Stephens Inc. AR Sells 3,457 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of SYBT. Norges Bank purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter worth approximately $5,761,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter worth approximately $4,891,000. Clark Capital Management Group Inc. purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter worth approximately $4,106,000. Aptus Capital Advisors LLC raised its holdings in shares of Stock Yards Bancorp by 38.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 131,070 shares of the bank's stock worth $9,386,000 after buying an additional 36,114 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Stock Yards Bancorp by 13.0% in the fourth quarter. Northern Trust Corp now owns 274,295 shares of the bank's stock worth $19,642,000 after buying an additional 31,529 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Trading Up 0.8%

Shares of NASDAQ:SYBT opened at $79.14 on Monday. Stock Yards Bancorp, Inc. has a 12-month low of $53.21 and a 12-month high of $83.67. The business's fifty day simple moving average is $76.78 and its 200-day simple moving average is $73.14. The company has a market capitalization of $2.33 billion, a PE ratio of 19.12 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.34.

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

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.57%. Stock Yards Bancorp's dividend payout ratio is presently 29.95%.

Insider Buying and Selling

In other Stock Yards Bancorp news, EVP William Dishman sold 2,802 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total transaction of $218,836.20. Following the sale, the executive vice president owned 31,594 shares in the company, valued at approximately $2,467,491.40. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Croce sold 4,100 shares of the business's 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 completion of the transaction, the executive vice president directly owned 24,600 shares of the company's stock, valued at approximately $1,895,676. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,902 shares of company stock valued at $1,296,210. 3.40% of the stock is owned by insiders.

Analyst Ratings Changes

SYBT has been the topic of several recent analyst reports. Stephens increased their price target 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. Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price objective on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average 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.

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