Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Position Lowered by Stephens Inc. AR

Stephens Inc. AR cut its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 54.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,918 shares of the bank's stock after selling 3,457 shares during the period. Stephens Inc. AR's holdings in Stock Yards Bancorp were worth $202,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Stock Yards Bancorp during the fourth quarter valued at approximately $5,761,000. Adage Capital Partners GP L.L.C. acquired a new stake in Stock Yards Bancorp in the 4th quarter valued at approximately $4,891,000. Clark Capital Management Group Inc. bought a new stake in Stock Yards Bancorp during the 4th quarter valued at $4,106,000. Aptus Capital Advisors LLC raised its stake in Stock Yards Bancorp by 38.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 131,070 shares of the bank's stock valued at $9,386,000 after acquiring an additional 36,114 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Stock Yards Bancorp by 13.0% during the 4th quarter. Northern Trust Corp now owns 274,295 shares of the bank's stock worth $19,642,000 after acquiring an additional 31,529 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

Shares of SYBT stock traded down $2.16 during mid-day trading on Thursday, hitting $79.38. 128,386 shares of the stock traded hands, compared to its average volume of 158,675. The company's 50-day simple moving average is $76.98 and its 200-day simple moving average is $73.36. Stock Yards Bancorp, Inc. has a twelve month low of $53.21 and a twelve month high of $83.67. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 18.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $1.15 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 13.51%. The business had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. As a group, equities research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a $0.31 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.56%. Stock Yards Bancorp's dividend payout ratio is currently 29.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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 note on Thursday. Stephens increased their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating 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 note on Wednesday, May 21st. Finally, Piper Sandler upped their price target on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a "neutral" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $79.75.

Insider Buying and Selling

In other news, Director David P. Heintzman sold 3,419 shares of the company's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $74.71, for a total transaction of $255,433.49. Following the completion of the sale, the director directly owned 83,651 shares of the company's stock, valued at $6,249,566.21. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Croce sold 4,100 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total value of $315,946.00. Following the completion of the transaction, the executive vice president owned 24,600 shares of the company's stock, valued at $1,895,676. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,902 shares of company stock worth $1,296,210 over the last three months. Corporate insiders own 3.40% of the company's stock.

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.