Credit Suisse AG Sells 2,579 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)
Credit Suisse AG decreased its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,584 shares of the bank’s stock after selling 2,579 shares during the period. Credit Suisse AG’s holdings in Stock Yards Bancorp were worth $1,609,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in shares of Stock Yards Bancorp during the first quarter worth approximately $159,000. SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp during the first quarter worth approximately $194,000. Schroder Investment Management Group boosted its stake in shares of Stock Yards Bancorp by 32.7% in the first quarter. Schroder Investment Management Group now owns 5,386 shares of the bank’s stock worth $222,000 after buying an additional 1,327 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Stock Yards Bancorp by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,502 shares of the bank’s stock valued at $224,000 after buying an additional 15 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in Stock Yards Bancorp during the first quarter valued at about $228,000. Institutional investors own 48.62% of the company’s stock.
Stock Yards Bancorp, Inc. (NASDAQ SYBT) traded down 1.57% during mid-day trading on Friday, reaching $34.50. 72,012 shares of the company’s stock traded hands. The stock has a 50 day moving average of $37.15 and a 200 day moving average of $40.06. Stock Yards Bancorp, Inc. has a 12-month low of $29.22 and a 12-month high of $48.05. The company has a market cap of $781.74 million, a P/E ratio of 18.75 and a beta of 0.66.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 26th. The bank reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by $0.02. Stock Yards Bancorp had a return on equity of 13.36% and a net margin of 28.11%. The company had revenue of $36.91 million during the quarter, compared to analysts’ expectations of $37.06 million. On average, equities research analysts predict that Stock Yards Bancorp, Inc. will post $1.90 earnings per share for the current fiscal year.
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Several analysts have issued reports on SYBT shares. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 15th. BidaskClub cut shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Hilliard Lyons upgraded shares of Stock Yards Bancorp from an “underperform” rating to a “neutral” rating and set a $38.00 target price on the stock in a research note on Thursday, May 25th.
In other news, CEO David P. Heintzman sold 1,357 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $36.85, for a total value of $50,005.45. Following the transaction, the chief executive officer now owns 169,309 shares of the company’s stock, valued at $6,239,036.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David P. Heintzman sold 2,541 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $39.35, for a total transaction of $99,988.35. Following the completion of the transaction, the chief executive officer now directly owns 169,309 shares in the company, valued at approximately $6,662,309.15. The disclosure for this sale can be found here. In the last three months, insiders bought 244 shares of company stock worth $9,042 and sold 8,528 shares worth $322,490. 6.20% of the stock is currently owned by insiders.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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