Corient Private Wealth LP Acquires New Position in Stock Yards Bancorp, Inc. $SYBT

Key Points

• Corient Private Wealth acquired 13,698 shares of Stock Yards Bancorp worth approximately $1.05 million, while institutional investors collectively own 56.46% of the company.
• Analysts remain broadly cautious, with one Buy rating and six Hold ratings; the consensus price target is $88, compared with the stock’s reported price of $79.49.
• Stock Yards Bancorp exceeded quarterly earnings expectations, reporting $1.31 EPS and $114.71 million in revenue, and raised its quarterly dividend to $0.33 per share.

Corient Private Wealth LP bought a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,698 shares of the bank's stock, valued at approximately $1,047,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Stock Yards Bancorp in the second quarter valued at $165,219,000. The Manufacturers Life Insurance Company acquired a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at about $15,848,000. Aptus Capital Advisors LLC lifted its holdings in shares of Stock Yards Bancorp by 0.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank's stock worth $12,191,000 after acquiring an additional 816 shares during the period. Bank of America Corp DE lifted its holdings in shares of Stock Yards Bancorp by 47.2% during the 3rd quarter. Bank of America Corp DE now owns 183,724 shares of the bank's stock worth $12,859,000 after acquiring an additional 58,942 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Stock Yards Bancorp by 691.5% in the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank's stock worth $11,561,000 after acquiring an additional 155,512 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stock Yards Bancorp

In related news, Director Laura Wells sold 6,823 shares of Stock Yards Bancorp stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the transaction, the director directly owned 9,580 shares in the company, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

SYBT has been the subject of several research analyst reports. Stephens set a $87.00 price target on shares of Stock Yards Bancorp and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Piper Sandler reissued a "neutral" rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Keefe, Bruyette & Woods upped their price objective on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a "market perform" rating in a report on Friday, July 31st. Weiss Ratings raised Stock Yards Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 6th. Finally, Hovde Group downgraded Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $88.00.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $79.49 on Friday. The stock has a market cap of $2.47 billion, a P/E ratio of 15.83 and a beta of 0.66. Stock Yards Bancorp, Inc. has a 1-year low of $61.51 and a 1-year high of $89.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $81.05 and a two-hundred day moving average of $73.49.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.23. The company had revenue of $114.71 million for the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. On average, research analysts expect that Stock Yards Bancorp, Inc. will post 5.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 21st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, September 21st. This is a positive change from Stock Yards Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. Stock Yards Bancorp's dividend payout ratio is 25.50%.

About Stock Yards Bancorp

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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