GAMMA Investing LLC grew its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 7,142.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,306 shares of the bank's stock after buying an additional 21,998 shares during the period. GAMMA Investing LLC owned 0.08% of Stock Yards Bancorp worth $1,540,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of SYBT. Victory Capital Management Inc. increased its position in Stock Yards Bancorp by 120.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock worth $76,953,000 after purchasing an additional 586,550 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Stock Yards Bancorp by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank's stock worth $69,133,000 after purchasing an additional 24,011 shares during the last quarter. American Century Companies Inc. increased its position in Stock Yards Bancorp by 2.1% during the fourth quarter. American Century Companies Inc. now owns 277,561 shares of the bank's stock worth $19,876,000 after purchasing an additional 5,661 shares during the last quarter. Northern Trust Corp increased its position in Stock Yards Bancorp by 13.0% during the fourth 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 last quarter. Finally, Curi RMB Capital LLC increased its position in shares of Stock Yards Bancorp by 1.1% during the fourth quarter. Curi RMB Capital LLC now owns 253,020 shares of the bank's stock valued at $18,119,000 after acquiring an additional 2,651 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have weighed in on SYBT shares. Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a research report on Thursday, April 24th. Stephens raised their price objective on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $77.25.
Check Out Our Latest Report on SYBT
Stock Yards Bancorp Stock Performance
NASDAQ:SYBT opened at $74.72 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a fifty-two week low of $46.59 and a fifty-two week high of $79.85. The stock has a market cap of $2.20 billion, a PE ratio of 19.21 and a beta of 0.72. The firm's fifty day simple moving average is $72.88 and its 200-day simple moving average is $72.54.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.00 by $0.13. The business had revenue of $93.63 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.88 EPS. Analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.
Stock Yards Bancorp Dividend Announcement
The business also recently disclosed 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 is Monday, June 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.66%. Stock Yards Bancorp's payout ratio is currently 29.95%.
Insider Buying and Selling
In other Stock Yards Bancorp news, EVP Michael Croce sold 4,100 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total value of $315,946.00. Following the sale, the executive vice president now directly owns 24,600 shares in the company, valued at approximately $1,895,676. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Laura L. Wells sold 4,000 shares of the firm'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 completion of the sale, the director now owns 14,954 shares in the company, valued at $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. In the last quarter, insiders sold 14,100 shares of company stock valued at $1,077,373. 3.40% of the stock is currently owned by corporate insiders.
About Stock Yards Bancorp
(
Free Report)
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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