Kayne Anderson Rudnick Investment Management LLC Lowers Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,218,259 shares of the bank's stock after selling 16,046 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.14% of Stock Yards Bancorp worth $87,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC increased its position 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 buying an additional 26,537 shares during the period. SG Americas Securities LLC bought a new stake in Stock Yards Bancorp during the fourth quarter valued at approximately $453,000. Firethorn Wealth Partners LLC lifted its position in shares of Stock Yards Bancorp by 0.9% in the fourth quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank's stock valued at $1,048,000 after acquiring an additional 136 shares in the last quarter. Blue Trust Inc. raised its position in shares of Stock Yards Bancorp by 24.9% during the 4th quarter. Blue Trust Inc. now owns 5,011 shares of the bank's stock valued at $359,000 after buying an additional 1,000 shares in the last quarter. Finally, Sippican Capital Advisors lifted its stake in shares of Stock Yards Bancorp by 2.8% in the 4th quarter. Sippican Capital Advisors now owns 17,844 shares of the bank's stock valued at $1,278,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Stock Up 0.4%

Shares of NASDAQ:SYBT traded up $0.32 on Friday, reaching $73.74. The company had a trading volume of 45,194 shares, compared to its average volume of 128,970. Stock Yards Bancorp, Inc. has a twelve month low of $45.01 and a twelve month high of $79.85. The stock has a market capitalization of $2.17 billion, a P/E ratio of 18.96 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $71.20 and a 200 day moving average price of $72.56.

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, beating analysts' consensus estimates of $1.00 by $0.13. The firm 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 business earned $0.88 earnings per share. On average, equities analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stephens raised their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note 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. Wall Street Zen cut shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lowered 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. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $77.25.

Insider Activity at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 3,419 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $74.71, for a total value of $255,433.49. Following the transaction, the director now directly owns 83,651 shares of the company's stock, valued at approximately $6,249,566.21. The trade was a 3.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura L. Wells sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the transaction, the director now directly owns 18,954 shares in the company, valued at approximately $1,459,458. This 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 worth $449,427 over the last quarter. Company insiders own 3.40% of the company's stock.

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.