Balyasny Asset Management L.P. Makes New $787,000 Investment in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Balyasny Asset Management L.P. purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,986 shares of the bank's stock, valued at approximately $787,000.

Several other large investors have also recently bought and sold shares of SYBT. Barclays PLC raised its holdings in Stock Yards Bancorp by 137.8% in the 3rd 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 period. JPMorgan Chase & Co. raised its holdings in Stock Yards Bancorp by 6.5% in the 3rd 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 period. SG Americas Securities LLC bought a new position in Stock Yards Bancorp in the 4th quarter valued at about $453,000. Baron Silver Stevens Financial Advisors LLC bought a new position in Stock Yards Bancorp in the 4th quarter valued at about $749,000. Finally, Firethorn Wealth Partners LLC raised its holdings in Stock Yards Bancorp by 0.9% in the 4th quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank's stock valued at $1,048,000 after acquiring an additional 136 shares during the period. 56.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYBT. StockNews.com upgraded shares of Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday. 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. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, Stephens increased 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. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $77.25.

Insider Buying and Selling

In related news, Director David P. Heintzman sold 1,581 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the sale, the director now owns 82,070 shares in the company, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by company insiders.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT traded down $0.80 during trading hours on Friday, hitting $76.29. 109,650 shares of the stock were exchanged, compared to its average volume of 128,605. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $2.25 billion, a PE ratio of 19.61 and a beta of 0.73. The company's fifty day simple moving average is $70.24 and its two-hundred day simple moving average is $72.30. Stock Yards Bancorp, Inc. has a 1-year low of $44.36 and a 1-year high of $79.85.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted 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 business had revenue of $93.63 million for 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 posted $0.88 EPS. On average, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

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