Owen LaRue LLC Invests $1.03 Million in Stock Yards Bancorp, Inc. $SYBT

Key Points

• Owen LaRue LLC has invested approximately $1.03 million in Stock Yards Bancorp, purchasing 13,015 shares during the second quarter.
• Stock Yards Bancorp has seen a rise in analyst optimism, with price targets increasing from $80.00 to $86.00 by various firms, and a consensus rating of "Hold" from four analysts.
• The company announced a quarterly dividend increase to $0.32 per share, reflecting a 1.8% yield, with the payout set for October 1st.

Owen LaRue LLC bought a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,015 shares of the bank's stock, valued at approximately $1,028,000.

A number of other large investors also recently made changes to their positions in the company. Voloridge Investment Management LLC acquired a new stake in Stock Yards Bancorp during the fourth quarter worth approximately $329,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Stock Yards Bancorp by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,885 shares of the bank's stock worth $2,928,000 after buying an additional 3,099 shares in the last quarter. GAMMA Investing LLC grew its position in Stock Yards Bancorp by 7,142.2% during the first quarter. GAMMA Investing LLC now owns 22,306 shares of the bank's stock worth $1,540,000 after buying an additional 21,998 shares in the last quarter. Chatham Capital Group Inc. grew its position in Stock Yards Bancorp by 2.5% during the first quarter. Chatham Capital Group Inc. now owns 45,335 shares of the bank's stock worth $3,131,000 after buying an additional 1,095 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Stock Yards Bancorp by 57.7% during the first quarter. SG Americas Securities LLC now owns 9,978 shares of the bank's stock worth $689,000 after buying an additional 3,649 shares in the last quarter. Institutional investors own 56.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SYBT shares. Keefe, Bruyette & Woods increased their price target on 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 raised Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Piper Sandler increased their price target on Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $79.75.

Stock Yards Bancorp Trading Down 0.3%

Shares of SYBT stock opened at $70.95 on Friday. The stock's fifty day moving average price is $77.00 and its two-hundred day moving average price is $74.51. The company has a market cap of $2.09 billion, a PE ratio of 16.31 and a beta of 0.73. Stock Yards Bancorp, Inc. has a fifty-two week low of $57.12 and a fifty-two week high of $83.83. 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 issued its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The firm had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.28 annualized dividend and a yield of 1.8%. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.31. Stock Yards Bancorp's dividend payout ratio is 29.43%.

Insider Transactions at Stock Yards Bancorp

In related news, CEO James A. Hillebrand sold 2,162 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total transaction of $180,137.84. Following the completion of the transaction, the chief executive officer directly owned 107,292 shares of the company's stock, valued at $8,939,569.44. This trade represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

About Stock Yards Bancorp

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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