Vanguard Group Inc. Decreases Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Vanguard Group Inc. trimmed its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,752,804 shares of the bank's stock after selling 34,963 shares during the quarter. Vanguard Group Inc. owned about 6.00% of Stock Yards Bancorp worth $68,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Stock Yards Bancorp by 1.1% in the 2nd quarter. BlackRock Inc. now owns 2,005,365 shares of the bank's stock valued at $90,983,000 after purchasing an additional 21,941 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in shares of Stock Yards Bancorp by 0.9% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 1,148,462 shares of the bank's stock valued at $63,326,000 after purchasing an additional 9,898 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Stock Yards Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 777,180 shares of the bank's stock valued at $42,852,000 after purchasing an additional 7,199 shares during the period. State Street Corp raised its stake in Stock Yards Bancorp by 22.4% during the 2nd quarter. State Street Corp now owns 763,115 shares of the bank's stock worth $34,798,000 after buying an additional 139,501 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Stock Yards Bancorp by 16.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,285 shares of the bank's stock worth $43,815,000 after buying an additional 93,822 shares during the period. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Down 1.4 %

SYBT traded down $0.66 during midday trading on Friday, reaching $46.16. 75,155 shares of the company were exchanged, compared to its average volume of 93,317. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The company's fifty day moving average price is $46.56 and its 200 day moving average price is $45.77. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 12.58 and a beta of 0.81. Stock Yards Bancorp, Inc. has a one year low of $36.93 and a one year high of $53.53.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.04). The company had revenue of $119.66 million for the quarter, compared to the consensus estimate of $82.60 million. Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. As a group, analysts expect that Stock Yards Bancorp, Inc. will post 3.37 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp's dividend payout ratio is currently 32.70%.

Wall Street Analysts Forecast Growth

SYBT has been the topic of a number of research reports. Hovde Group initiated coverage on Stock Yards Bancorp in a research note on Monday, March 4th. They set an "outperform" rating on the stock. Piper Sandler initiated coverage on Stock Yards Bancorp in a research note on Wednesday, March 6th. They set a "neutral" rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.00.

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.