidaskClub downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.
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Stock Yards Bancorp 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.
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