Victory Capital Management Inc. Acquires 283,532 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Victory Capital Management Inc. raised its stake 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 disclosure with the SEC. The firm owned 1,358,138 shares of the bank's stock after acquiring an additional 283,532 shares during the quarter. Victory Capital Management Inc. owned approximately 4.61% of Stock Yards Bancorp worth $93,793,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter worth about $114,000. GAMMA Investing LLC grew its stake in Stock Yards Bancorp by 7,142.2% during the first 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 last quarter. Northern Trust Corp increased its holdings in shares of 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 buying an additional 31,529 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Stock Yards Bancorp during the fourth quarter worth approximately $1,193,000. Finally, Deutsche Bank AG raised its stake in shares of Stock Yards Bancorp by 50.9% in the fourth quarter. Deutsche Bank AG now owns 23,872 shares of the bank's stock valued at $1,709,000 after acquiring an additional 8,048 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company's stock.

Stock Yards Bancorp Trading Up 0.8%

Shares of NASDAQ SYBT traded up $0.60 during midday trading on Friday, reaching $79.14. 100,180 shares of the stock were exchanged, compared to its average volume of 134,331. Stock Yards Bancorp, Inc. has a 12 month low of $53.21 and a 12 month high of $83.67. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.12 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. The business has a 50-day simple moving average of $76.78 and a two-hundred day simple moving average of $73.11.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping 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 company had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, equities research analysts expect 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 was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, June 16th. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 29.95%.

Insider Activity at Stock Yards Bancorp

In related news, EVP William Dishman sold 2,802 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total transaction of $218,836.20. Following the sale, the executive vice president directly owned 31,594 shares in the company, valued at $2,467,491.40. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the executive vice president owned 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 disclosure for this sale can be found here. Insiders have sold 16,902 shares of company stock worth $1,296,210 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on 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. Finally, Stephens raised 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 note on Thursday, April 24th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.