Deutsche Bank AG Purchases Shares of 28,989 Stock Yards Bancorp, Inc. $SYBT

Key Points

• Deutsche Bank acquired 28,989 shares of Stock Yards Bancorp worth approximately $2.2 million, while institutional investors collectively own 56.46% of the company.
• Stock Yards Bancorp beat quarterly earnings expectations, reporting $1.31 EPS versus the $1.08 consensus and revenue of $114.71 million compared with estimates of $111.66 million.
• The bank raised its quarterly dividend to $0.33 per share, or $1.32 annually, representing a 1.7% yield; analysts maintain a consensus “Hold” rating with an $88 price target.

Deutsche Bank AG purchased a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,989 shares of the bank's stock, valued at approximately $2,217,000. Deutsche Bank AG owned about 0.09% of Stock Yards Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC bought a new stake in shares of Stock Yards Bancorp during the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. acquired a new position in shares of Stock Yards Bancorp in the third quarter valued at $45,000. Empowered Funds LLC acquired a new position in shares of Stock Yards Bancorp in the fourth quarter valued at $60,000. Finally, Covestor Ltd lifted 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 purchasing an additional 678 shares during the period. Institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $79.73 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.48 billion, a PE ratio of 15.88 and a beta of 0.68. Stock Yards Bancorp, Inc. has a 12 month low of $61.51 and a 12 month high of $89.21. The company's 50-day moving average price is $80.47 and its two-hundred day moving average price is $73.09.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) 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 13.39%. The company had revenue of $114.71 million during the quarter, compared to analysts' expectations of $111.66 million. On average, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 5.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be paid a $0.33 dividend. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, September 21st. Stock Yards Bancorp's payout ratio is presently 25.50%.

Insider Activity at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction 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 in the company, valued at approximately $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale 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

A number of equities analysts have recently issued reports on SYBT shares. Keefe, Bruyette & Woods increased their price objective on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the company a "market perform" rating in a research note on Friday, July 31st. Piper Sandler reissued a "neutral" rating and issued a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Weiss Ratings raised Stock Yards Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 6th. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen raised Stock Yards Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $88.00.

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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