Rafferty Asset Management LLC Buys 6,723 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Rafferty Asset Management LLC lifted its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,058 shares of the bank's stock after buying an additional 6,723 shares during the period. Rafferty Asset Management LLC owned approximately 0.07% of Stock Yards Bancorp worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in Stock Yards Bancorp by 120.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock valued at $76,953,000 after acquiring an additional 586,550 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Stock Yards Bancorp by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank's stock valued at $69,133,000 after purchasing an additional 24,011 shares during the last quarter. American Century Companies Inc. increased its position in shares of Stock Yards Bancorp by 2.1% during the 4th quarter. American Century Companies Inc. now owns 277,561 shares of the bank's stock valued at $19,876,000 after purchasing an additional 5,661 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Stock Yards Bancorp by 13.0% in the 4th quarter. Northern Trust Corp now owns 274,295 shares of the bank's stock worth $19,642,000 after purchasing an additional 31,529 shares during the period. Finally, Curi RMB Capital LLC boosted its holdings in shares of Stock Yards Bancorp by 1.1% in the fourth quarter. Curi RMB Capital LLC now owns 253,020 shares of the bank's stock worth $18,119,000 after buying an additional 2,651 shares during the last quarter. Institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT traded down $0.18 during midday trading on Monday, reaching $73.40. The stock had a trading volume of 80,059 shares, compared to its average volume of 129,184. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 18.87 and a beta of 0.73. Stock Yards Bancorp, Inc. has a 12-month low of $44.36 and a 12-month high of $79.85. The stock has a 50-day moving average of $70.87 and a 200-day moving average of $72.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.13. The company had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, June 16th. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director Laura L. Wells sold 1,000 shares of Stock Yards Bancorp stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the sale, the director now directly owns 18,954 shares in the company, valued at approximately $1,459,458. The trade was a 5.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David P. Heintzman sold 1,581 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the transaction, the director now directly owns 82,070 shares of the company's stock, valued at $6,073,180. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,000 shares of company stock worth $449,427. 3.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Stephens raised their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the company a "neutral" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $77.25.

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.