Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,218,259 shares of the bank's stock after selling 16,046 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.14% of Stock Yards Bancorp worth $87,240,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Stock Yards Bancorp by 120.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock worth $76,953,000 after purchasing an additional 586,550 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Stock Yards Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank's stock valued at $69,133,000 after acquiring an additional 24,011 shares during the last quarter. Geode Capital Management LLC lifted its stake in Stock Yards Bancorp by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 636,744 shares of the bank's stock worth $39,480,000 after purchasing an additional 5,391 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Stock Yards Bancorp by 2.1% during the 4th quarter. American Century Companies Inc. now owns 277,561 shares of the bank's stock worth $19,876,000 after purchasing an additional 5,661 shares during the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of Stock Yards Bancorp by 1.1% in the fourth quarter. Curi RMB Capital LLC now owns 253,020 shares of the bank's stock valued at $18,119,000 after purchasing an additional 2,651 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on SYBT shares. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a "neutral" rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research report on Thursday. Finally, Stephens lifted their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday.
Check Out Our Latest Stock Analysis on Stock Yards Bancorp
Stock Yards Bancorp Trading Down 2.7 %
SYBT traded down $2.06 during mid-day trading on Friday, hitting $74.67. 187,741 shares of the stock were exchanged, compared to its average volume of 125,941. The company has a market cap of $2.20 billion, a PE ratio of 19.20 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm's fifty day moving average is $69.13 and its two-hundred day moving average is $71.19. Stock Yards Bancorp, Inc. has a 1-year low of $44.32 and a 1-year high of $79.79.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. The firm had revenue of $93.63 million during the quarter, compared to analysts' expectations of $92.90 million. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the previous year, the business posted $0.88 earnings per share. Equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.
Stock Yards Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.66%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.
About Stock Yards Bancorp
(
Free Report)
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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