NFJ Investment Group LLC Reduces Holdings in Stock Yards Bancorp, Inc. $SYBT

Key Points

• NFJ Investment Group LLC reduced its stake in Stock Yards Bancorp by 7.8%, owning 63,261 shares valued at approximately $4.37 million as of the latest SEC filing.
• Stock Yards Bancorp recently declared a quarterly dividend of $0.32, representing a positive change from the previous dividend and indicating a yield of 1.6%.
• Analysts have mixed ratings on Stock Yards Bancorp, with a consensus rating of "Hold" and recent target price adjustments from brokerages ranging from $79.75 to $86.00.

NFJ Investment Group LLC reduced its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,261 shares of the bank's stock after selling 5,325 shares during the period. NFJ Investment Group LLC owned approximately 0.21% of Stock Yards Bancorp worth $4,369,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Stock Yards Bancorp by 18.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock worth $110,000 after purchasing an additional 234 shares in the last quarter. KBC Group NV purchased a new position in Stock Yards Bancorp during the first quarter worth about $114,000. Johnson Investment Counsel Inc. acquired a new position in Stock Yards Bancorp during the first quarter worth about $223,000. Quantbot Technologies LP grew its position in Stock Yards Bancorp by 132.8% during the first quarter. Quantbot Technologies LP now owns 4,070 shares of the bank's stock worth $281,000 after buying an additional 2,322 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Stock Yards Bancorp during the first quarter worth about $296,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total transaction of $180,137.84. Following the transaction, the chief executive officer owned 107,292 shares of the company's stock, valued at $8,939,569.44. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Dishman sold 2,802 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total transaction of $218,836.20. Following the completion of the transaction, the executive vice president directly owned 31,594 shares in the company, valued at approximately $2,467,491.40. This represents a 8.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Stock Yards Bancorp Trading Down 0.4%

NASDAQ SYBT traded down $0.29 during mid-day trading on Thursday, reaching $76.92. 22,522 shares of the stock were exchanged, compared to its average volume of 119,420. Stock Yards Bancorp, Inc. has a 1-year low of $57.12 and a 1-year high of $83.83. The business's fifty day simple moving average is $78.21 and its 200 day simple moving average is $74.22. The stock has a market capitalization of $2.27 billion, a PE ratio of 17.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. The firm had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.32 million. On average, research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 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 Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.32 per share. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, September 15th. Stock Yards Bancorp's payout ratio is 28.51%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYBT. Keefe, Bruyette & Woods upped their target price on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. Finally, Piper Sandler increased their price target on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $79.75.

Stock Yards Bancorp 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.