Curi RMB Capital LLC Increases Stake in Stock Yards Bancorp, Inc. $SYBT

Key Points

• Curi RMB Capital LLC increased its stake in Stock Yards Bancorp by 1.5% during the 1st quarter, owning 256,715 shares valued at approximately $17.78 million.
• Stock Yards Bancorp recently announced a dividend increase from $0.31 to $0.32, reflecting an annualized payout of $1.28 and a dividend yield of 1.6%.
• Analysts have mixed views on Stock Yards Bancorp, with Piper Sandler raising their price target to $86.00 while Wall Street Zen downgraded the stock from "hold" to "sell."

Curi RMB Capital LLC grew its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,715 shares of the bank's stock after purchasing an additional 3,695 shares during the quarter. Curi RMB Capital LLC owned approximately 0.87% of Stock Yards Bancorp worth $17,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sippican Capital Advisors increased its holdings in Stock Yards Bancorp by 0.8% in the 1st quarter. Sippican Capital Advisors now owns 17,984 shares of the bank's stock worth $1,242,000 after acquiring an additional 140 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Stock Yards Bancorp by 18.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock worth $110,000 after purchasing an additional 234 shares during the period. Arizona State Retirement System boosted its stake in Stock Yards Bancorp by 4.0% in the 1st quarter. Arizona State Retirement System now owns 8,413 shares of the bank's stock worth $581,000 after purchasing an additional 326 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Stock Yards Bancorp by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,567 shares of the bank's stock worth $1,043,000 after purchasing an additional 499 shares during the period. Finally, Meridian Wealth Management LLC boosted its stake in Stock Yards Bancorp by 0.6% in the 1st quarter. Meridian Wealth Management LLC now owns 144,054 shares of the bank's stock worth $9,948,000 after purchasing an additional 844 shares during the period. Hedge funds and other institutional investors own 56.46% of the company's stock.

Insiders Place Their Bets

In other news, Director Laura L. Wells sold 4,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total value of $312,000.00. Following the completion of the transaction, the director directly owned 14,954 shares in the company, valued at $1,166,412. This trade represents a 21.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William Dishman sold 2,802 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total value of $218,836.20. Following the completion of the transaction, the executive vice president owned 31,594 shares of the company's stock, valued at approximately $2,467,491.40. The trade was a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,964 shares of company stock valued at $710,974. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Stock Yards Bancorp Stock Down 1.7%

SYBT stock traded down $1.32 during trading on Tuesday, reaching $78.05. 33,888 shares of the company traded hands, compared to its average volume of 120,097. Stock Yards Bancorp, Inc. has a 12 month low of $56.35 and a 12 month high of $83.83. The business has a 50 day simple moving average of $78.36 and a 200 day simple moving average of $74.18. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 17.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The company had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.32 dividend. This is a boost 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 of this dividend is Monday, September 15th. Stock Yards Bancorp's dividend payout ratio is 28.51%.

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.