11,664 Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,664 shares of the bank's stock, valued at approximately $835,000.

Several other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of Stock Yards Bancorp by 1,077.5% in the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock valued at $34,000 after acquiring an additional 431 shares in the last quarter. Principal Securities Inc. lifted its position in Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank's stock valued at $35,000 after purchasing an additional 260 shares during the period. Kentucky Trust Co purchased a new stake in Stock Yards Bancorp in the 4th quarter valued at approximately $44,000. Allworth Financial LP increased its position in Stock Yards Bancorp by 126.2% during the 4th quarter. Allworth Financial LP now owns 846 shares of the bank's stock worth $63,000 after purchasing an additional 472 shares during the period. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Stock Yards Bancorp during the 4th quarter worth approximately $113,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYBT shares. Stephens lifted their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a report on Thursday, April 24th.

Stock Yards Bancorp Stock Performance

SYBT opened at $73.53 on Tuesday. The stock's 50 day simple moving average is $69.22 and its 200 day simple moving average is $71.69. The stock has a market cap of $2.17 billion, a P/E ratio of 18.90 and a beta of 0.73. Stock Yards Bancorp, Inc. has a 1-year low of $44.36 and a 1-year high of $79.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The company had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp's payout ratio is currently 29.95%.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,419 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $74.71, for a total value of $255,433.49. Following the sale, the director now directly owns 83,651 shares in the company, valued at $6,249,566.21. This represents a 3.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by insiders.

About Stock Yards Bancorp

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.

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