SG Americas Securities LLC Acquires 3,649 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

SG Americas Securities LLC lifted its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 57.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,978 shares of the bank's stock after purchasing an additional 3,649 shares during the period. SG Americas Securities LLC's holdings in Stock Yards Bancorp were worth $689,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Chatham Capital Group Inc. grew its stake in shares of Stock Yards Bancorp by 2.5% in the first quarter. Chatham Capital Group Inc. now owns 45,335 shares of the bank's stock worth $3,131,000 after purchasing an additional 1,095 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Stock Yards Bancorp by 7,142.2% in the 1st 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Stock Yards Bancorp by 8.2% in the 4th 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 during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $329,000. Finally, Rafferty Asset Management LLC increased its stake in shares of Stock Yards Bancorp by 43.8% during the fourth quarter. Rafferty Asset Management LLC now owns 22,058 shares of the bank's stock valued at $1,580,000 after buying an additional 6,723 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Down 0.1%

NASDAQ:SYBT traded down $0.11 during mid-day trading on Tuesday, hitting $77.35. 123,438 shares of the company's stock were exchanged, compared to its average volume of 132,435. The business has a fifty day moving average price of $73.99 and a 200 day moving average price of $72.38. Stock Yards Bancorp, Inc. has a one year low of $46.70 and a one year high of $79.85. The company has a market cap of $2.28 billion, a PE ratio of 18.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.94 and a quick ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. The company had revenue of $93.63 million during the quarter, compared to analyst estimates of $92.90 million. Stock Yards Bancorp had a return on equity of 13.02% and a net margin of 23.34%. During the same quarter last year, the company earned $0.88 EPS. Equities analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. Stock Yards Bancorp's payout ratio is presently 29.95%.

Analyst Ratings Changes

SYBT has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen cut shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Stephens increased their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the company a "neutral" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.25.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction on Monday, April 28th. The stock was sold at an average price of $74.00, for a total value of $116,994.00. Following the completion of the sale, the director now owns 82,070 shares of the company's stock, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura L. Wells sold 4,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total value of $312,000.00. Following the transaction, the director now directly owns 14,954 shares in the company, valued at approximately $1,166,412. The trade was a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,100 shares of company stock valued at $1,077,373 in the last quarter. 3.40% of the stock is owned by insiders.

Stock Yards Bancorp Company 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.