Alps Advisors Inc. Makes New $359,000 Investment in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Alps Advisors Inc. purchased a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,200 shares of the bank's stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYBT. Jones Financial Companies Lllp raised 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 during the period. Charles Schwab Investment Management Inc. increased its position in shares of Stock Yards Bancorp by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 222,632 shares of the bank's stock valued at $15,943,000 after acquiring an additional 3,605 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $954,000. Raymond James Financial Inc. acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $835,000. Finally, Swiss National Bank increased its position in shares of Stock Yards Bancorp by 0.7% in the fourth quarter. Swiss National Bank now owns 54,923 shares of the bank's stock valued at $3,933,000 after acquiring an additional 400 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stock Yards Bancorp

In other news, EVP William Dishman sold 2,802 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total value of $218,836.20. Following the completion of the transaction, the executive vice president directly owned 31,594 shares in the company, valued at approximately $2,467,491.40. This represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura L. Wells sold 4,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total transaction of $312,000.00. Following the transaction, the director owned 14,954 shares in the company, valued at $1,166,412. This trade represents a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,902 shares of company stock worth $1,296,210. 3.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYBT shares. Wall Street Zen cut Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut 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 report on Thursday, April 24th. Finally, Stephens increased their price objective 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. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $77.25.

Stock Yards Bancorp Stock Performance

SYBT traded up $0.60 during trading on Friday, hitting $79.14. The company's stock had a trading volume of 100,180 shares, compared to its average volume of 134,331. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.34. Stock Yards Bancorp, Inc. has a one year low of $53.21 and a one year high of $83.67. The firm has a market cap of $2.33 billion, a PE ratio of 19.12 and a beta of 0.72. The business's 50 day simple moving average is $76.78 and its 200-day simple moving average is $73.11.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 23.34% and a return on equity of 13.02%. The business had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. During the same quarter last year, the firm posted $0.88 EPS. As a group, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.57%. Stock Yards Bancorp's dividend payout ratio is currently 29.95%.

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.