Teacher Retirement System of Texas Buys Shares of 4,286 Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Teacher Retirement System of Texas acquired a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,286 shares of the bank's stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its holdings in shares of Stock Yards Bancorp by 164.5% in the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Stock Yards Bancorp by 806.7% in 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 during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 acquiring an additional 234 shares during the last quarter. KBC Group NV purchased a new stake in Stock Yards Bancorp in the 1st quarter worth about $114,000. Finally, Summit Investment Advisors Inc. increased its holdings in Stock Yards Bancorp by 6.8% in 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 during the last quarter. Institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Stock Performance

Shares of SYBT traded down $1.77 during midday trading on Tuesday, reaching $77.94. 194,022 shares of the stock were exchanged, compared to its average volume of 134,487. The business's 50-day moving average price is $76.84 and its 200 day moving average price is $73.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.94 and a quick ratio of 0.94. Stock Yards Bancorp, Inc. has a twelve month low of $53.21 and a twelve month high of $83.67. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 18.83 and a beta of 0.72.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. During the same period last year, the firm earned $0.88 EPS. On average, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, EVP William Dishman sold 2,802 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total transaction of $218,836.20. Following the completion of the sale, the executive vice president directly owned 31,594 shares in the company, valued at approximately $2,467,491.40. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David P. Heintzman sold 3,419 shares of the firm'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 transaction of $255,433.49. Following the sale, the director owned 83,651 shares of the company's stock, valued at $6,249,566.21. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,902 shares of company stock worth $1,296,210. Company insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced 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. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Stephens boosted their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, Stock Yards Bancorp presently has an average rating of "Hold" and an average target price of $77.25.

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.