Voloridge Investment Management LLC Takes Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Voloridge Investment Management LLC bought a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,595 shares of the bank's stock, valued at approximately $329,000.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd increased its position in shares of Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after purchasing an additional 232 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Stock Yards Bancorp by 1,077.5% in the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock valued at $34,000 after acquiring an additional 431 shares during the last quarter. Principal Securities Inc. grew its position in shares of Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock valued at $35,000 after acquiring an additional 260 shares during the period. Kentucky Trust Co acquired a new position in shares of Stock Yards Bancorp during the 4th quarter worth about $44,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after purchasing an additional 718 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock traded up $1.20 on Tuesday, hitting $74.09. The stock had a trading volume of 98,283 shares, compared to its average volume of 130,303. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 19.05 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a twelve month low of $45.01 and a twelve month high of $79.85. The business's 50 day moving average is $71.41 and its two-hundred day moving average is $72.52.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. The firm had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the prior year, the firm posted $0.88 EPS. Analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Monday, June 16th. Stock Yards Bancorp's dividend payout ratio is currently 29.95%.

Insider Activity

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,419 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $74.71, for a total transaction of $255,433.49. Following the completion of the transaction, the director now directly owns 83,651 shares in the company, valued at $6,249,566.21. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura L. Wells sold 1,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the sale, the director now directly owns 18,954 shares in the company, valued at approximately $1,459,458. This represents a 5.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,000 shares of company stock worth $449,427. Corporate insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

SYBT has been the subject of a number of research analyst reports. Wall Street Zen cut Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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. Stephens increased their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their price target on 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 investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.