Deutsche Bank AG increased its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 50.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,872 shares of the bank's stock after purchasing an additional 8,048 shares during the quarter. Deutsche Bank AG owned 0.08% of Stock Yards Bancorp worth $1,709,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SYBT. Covestor Ltd boosted its stake in shares of Stock Yards Bancorp by 164.5% during the 4th 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 stake in shares of Stock Yards Bancorp by 1,077.5% during the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock worth $34,000 after purchasing an additional 431 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Stock Yards Bancorp by 115.6% during the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock worth $35,000 after purchasing an additional 260 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Stock Yards Bancorp during the 4th quarter worth about $44,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock worth $58,000 after purchasing an additional 718 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on SYBT shares. Wall Street Zen cut 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 objective on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Stephens increased their price objective on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, Stock Yards Bancorp has an average rating of "Hold" and an average target price of $77.25.
Get Our Latest Report on SYBT
Stock Yards Bancorp Stock Up 1.0%
Shares of SYBT stock traded up $0.73 on Tuesday, hitting $74.13. The stock had a trading volume of 98,057 shares, compared to its average volume of 129,060. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.06 and a beta of 0.73. The stock's 50 day moving average is $70.94 and its 200-day moving average is $72.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. Stock Yards Bancorp, Inc. has a 52-week low of $44.36 and a 52-week high of $79.85.
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 firm had revenue of $93.63 million for the quarter, compared to analysts' expectations 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 company posted $0.88 earnings per share. As a group, research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.
Stock Yards Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.67%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.
Insiders Place Their Bets
In related news, Director David P. Heintzman sold 3,419 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $74.71, for a total value of $255,433.49. Following the completion of the transaction, the director now owns 83,651 shares in the company, valued at $6,249,566.21. This represents a 3.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laura L. Wells sold 1,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $77.00, for a total transaction of $77,000.00. Following the completion of the transaction, the director now owns 18,954 shares of the company's stock, valued at $1,459,458. This represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,000 shares of company stock valued at $449,427. Company insiders own 3.40% of the company's stock.
About Stock Yards Bancorp
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Free Report)
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.
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