Ameriprise Financial Inc. Cuts Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Ameriprise Financial Inc. cut its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,432 shares of the bank's stock after selling 3,830 shares during the quarter. Ameriprise Financial Inc. owned 0.74% of Stock Yards Bancorp worth $15,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYBT. Covestor Ltd raised its position in Stock Yards Bancorp by 164.5% during the fourth quarter. Covestor Ltd now owns 373 shares of the bank's stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. Jones Financial Companies Lllp raised its holdings 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 buying an additional 431 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of 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 buying an additional 260 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Stock Yards Bancorp during the 4th quarter worth $44,000. Finally, Sterling Capital Management LLC boosted its stake in Stock Yards Bancorp by 806.7% in the fourth quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after buying an additional 718 shares in the last quarter. Institutional investors own 56.46% of the company's stock.

Insider Buying and Selling

In other news, Director David P. Heintzman sold 1,581 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $74.00, for a total value of $116,994.00. Following the transaction, the director now owns 82,070 shares of the company's stock, valued at $6,073,180. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Laura L. Wells sold 1,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the sale, the director now owns 18,954 shares in the company, valued at approximately $1,459,458. This trade represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,000 shares of company stock worth $449,427. Corporate insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SYBT shares. Keefe, Bruyette & Woods lowered their target price on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. StockNews.com lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Stephens increased their price target 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. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $77.25.

Stock Yards Bancorp Stock Performance

SYBT traded down $0.47 on Thursday, hitting $73.52. The company's stock had a trading volume of 4,042 shares, compared to its average volume of 128,259. Stock Yards Bancorp, Inc. has a 12 month low of $44.36 and a 12 month high of $79.85. The company's 50 day simple moving average is $70.70 and its 200-day simple moving average is $72.47. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.17 billion, a P/E ratio of 18.86 and a beta of 0.73.

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. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The business 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 firm posted $0.88 EPS. Analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 29.95%.

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.