Baird Financial Group Inc. Sells 4,745 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Baird Financial Group Inc. cut its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,727 shares of the bank's stock after selling 4,745 shares during the period. Baird Financial Group Inc. owned approximately 0.18% of Stock Yards Bancorp worth $3,776,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $749,000. Barclays PLC increased its position in shares of Stock Yards Bancorp by 137.8% in the third quarter. Barclays PLC now owns 45,801 shares of the bank's stock valued at $2,840,000 after acquiring an additional 26,537 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Stock Yards Bancorp by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank's stock valued at $1,390,000 after acquiring an additional 1,360 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $1,193,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $453,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stock Yards Bancorp

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

Analysts Set New Price Targets

A number of analysts recently issued reports on SYBT shares. Stephens lifted their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price target on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. StockNews.com raised Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday. Finally, Piper Sandler set a $81.00 price target on Stock Yards Bancorp and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $77.25.

Stock Yards Bancorp Trading Down 1.0%

NASDAQ:SYBT traded down $0.79 during trading hours on Friday, hitting $76.31. 34,465 shares of the company were exchanged, compared to its average volume of 122,104. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 19.62 and a beta of 0.73. 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 one year low of $44.36 and a one year high of $79.85. The company has a fifty day simple moving average of $70.06 and a 200 day simple moving average of $72.18.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly 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 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 the consensus estimate of $92.90 million. During the same period last year, the business posted $0.88 EPS. Sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

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