Raymond James Financial Inc. Takes $835,000 Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in shares of Stock Yards Bancorp by 1,077.5% during the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock worth $34,000 after acquiring an additional 431 shares during the period. Principal Securities Inc. lifted its holdings in Stock Yards Bancorp by 115.6% during the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock worth $35,000 after purchasing an additional 260 shares during the last quarter. Kentucky Trust Co acquired a new stake in Stock Yards Bancorp during the 4th quarter worth approximately $44,000. Allworth Financial LP lifted its holdings 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 last quarter. Finally, Pillar Financial Advisors LLC acquired a new stake in Stock Yards Bancorp during the 4th quarter worth approximately $113,000. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Trading Up 0.1%

Shares of Stock Yards Bancorp stock traded up $0.06 on Friday, hitting $75.91. 84,544 shares of the company's stock traded hands, compared to its average volume of 127,618. Stock Yards Bancorp, Inc. has a one year low of $44.36 and a one 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. The company has a fifty day moving average of $69.41 and a two-hundred day moving average of $71.95. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 19.51 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.00 by $0.13. The company had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts expect 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 Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.31 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.63%. Stock Yards Bancorp's dividend payout ratio is presently 29.95%.

Insider Activity

In other news, Director David P. Heintzman sold 3,419 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 83,651 shares in the company, valued at $6,249,566.21. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SYBT shares. Stephens lifted their price objective on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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 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.