BNP Paribas Financial Markets Decreases Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

BNP Paribas Financial Markets lowered its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 66.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,301 shares of the bank's stock after selling 8,582 shares during the quarter. BNP Paribas Financial Markets' holdings in Stock Yards Bancorp were worth $308,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SYBT. Barclays PLC increased its holdings in shares of Stock Yards Bancorp by 137.8% during the third quarter. Barclays PLC now owns 45,801 shares of the bank's stock valued at $2,840,000 after acquiring an additional 26,537 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Stock Yards Bancorp during the fourth quarter valued at about $453,000. Blue Trust Inc. increased its holdings in shares of Stock Yards Bancorp by 24.9% during the fourth quarter. Blue Trust Inc. now owns 5,011 shares of the bank's stock valued at $359,000 after acquiring an additional 1,000 shares in the last quarter. Sippican Capital Advisors increased its holdings in shares of Stock Yards Bancorp by 2.8% during the fourth quarter. Sippican Capital Advisors now owns 17,844 shares of the bank's stock valued at $1,278,000 after acquiring an additional 490 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of Stock Yards Bancorp during the fourth quarter valued at about $824,000. Institutional investors and hedge funds own 56.46% of the company's stock.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT traded up $0.24 during midday trading on Friday, reaching $73.66. 173,867 shares of the stock were exchanged, compared to its average volume of 130,039. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 18.94 and a beta of 0.73. Stock Yards Bancorp, Inc. has a twelve month low of $45.01 and a twelve month high of $79.85. The firm has a 50-day simple moving average of $71.27 and a two-hundred day simple moving average of $72.52. 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 (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.13. The business had revenue of $93.63 million for the quarter, compared to analysts' expectations 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 quarter last year, the company earned $0.88 EPS. As a group, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.68%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Stephens increased their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut their price target 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 price target on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $77.25.

Insider Activity

In other news, Director Laura L. Wells sold 1,000 shares of Stock Yards Bancorp stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the transaction, the director now owns 18,954 shares in the company, valued at $1,459,458. The trade was a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction on Monday, April 28th. The stock was sold at an average price of $74.00, for a total value of $116,994.00. Following the transaction, the director now owns 82,070 shares in the company, valued at approximately $6,073,180. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,000 shares of company stock worth $449,427 in the last quarter. 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.