Invesco Ltd. Purchases 4,489 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Invesco Ltd. increased its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,360 shares of the bank's stock after purchasing an additional 4,489 shares during the period. Invesco Ltd. owned approximately 0.17% of Stock Yards Bancorp worth $3,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Baron Silver Stevens Financial Advisors LLC bought a new stake in Stock Yards Bancorp in the 4th quarter valued at $749,000. Barclays PLC raised its stake in shares of Stock Yards Bancorp by 137.8% in the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank's stock valued at $2,840,000 after purchasing an additional 26,537 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Stock Yards Bancorp by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank's stock worth $1,390,000 after buying an additional 1,360 shares during the period. Franklin Resources Inc. acquired a new position in shares of Stock Yards Bancorp during the fourth quarter worth about $1,193,000. Finally, SG Americas Securities LLC bought a new position in shares of Stock Yards Bancorp during the fourth quarter worth about $453,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SYBT shares. Keefe, Bruyette & Woods lowered their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock 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 report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price target on Stock Yards Bancorp and gave the stock a "neutral" rating in a research report on Thursday, April 24th.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT traded up $1.11 during trading hours on Friday, reaching $74.44. 6,174 shares of the company were exchanged, compared to its average volume of 125,812. The business has a 50 day moving average of $69.10 and a 200 day moving average of $71.50. Stock Yards Bancorp, Inc. has a 1-year low of $44.36 and a 1-year high of $79.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $2.19 billion, a P/E ratio of 19.16 and a beta of 0.77.

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 analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The company had revenue of $93.63 million for the quarter, compared to analysts' expectations of $92.90 million. During the same quarter last year, the business earned $0.88 earnings per share. Research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.67%. Stock Yards Bancorp's dividend payout ratio (DPR) is 29.95%.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $74.00, for a total value of $116,994.00. Following the transaction, the director now owns 82,070 shares in the company, valued at $6,073,180. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.40% of the stock is currently owned by insiders.

Stock Yards Bancorp Company 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.