Vanguard Group Inc. Has $130.39 Million Holdings in Stock Yards Bancorp, Inc. $SYBT

Key Points

• Vanguard Group Inc. increased its stake in Stock Yards Bancorp by 1.3%, now holding approximately 1,888,056 shares valued at $130.39 million, representing 6.41% of the company.
• Stock Yards Bancorp has recently announced a quarterly dividend increase to $0.32 per share, up from the previous $0.31, with a dividend yield of 1.7%.
• Stock Yards Bancorp reported earnings per share of $1.15 for the last quarter, exceeding analysts' expectations of $1.05, and posted revenue of $97.91 million.

Vanguard Group Inc. boosted its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,888,056 shares of the bank's stock after purchasing an additional 24,564 shares during the quarter. Vanguard Group Inc. owned about 6.41% of Stock Yards Bancorp worth $130,389,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of Stock Yards Bancorp by 806.7% during the fourth quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock worth $58,000 after buying an additional 718 shares during the last quarter. Tower Research Capital LLC TRC grew its stake 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 worth $110,000 after acquiring an additional 234 shares during the last quarter. KBC Group NV bought a new position in Stock Yards Bancorp during the first quarter worth $114,000. Aquatic Capital Management LLC increased its position in Stock Yards Bancorp by 53.4% during the fourth quarter. Aquatic Capital Management LLC now owns 2,762 shares of the bank's stock worth $198,000 after acquiring an additional 962 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new position in Stock Yards Bancorp during the 1st quarter valued at $223,000. 56.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYBT has been the topic of several research analyst reports. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods lifted their target price on Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Stock Yards Bancorp has a consensus rating of "Hold" and an average target price of $79.75.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT traded up $4.50 during trading hours on Friday, reaching $81.55. The company had a trading volume of 164,868 shares, compared to its average volume of 95,317. The firm has a market capitalization of $2.40 billion, a PE ratio of 18.75 and a beta of 0.74. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $77.35 and a two-hundred day moving average of $73.78. Stock Yards Bancorp, Inc. has a one year low of $56.35 and a one year high of $83.67.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly 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. The firm had revenue of $97.91 million for the quarter, compared to analyst estimates of $95.32 million. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. Analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Michael Croce sold 4,100 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total transaction of $315,946.00. Following the sale, the executive vice president directly owned 24,600 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, 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 of the company's stock, valued at approximately $2,467,491.40. This represents a 8.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,902 shares of company stock valued at $846,782 in the last 90 days. 3.40% of the stock is currently owned by insiders.

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.