Teacher Retirement System of Texas Acquires New Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Teacher Retirement System of Texas acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,286 shares of the bank's stock, valued at approximately $296,000.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Stock Yards Bancorp by 164.5% in the fourth quarter. Covestor Ltd now owns 373 shares of the bank's stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock worth $58,000 after acquiring an additional 718 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Stock Yards Bancorp by 18.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock worth $110,000 after acquiring an additional 234 shares in the last quarter. KBC Group NV acquired a new position in Stock Yards Bancorp during the 1st quarter worth approximately $114,000. Finally, Summit Investment Advisors Inc. grew its holdings in Stock Yards Bancorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock worth $192,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company's stock.

Insider Buying and Selling at Stock Yards Bancorp

In related news, EVP Michael Croce sold 4,100 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total value of $315,946.00. Following the completion of the sale, the executive vice president owned 24,600 shares in the company, valued at $1,895,676. This represents a 14.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Heintzman sold 1,581 shares of the company'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 completion of the sale, the director owned 82,070 shares of the company's stock, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,902 shares of company stock worth $1,296,210 in the last 90 days. Company insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on SYBT. Stephens boosted their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" 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 report on Wednesday, May 21st. Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, 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 report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp currently has an average rating of "Hold" and a consensus target price of $77.25.

Stock Yards Bancorp Trading Up 0.8%

Shares of Stock Yards Bancorp stock opened at $79.14 on Friday. The company has a fifty day simple moving average of $76.78 and a 200-day simple moving average of $73.11. Stock Yards Bancorp, Inc. has a 12-month low of $53.21 and a 12-month high of $83.67. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 19.12 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 23.34% and a return on equity of 13.02%. The business had revenue of $93.63 million during the quarter, compared to analysts' expectations of $92.90 million. During the same quarter in the prior year, the business posted $0.88 EPS. On average, equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were given a $0.31 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.24 annualized dividend and a yield of 1.57%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.

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.

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