Wells Fargo & Company MN Purchases 4,368 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Wells Fargo & Company MN raised its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,890 shares of the bank's stock after acquiring an additional 4,368 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Stock Yards Bancorp worth $1,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in Stock Yards Bancorp by 120.2% in the fourth 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 period. American Century Companies Inc. increased its stake in shares of Stock Yards Bancorp by 2.1% in the 4th quarter. American Century Companies Inc. now owns 277,561 shares of the bank's stock worth $19,876,000 after acquiring an additional 5,661 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Stock Yards Bancorp by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 222,632 shares of the bank's stock valued at $15,943,000 after acquiring an additional 3,605 shares during the period. Norges Bank purchased a new stake in Stock Yards Bancorp in the fourth quarter worth about $5,761,000. Finally, Swiss National Bank increased its stake in shares of Stock Yards Bancorp by 0.7% during the fourth quarter. Swiss National Bank now owns 54,923 shares of the bank's stock valued at $3,933,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company's stock.

Insider Transactions at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 3,419 shares of Stock Yards Bancorp stock in a transaction on Friday, April 25th. The stock was sold at an average price of $74.71, for a total transaction of $255,433.49. Following the transaction, the director now directly owns 83,651 shares in the company, valued at approximately $6,249,566.21. The trade was a 3.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.40% of the company's stock.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ:SYBT traded up $1.08 during midday trading on Friday, reaching $74.41. 90,663 shares of the company's stock traded hands, compared to its average volume of 126,725. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 19.13 and a beta of 0.77. Stock Yards Bancorp, Inc. has a one year low of $44.36 and a one year high of $79.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50 day moving average of $69.16 and a 200 day moving average of $71.60.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $93.63 million for the quarter, compared to analysts' expectations of $92.90 million. During the same period last year, the firm posted $0.88 earnings per share. As a group, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.67%. Stock Yards Bancorp's payout ratio is presently 29.95%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stephens upped their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price target on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday, April 24th.

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.