Stock Yards Bancorp Inc (SYBT) Stake Lowered by Stock Yards Bank & Trust Co.
Stock Yards Bank & Trust Co. decreased its position in shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 879,872 shares of the bank’s stock after selling 11,226 shares during the period. Stock Yards Bancorp comprises 3.6% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its largest position. Stock Yards Bank & Trust Co.’s holdings in Stock Yards Bancorp were worth $33,171,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Stock Yards Bancorp by 1.9% in the second quarter. Vanguard Group Inc. now owns 915,298 shares of the bank’s stock worth $35,604,000 after purchasing an additional 16,902 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Stock Yards Bancorp by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 800,868 shares of the bank’s stock worth $30,432,000 after purchasing an additional 11,455 shares during the last quarter. State Street Corp boosted 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 worth $16,181,000 after purchasing an additional 19,091 shares during the last quarter. Walthausen & Co. LLC boosted its holdings in Stock Yards Bancorp by 15.6% in the third quarter. Walthausen & Co. LLC now owns 319,448 shares of the bank’s stock worth $12,139,000 after purchasing an additional 43,160 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Stock Yards Bancorp by 4.7% in the second quarter. Northern Trust Corp now owns 314,214 shares of the bank’s stock worth $12,223,000 after purchasing an additional 14,194 shares during the last quarter. Hedge funds and other institutional investors own 47.71% of the company’s stock.
Stock Yards Bancorp Inc (NASDAQ:SYBT) traded up $0.30 on Thursday, reaching $37.75. 126,900 shares of the company’s stock traded hands, compared to its average volume of 46,643. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. Stock Yards Bancorp Inc has a fifty-two week low of $31.90 and a fifty-two week high of $47.50. The company has a market capitalization of $855.82, a P/E ratio of 19.87 and a beta of 0.68.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $37.27 million for the quarter, compared to the consensus estimate of $37.81 million. During the same period last year, the firm earned $0.46 earnings per share. research analysts expect that Stock Yards Bancorp Inc will post 1.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 11th were given a $0.21 dividend. The ex-dividend date was Friday, December 8th. 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 2.23%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 44.21%.
In other Stock Yards Bancorp news, Director Paul J. Bickel III purchased 2,510 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were acquired at an average cost of $38.15 per share, for a total transaction of $95,756.50. Following the completion of the transaction, the director now owns 4,250 shares of the company’s stock, valued at $162,137.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David P. Heintzman sold 1,264 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.55, for a total transaction of $49,991.20. Following the completion of the transaction, the chief executive officer now owns 165,809 shares in the company, valued at $6,557,745.95. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,148 shares of company stock worth $120,593 and sold 9,372 shares worth $365,453. 6.20% of the stock is currently owned by company insiders.
SYBT has been the topic of several research reports. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 29th. BidaskClub cut shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.
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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