10,986 Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,986 shares of the bank's stock, valued at approximately $787,000.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Stock Yards Bancorp by 164.5% in the 4th 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 boosted its stake in shares of Stock Yards Bancorp by 1,077.5% in the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock valued at $34,000 after purchasing an additional 431 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Kentucky Trust Co acquired a new stake in shares of Stock Yards Bancorp in the 4th quarter valued at approximately $44,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after purchasing an additional 718 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Trading Down 0.4%

NASDAQ:SYBT traded down $0.32 during mid-day trading on Tuesday, hitting $76.19. 12,559 shares of the company's stock were exchanged, compared to its average volume of 127,968. 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 fifty-two week low of $44.36 and a fifty-two week high of $79.85. The company has a 50 day simple moving average of $70.41 and a 200-day simple moving average of $72.44. The firm has a market capitalization of $2.25 billion, a P/E ratio of 19.58 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.13. The firm had revenue of $93.63 million during the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.88 EPS. As a group, research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYBT shares. Keefe, Bruyette & Woods reduced 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 research note on Thursday, April 24th. Stephens lifted their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, StockNews.com upgraded shares of Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $77.25.

Insider Activity

In other Stock Yards Bancorp news, Director Laura L. Wells sold 1,000 shares of Stock Yards Bancorp 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 transaction, the director now directly owns 18,954 shares of the company's stock, valued at $1,459,458. The trade was a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Heintzman sold 3,419 shares of Stock Yards Bancorp stock in a transaction on Friday, April 25th. The stock was sold at an average price of $74.71, for a total transaction of $255,433.49. Following the transaction, the director now directly owns 83,651 shares in the company, valued at $6,249,566.21. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock worth $449,427 in the last quarter. 3.40% of the stock is owned by corporate insiders.

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.