Arrowstreet Capital Limited Partnership Buys Shares of 25,295 Stock Yards Bancorp, Inc. $SYBT

Key Points

• Arrowstreet Capital acquired 25,295 shares of Stock Yards Bancorp in the first quarter, valued at approximately $1.68 million. Institutional investors and hedge funds collectively own 56.46% of the company.
• Stock Yards Bancorp exceeded quarterly earnings expectations, reporting $1.31 in EPS versus the $1.08 consensus estimate, while revenue reached $114.71 million. Analysts maintain a consensus “Hold” rating with an average price target of $88.
• The bank declared a quarterly dividend of $0.32, equivalent to an annualized $1.28 payout and a 1.5% yield. Shares recently traded at $84.80, near the company’s 52-week high of $89.21.

Arrowstreet Capital Limited Partnership purchased a new stake 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. The fund purchased 25,295 shares of the bank's stock, valued at approximately $1,677,000. Arrowstreet Capital Limited Partnership owned approximately 0.09% of Stock Yards Bancorp as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYBT. Quarry LP acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at about $28,000. Brown Brothers Harriman & Co. acquired a new stake in Stock Yards Bancorp in the third quarter valued at approximately $45,000. Empowered Funds LLC acquired a new stake in Stock Yards Bancorp in the fourth quarter valued at approximately $60,000. Covestor Ltd grew its position in Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank's stock worth $76,000 after acquiring an additional 678 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in Stock Yards Bancorp in the first quarter worth approximately $85,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SYBT shares. Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a "hold" rating for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Wall Street Zen raised Stock Yards Bancorp from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods boosted their price target on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Finally, Piper Sandler reiterated a "neutral" rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $88.00.

Stock Yards Bancorp Trading Down 0.7%

Shares of SYBT stock opened at $84.80 on Thursday. The firm has a market capitalization of $2.50 billion, a P/E ratio of 16.89 and a beta of 0.68. Stock Yards Bancorp, Inc. has a 1 year low of $61.51 and a 1 year high of $89.21. The firm's fifty day simple moving average is $77.22 and its 200 day simple moving average is $71.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. The firm had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. As a group, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 5.14 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.5%. Stock Yards Bancorp's dividend payout ratio is 25.50%.

Insider Activity at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the sale, the director owned 9,580 shares of the company's stock, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Philip Poindexter sold 1,221 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the sale, the president owned 53,376 shares in the company, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company's stock.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank's core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.

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