Northern Trust Corp Sells 6,919 Shares of Stock Yards Bancorp, Inc. $SYBT

Northern Trust Corp decreased its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,376 shares of the bank's stock after selling 6,919 shares during the period. Northern Trust Corp owned approximately 0.91% of Stock Yards Bancorp worth $18,465,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Sippican Capital Advisors boosted its holdings in Stock Yards Bancorp by 0.8% during the first quarter. Sippican Capital Advisors now owns 17,984 shares of the bank's stock worth $1,242,000 after purchasing an additional 140 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 during the last quarter. Arizona State Retirement System boosted its holdings in Stock Yards Bancorp by 4.0% during the first quarter. Arizona State Retirement System now owns 8,413 shares of the bank's stock worth $581,000 after purchasing an additional 326 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Stock Yards Bancorp by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,567 shares of the bank's stock worth $1,043,000 after purchasing an additional 499 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its holdings in Stock Yards Bancorp by 0.6% during the first quarter. Meridian Wealth Management LLC now owns 144,054 shares of the bank's stock worth $9,948,000 after purchasing an additional 844 shares during the last quarter. Institutional investors own 56.46% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Stock Yards Bancorp

In other news, EVP Michael Croce sold 4,100 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total value of $315,946.00. Following the transaction, the executive vice president directly owned 24,600 shares of the company's stock, valued at $1,895,676. This represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Dishman sold 2,802 shares of the stock in a transaction dated 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 $2,467,491.40. The trade was a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,064 shares of company stock valued at $1,026,920 over the last three months. Company insiders own 3.40% of the company's stock.

Stock Yards Bancorp Stock Performance

SYBT stock traded down $1.34 during trading hours on Friday, reaching $79.36. The stock had a trading volume of 70,055 shares, compared to its average volume of 89,450. The stock has a market capitalization of $2.34 billion, a PE ratio of 18.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $78.35 and a 200 day simple moving average of $74.14. Stock Yards Bancorp, Inc. has a fifty-two week low of $56.35 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The firm had revenue of $97.91 million during the quarter, compared to analysts' expectations of $95.32 million. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. Analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Stock Yards Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. Stock Yards Bancorp's payout ratio is currently 28.51%.

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.