Stock Yards Bank & Trust Co. Trims Position in Stock Yards Bancorp, Inc. $SYBT

Stock Yards Bank & Trust Co. cut its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 995,766 shares of the bank’s stock after selling 40,147 shares during the quarter. Stock Yards Bancorp makes up approximately 2.6% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 9th largest holding. Stock Yards Bank & Trust Co. owned about 3.38% of Stock Yards Bancorp worth $78,646,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SYBT. KBC Group NV bought a new stake in shares of Stock Yards Bancorp in the first quarter worth about $114,000. Truist Financial Corp bought a new stake in shares of Stock Yards Bancorp in the second quarter worth about $207,000. Johnson Investment Counsel Inc. bought a new stake in shares of Stock Yards Bancorp in the first quarter worth about $223,000. Contravisory Investment Management Inc. bought a new stake in shares of Stock Yards Bancorp in the second quarter worth about $256,000. Finally, Quantbot Technologies LP grew its stake in shares of Stock Yards Bancorp by 132.8% in the first quarter. Quantbot Technologies LP now owns 4,070 shares of the bank’s stock worth $281,000 after purchasing an additional 2,322 shares during the last quarter. 56.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO James A. Hillebrand sold 2,162 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 107,292 shares in the company, valued at $8,939,569.44. The trade was a 1.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYBT has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Stock Yards Bancorp in a research note on Saturday, September 27th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Wall Street Zen cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Finally, Piper Sandler lifted their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.75.

Stock Yards Bancorp Price Performance

SYBT stock opened at $69.61 on Friday. The firm has a 50 day moving average price of $75.83 and a 200-day moving average price of $74.57. Stock Yards Bancorp, Inc. has a 52-week low of $58.50 and a 52-week high of $83.83. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. The firm had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.32 million. Equities research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, September 15th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.31. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 29.43%.

Stock Yards Bancorp Company Profile

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.