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

Stock Yards Bank & Trust Co. lessened its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 971,902 shares of the bank’s stock after selling 23,864 shares during the period. Stock Yards Bancorp accounts for approximately 2.1% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 13th largest holding. Stock Yards Bank & Trust Co.’s holdings in Stock Yards Bancorp were worth $68,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Stock Yards Bancorp in the 3rd quarter worth about $219,000. Sequoia Financial Advisors LLC purchased a new position in shares of Stock Yards Bancorp during the third quarter worth about $1,638,000. State of Alaska Department of Revenue bought a new position in shares of Stock Yards Bancorp in the third quarter worth approximately $92,000. SG Americas Securities LLC raised its stake in Stock Yards Bancorp by 144.6% in the third quarter. SG Americas Securities LLC now owns 14,077 shares of the bank’s stock valued at $985,000 after purchasing an additional 8,321 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Stock Yards Bancorp by 12.7% during the third quarter. KLP Kapitalforvaltning AS now owns 6,200 shares of the bank’s stock valued at $436,000 after purchasing an additional 700 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Trading Down 1.0%

Shares of SYBT opened at $67.82 on Wednesday. Stock Yards Bancorp, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $83.83. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 14.81 and a beta of 0.69. The firm has a 50 day moving average price of $66.87 and a 200-day moving average price of $71.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The company had revenue of $101.60 million for the quarter, compared to analysts’ expectations of $100.00 million. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.65%. As a group, equities research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, December 15th. Stock Yards Bancorp’s payout ratio is 27.95%.

Insiders Place Their Bets

In related news, Director David L. Hardy purchased 2,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of $66.53 per share, for a total transaction of $133,060.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at $133,060. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SYBT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.67.

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.