Baird Financial Group Inc. Lowers Stock Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Baird Financial Group Inc. lowered its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 52,727 shares of the bank's stock after selling 4,745 shares during the period. Baird Financial Group Inc. owned about 0.18% of Stock Yards Bancorp worth $3,776,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SYBT. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Stock Yards Bancorp during the fourth quarter worth about $749,000. Barclays PLC grew its holdings in Stock Yards Bancorp by 137.8% during the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank's stock valued at $2,840,000 after buying an additional 26,537 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Stock Yards Bancorp by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank's stock valued at $1,390,000 after buying an additional 1,360 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $1,193,000. Finally, SG Americas Securities LLC bought a new position in shares of Stock Yards Bancorp during the fourth quarter worth $453,000. Hedge funds and other institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Trading Up 0.1 %

SYBT opened at $75.91 on Friday. The stock has a 50-day moving average of $69.41 and a 200 day moving average of $71.91. 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, Inc. has a 12 month low of $44.36 and a 12 month high of $79.79. The firm has a market cap of $2.24 billion, a P/E 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, topping analysts' consensus estimates 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 firm had revenue of $93.63 million during the quarter, compared to analysts' expectations of $92.90 million. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Monday, March 17th. Stock Yards Bancorp's dividend payout ratio is currently 29.95%.

Insider Transactions at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 1,581 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 82,070 shares of the company's stock, valued at approximately $6,073,180. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stephens boosted their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Piper Sandler set a $81.00 price target on Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th.

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.

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