Dark Forest Capital Management LP Invests $524,000 in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Dark Forest Capital Management LP bought a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,313 shares of the bank's stock, valued at approximately $524,000.

Several other large investors have also bought and sold shares of SYBT. Victory Capital Management Inc. boosted its stake in Stock Yards Bancorp by 120.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock valued at $76,953,000 after acquiring an additional 586,550 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Stock Yards Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank's stock worth $69,133,000 after buying an additional 24,011 shares in the last quarter. American Century Companies Inc. grew its position in Stock Yards Bancorp by 2.1% during the fourth quarter. American Century Companies Inc. now owns 277,561 shares of the bank's stock valued at $19,876,000 after acquiring an additional 5,661 shares during the last quarter. Curi RMB Capital LLC grew its position in Stock Yards Bancorp by 1.1% during the 4th quarter. Curi RMB Capital LLC now owns 253,020 shares of the bank's stock worth $18,119,000 after acquiring an additional 2,651 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Stock Yards Bancorp by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 222,632 shares of the bank's stock worth $15,943,000 after purchasing an additional 3,605 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director David P. Heintzman sold 1,581 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $74.00, for a total transaction of $116,994.00. Following the completion of the transaction, the director now owns 82,070 shares in the company, valued at $6,073,180. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

Stock Yards Bancorp Price Performance

Shares of SYBT stock traded up $0.30 on Thursday, reaching $73.09. The company's stock had a trading volume of 19,261 shares, compared to its average volume of 125,799. The stock's fifty day simple moving average is $69.08 and its 200-day simple moving average is $71.43. Stock Yards Bancorp, Inc. has a 1 year low of $44.32 and a 1 year high of $79.79. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 18.79 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

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, topping analysts' consensus estimates of $1.00 by $0.13. The firm had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same period in the previous year, the firm posted $0.88 EPS. Analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp's dividend payout ratio (DPR) is currently 29.95%.

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.