BNP Paribas Financial Markets Sells 8,582 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

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

Several other institutional investors and hedge funds have also recently modified their holdings of SYBT. Covestor Ltd lifted its position in shares of Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares during the period. Jones Financial Companies Lllp lifted its position in Stock Yards Bancorp by 1,077.5% during the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock valued at $34,000 after acquiring an additional 431 shares during the period. Principal Securities Inc. lifted its position in Stock Yards Bancorp by 115.6% during the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock valued at $35,000 after acquiring an additional 260 shares during the period. Kentucky Trust Co purchased a new position in Stock Yards Bancorp during the 4th quarter valued at about $44,000. Finally, Sterling Capital Management LLC lifted its position in Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after acquiring an additional 718 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Price Performance

Shares of SYBT stock traded down $0.24 during mid-day trading on Thursday, hitting $73.42. The company had a trading volume of 92,697 shares, compared to its average volume of 129,286. Stock Yards Bancorp, Inc. has a 52-week low of $45.01 and a 52-week high of $79.85. The stock's 50 day moving average price is $71.20 and its 200-day moving average price is $72.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $2.16 billion, a P/E ratio of 18.87 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released 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. The company had revenue of $93.63 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.88 earnings per share. Equities research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, June 16th. Stock Yards Bancorp's payout ratio is 29.95%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. 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 lifted their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen cut shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One equities research 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $77.25.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 1,581 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the transaction, the director now owns 82,070 shares in the company, valued at $6,073,180. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura L. Wells sold 1,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were 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. This trade represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $449,427 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

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.