Northern Trust Corp Grows Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Northern Trust Corp raised its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 274,295 shares of the bank's stock after acquiring an additional 31,529 shares during the period. Northern Trust Corp owned approximately 0.93% of Stock Yards Bancorp worth $19,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its stake in Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock valued at $27,000 after acquiring an additional 232 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Stock Yards Bancorp by 1,077.5% in the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock valued at $34,000 after purchasing an additional 431 shares during the period. Principal Securities Inc. lifted its stake 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 purchasing an additional 260 shares during the period. Kentucky Trust Co acquired a new position in shares of Stock Yards Bancorp in the 4th quarter valued at $44,000. Finally, Sterling Capital Management LLC lifted its stake 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David P. Heintzman sold 1,581 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the completion of the sale, the director now owns 82,070 shares of the company's stock, valued at $6,073,180. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SYBT shares. Keefe, Bruyette & Woods decreased their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Stephens boosted their target price on shares of 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. StockNews.com upgraded shares of Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Piper Sandler set a $81.00 target price on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $77.25.

Stock Yards Bancorp Price Performance

NASDAQ SYBT traded down $0.80 on Friday, hitting $76.29. The company had a trading volume of 109,650 shares, compared to its average volume of 128,320. The company has a market capitalization of $2.25 billion, a PE ratio of 19.61 and a beta of 0.73. The company's fifty day moving average price is $70.24 and its 200-day moving average price is $72.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. Stock Yards Bancorp, Inc. has a 12-month low of $44.36 and a 12-month high of $79.85.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.00 by $0.13. The company had revenue of $93.63 million during the quarter, compared to analyst estimates 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 firm earned $0.88 EPS. As a group, analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Monday, March 17th. Stock Yards Bancorp's payout ratio is presently 29.95%.

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.