Bank of America Corp DE Decreases Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Bank of America Corp DE decreased its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,282 shares of the bank's stock after selling 9,602 shares during the quarter. Bank of America Corp DE owned about 0.53% of Stock Yards Bancorp worth $11,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Firethorn Wealth Partners LLC boosted its stake 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 worth $1,048,000 after purchasing an additional 136 shares during the period. Corient Private Wealth LLC increased its holdings in Stock Yards Bancorp by 0.6% during the 4th quarter. Corient Private Wealth LLC now owns 25,140 shares of the bank's stock worth $1,800,000 after acquiring an additional 152 shares during the period. Cerity Partners LLC lifted its stake in Stock Yards Bancorp by 0.9% in the 4th quarter. Cerity Partners LLC now owns 18,713 shares of the bank's stock worth $1,339,000 after purchasing an additional 160 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Stock Yards Bancorp by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock valued at $192,000 after purchasing an additional 171 shares during the period. Finally, Thoroughbred Financial Services LLC grew its position in shares of Stock Yards Bancorp by 0.9% during the 4th quarter. Thoroughbred Financial Services LLC now owns 23,771 shares of the bank's stock valued at $1,702,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company's stock.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the transaction, the director now owns 18,954 shares in the company, valued at $1,459,458. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the transaction, the director now directly owns 82,070 shares of the company's stock, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock valued at $449,427 in the last quarter. Company insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYBT shares. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday, April 24th. Stephens lifted their price target 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. Keefe, Bruyette & Woods lowered 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 note on Thursday, April 24th. Finally, 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. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of "Hold" and a consensus target price of $77.25.

Stock Yards Bancorp Trading Down 0.3%

Shares of SYBT traded down $0.24 during mid-day trading on Thursday, reaching $73.42. The company's stock had a trading volume of 92,697 shares, compared to its average volume of 129,286. Stock Yards Bancorp, Inc. has a 52 week low of $45.01 and a 52 week high of $79.85. The stock has a market cap of $2.16 billion, a PE ratio of 18.87 and a beta of 0.73. The company's fifty day moving average price is $71.20 and its two-hundred day moving average price is $72.56. 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 (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, beating the consensus estimate of $1.00 by $0.13. The business 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 period in the prior year, the business posted $0.88 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, June 16th. This represents a $1.24 annualized dividend and a yield of 1.69%. Stock Yards Bancorp's payout ratio is 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.