Kayne Anderson Rudnick Investment Management LLC Has $88.29 Million Stock Position in Stock Yards Bancorp, Inc. $SYBT

Key Points

• Kayne Anderson Rudnick Investment Management LLC has increased its holdings in Stock Yards Bancorp by 4.9%, now owning over 1.27 million shares worth approximately $88.29 million.
• Stock Yards Bancorp recently increased its quarterly dividend from $0.31 to $0.32 per share, with a dividend yield of 1.6%.
• In its latest earnings report, Stock Yards Bancorp beat analysts' expectations with an EPS of $1.15 compared to estimates of $1.05, and reported a revenue of $97.91 million.

Kayne Anderson Rudnick Investment Management LLC grew its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,278,442 shares of the bank's stock after acquiring an additional 60,183 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.34% of Stock Yards Bancorp worth $88,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Stock Yards Bancorp by 18.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock valued at $110,000 after acquiring an additional 234 shares during the period. KBC Group NV bought a new stake in shares of Stock Yards Bancorp in the first quarter valued at approximately $114,000. Aquatic Capital Management LLC boosted its position in shares of Stock Yards Bancorp by 53.4% in the fourth quarter. Aquatic Capital Management LLC now owns 2,762 shares of the bank's stock valued at $198,000 after acquiring an additional 962 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of Stock Yards Bancorp in the first quarter valued at approximately $223,000. Finally, Quantbot Technologies LP boosted its position in shares of Stock Yards Bancorp by 132.8% in the first quarter. Quantbot Technologies LP now owns 4,070 shares of the bank's stock valued at $281,000 after acquiring an additional 2,322 shares during the period. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT traded down $0.87 during trading hours on Friday, reaching $80.71. The stock had a trading volume of 71,875 shares, compared to its average volume of 99,269. The business's fifty day moving average is $78.13 and its two-hundred day moving average is $73.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 18.55 and a beta of 0.74. Stock Yards Bancorp, Inc. has a twelve month low of $56.35 and a twelve month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The business had revenue of $97.91 million during the quarter, compared to analyst estimates of $95.32 million. As a group, research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.32 per share. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, September 15th. Stock Yards Bancorp's dividend payout ratio is currently 28.51%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, August 23rd. Piper Sandler increased their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upped their target price on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $79.75.

Insider Buying and Selling

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total transaction of $180,137.84. Following the completion of the transaction, the chief executive officer directly owned 107,292 shares in the company, valued at $8,939,569.44. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura L. Wells sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total value of $312,000.00. Following the sale, the director owned 14,954 shares in the company, valued at approximately $1,166,412. This trade represents a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,064 shares of company stock valued at $1,026,920. 3.40% of the stock is owned by insiders.

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.