Stock Yards Bank & Trust Co. reduced its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,035,913 shares of the bank's stock after selling 89,176 shares during the period. Stock Yards Bancorp comprises 2.5% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 9th largest position. Stock Yards Bank & Trust Co. owned about 3.52% of Stock Yards Bancorp worth $71,540,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Stock Yards Bancorp by 57.7% during the first quarter. SG Americas Securities LLC now owns 9,978 shares of the bank's stock worth $689,000 after buying an additional 3,649 shares during the last quarter. Chatham Capital Group Inc. boosted its stake in Stock Yards Bancorp by 2.5% during the first quarter. Chatham Capital Group Inc. now owns 45,335 shares of the bank's stock worth $3,131,000 after buying an additional 1,095 shares during the last quarter. GAMMA Investing LLC boosted 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Stock Yards Bancorp by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,885 shares of the bank's stock worth $2,928,000 after buying an additional 3,099 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Stock Yards Bancorp during the fourth quarter worth $329,000. 56.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Piper Sandler set a $81.00 price target on Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday, April 24th. Stephens upped their price target on 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. Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods decreased their target price on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $77.25.
Check Out Our Latest Stock Analysis on Stock Yards Bancorp
Insider Buying and Selling
In related news, EVP Michael Croce sold 4,100 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $77.06, for a total value of $315,946.00. Following the completion of the transaction, the executive vice president now directly owns 24,600 shares in the company, valued at approximately $1,895,676. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Laura L. Wells sold 4,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $78.00, for a total value of $312,000.00. Following the completion of the transaction, the director now owns 14,954 shares of the company's stock, valued at $1,166,412. The trade was a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,100 shares of company stock worth $1,077,373 in the last quarter. 3.40% of the stock is owned by insiders.
Stock Yards Bancorp Trading Up 0.0%
SYBT traded up $0.03 during mid-day trading on Monday, hitting $74.44. 36,877 shares of the stock were exchanged, compared to its average volume of 131,497. The firm's fifty day moving average is $72.88 and its two-hundred day moving average is $72.51. Stock Yards Bancorp, Inc. has a 1-year low of $46.59 and a 1-year high of $79.85. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The company has a market cap of $2.19 billion, a PE ratio of 19.13 and a beta of 0.72.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The company had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. During the same quarter in the prior year, the business earned $0.88 EPS. Equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.
Stock Yards Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 1.67%. Stock Yards Bancorp's payout ratio is currently 29.95%.
Stock Yards Bancorp Profile
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Free Report)
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.
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