Dimensional Fund Advisors LP Sells 14,171 Shares of Stock Yards Bancorp, Inc. $SYBT

Key Points

• Dimensional Fund Advisors reduced its Stock Yards Bancorp position by 1.6%, selling 14,171 shares but retaining 879,209 shares worth approximately $58.3 million, or 2.98% of the company. Institutional investors collectively own 56.46% of SYBT.
• Stock Yards Bancorp reported quarterly earnings of $1.31 per share, exceeding analysts’ $1.08 estimate, while revenue of $114.67 million also surpassed expectations. The bank declared a $0.32 quarterly dividend, equivalent to a 1.5% yield.
• Analysts maintain a generally cautious outlook, with one Buy rating and six Holds, resulting in a consensus “Hold” rating and an average price target of $88.00. The stock recently opened at $85.10, near its 52-week high of $89.21.

Dimensional Fund Advisors LP lowered its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 879,209 shares of the bank's stock after selling 14,171 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.98% of Stock Yards Bancorp worth $58,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Stock Yards Bancorp in the third quarter worth approximately $28,000. Brown Brothers Harriman & Co. purchased a new stake in Stock Yards Bancorp during the third quarter valued at approximately $45,000. Empowered Funds LLC bought a new position in Stock Yards Bancorp in the fourth quarter worth approximately $60,000. Covestor Ltd raised 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 acquiring an additional 678 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of Stock Yards Bancorp during the 1st quarter worth $85,000. Institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $85.10 on Friday. The business's 50-day simple moving average is $76.44 and its two-hundred day simple moving average is $71.11. Stock Yards Bancorp, Inc. has a 52 week low of $61.51 and a 52 week high of $89.21. The stock has a market cap of $2.51 billion, a PE ratio of 16.95 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.93% and a net margin of 25.41%.The firm had revenue of $114.67 million during the quarter, compared to analyst estimates of $111.66 million. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 5.15 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. Stock Yards Bancorp's payout ratio is currently 25.50%.

Analyst Ratings Changes

SYBT has been the subject of several analyst reports. Wall Street Zen upgraded Stock Yards Bancorp from a "strong sell" rating to a "sell" rating in a research note on Saturday. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the company an "equal weight" rating in a research report on Thursday. Piper Sandler reissued a "neutral" rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Weiss Ratings restated a "buy (b-)" rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Finally, Raymond James Financial initiated coverage on Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a "hold" rating on the stock. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $88.00.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares of the company's stock, valued at $3,772,615.68. This trade represents a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

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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