Alps Advisors Inc. Purchases New Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Alps Advisors Inc. bought a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,200 shares of the bank's stock, valued at approximately $359,000.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in Stock Yards Bancorp by 164.5% during the fourth quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares during the last quarter. Jones Financial Companies Lllp boosted its position 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 worth $34,000 after buying an additional 431 shares in the last quarter. Sterling Capital Management LLC grew its stake in 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 acquiring an additional 718 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Stock Yards Bancorp by 18.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock valued at $110,000 after acquiring an additional 234 shares in the last quarter. Finally, KBC Group NV acquired a new position in Stock Yards Bancorp during the first quarter worth about $114,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Trading Up 1.3%

SYBT stock traded up $1.01 during midday trading on Wednesday, hitting $77.80. The stock had a trading volume of 138,650 shares, compared to its average volume of 134,644. The company's 50-day moving average price is $76.57 and its 200 day moving average price is $72.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $2.29 billion, a PE ratio of 18.79 and a beta of 0.72. Stock Yards Bancorp, Inc. has a 12-month low of $53.21 and a 12-month high of $83.67.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 13.02% and a net margin of 23.34%. The business had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed 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 was Monday, June 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.59%. Stock Yards Bancorp's payout ratio is currently 29.95%.

Insider Activity at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 1,581 shares of the company's 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 completion of the transaction, the director owned 82,070 shares of the company's stock, valued at approximately $6,073,180. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Croce sold 4,100 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total value of $315,946.00. Following the completion of the transaction, the executive vice president directly owned 24,600 shares in the company, valued at $1,895,676. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,902 shares of company stock valued at $1,296,210 over the last three months. Insiders own 3.40% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. 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. Stephens upped their price objective 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. Finally, Keefe, Bruyette & Woods decreased 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. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $77.25.

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.