Victory Capital Management Inc. Has $93.79 Million Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Victory Capital Management Inc. lifted its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 26.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358,138 shares of the bank's stock after purchasing an additional 283,532 shares during the period. Victory Capital Management Inc. owned about 4.61% of Stock Yards Bancorp worth $93,793,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its position in Stock Yards Bancorp by 4.0% during the first quarter. Arizona State Retirement System now owns 8,413 shares of the bank's stock worth $581,000 after acquiring an additional 326 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Stock Yards Bancorp during the first quarter worth approximately $359,000. Bank of New York Mellon Corp boosted its position in Stock Yards Bancorp by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 129,010 shares of the bank's stock worth $8,909,000 after acquiring an additional 2,030 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Stock Yards Bancorp during the first quarter worth approximately $296,000. Finally, Sippican Capital Advisors boosted its position in Stock Yards Bancorp by 0.8% during the first quarter. Sippican Capital Advisors now owns 17,984 shares of the bank's stock worth $1,242,000 after acquiring an additional 140 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Up 0.7%

NASDAQ:SYBT traded up $0.57 during trading hours on Monday, hitting $79.71. 84,253 shares of the stock traded hands, compared to its average volume of 134,153. The firm has a 50 day moving average price of $76.78 and a 200 day moving average price of $73.14. 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, Inc. has a fifty-two week low of $53.21 and a fifty-two week high of $83.67. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 19.12 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.00 by $0.13. The company 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 23.34% and a return on equity of 13.02%. During the same quarter in the prior year, the business posted $0.88 EPS. Equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

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. This represents a $1.24 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, June 16th. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 29.95%.

Analyst Ratings Changes

SYBT has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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 on the stock in a report on Thursday, April 24th. Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Stephens lifted 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 report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $77.25.

Insider Activity at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 4,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total transaction of $312,000.00. Following the completion of the sale, the director owned 14,954 shares in the company, valued at $1,166,412. The trade was a 21.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $74.00, for a total transaction of $116,994.00. Following the transaction, the director directly owned 82,070 shares in the company, valued at $6,073,180. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,902 shares of company stock valued at $1,296,210 in the last quarter. Company insiders own 3.40% of the company's stock.

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.