Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,282 shares of the bank's stock after selling 9,602 shares during the quarter. Bank of America Corp DE owned approximately 0.53% of Stock Yards Bancorp worth $11,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SYBT. Victory Capital Management Inc. boosted its holdings in Stock Yards Bancorp by 120.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock worth $76,953,000 after purchasing an additional 586,550 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Stock Yards Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank's stock worth $69,133,000 after buying an additional 24,011 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Stock Yards Bancorp by 2.1% in the 4th quarter. American Century Companies Inc. now owns 277,561 shares of the bank's stock worth $19,876,000 after buying an additional 5,661 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Stock Yards Bancorp by 13.0% in the 4th quarter. Northern Trust Corp now owns 274,295 shares of the bank's stock valued at $19,642,000 after buying an additional 31,529 shares during the period. Finally, Curi RMB Capital LLC grew its position in shares of Stock Yards Bancorp by 1.1% during the 4th quarter. Curi RMB Capital LLC now owns 253,020 shares of the bank's stock valued at $18,119,000 after buying an additional 2,651 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Stock Yards Bancorp Stock Performance

Shares of NASDAQ:SYBT traded up $0.73 during trading hours on Tuesday, hitting $74.13. The stock had a trading volume of 98,057 shares, compared to its average volume of 129,060. 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 stock's fifty day simple moving average is $70.94 and its 200 day simple moving average is $72.56. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.06 and a beta of 0.73. 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 announced its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The firm had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. During the same quarter in the previous year, the business earned $0.88 EPS. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.24 annualized dividend and a yield of 1.67%. Stock Yards Bancorp's payout ratio is 29.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SYBT shares. Stephens raised 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 report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price target on 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. Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a "neutral" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Stock Yards Bancorp has an average rating of "Hold" and an average target price of $77.25.

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.