Cox Capital Mgt LLC Decreases Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Cox Capital Mgt LLC cut its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Get Rating) by 51.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,921 shares of the bank’s stock after selling 16,070 shares during the quarter. Cox Capital Mgt LLC’s holdings in Stock Yards Bancorp were worth $970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sigma Planning Corp raised its stake in Stock Yards Bancorp by 2.9% in the third quarter. Sigma Planning Corp now owns 5,363 shares of the bank’s stock valued at $365,000 after buying an additional 150 shares during the last quarter. BNP Paribas Arbitrage SNC raised its stake in Stock Yards Bancorp by 2.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 6,542 shares of the bank’s stock valued at $445,000 after buying an additional 156 shares during the last quarter. ARGI Investment Services LLC raised its stake in Stock Yards Bancorp by 1.7% in the third quarter. ARGI Investment Services LLC now owns 12,130 shares of the bank’s stock valued at $825,000 after buying an additional 205 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Stock Yards Bancorp by 5.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,525 shares of the bank’s stock valued at $308,000 after buying an additional 236 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in Stock Yards Bancorp by 1.7% in the first quarter. Guggenheim Capital LLC now owns 14,835 shares of the bank’s stock valued at $785,000 after buying an additional 247 shares during the last quarter. 51.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYBT has been the subject of a number of research analyst reports. Piper Sandler cut Stock Yards Bancorp from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $75.00 to $73.00 in a research note on Wednesday, December 14th. StockNews.com started coverage on Stock Yards Bancorp in a report on Thursday. They issued a “sell” rating on the stock.

Insider Activity

In related news, Director Shannon Bishop Arvin bought 830 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were purchased at an average cost of $59.91 per share, with a total value of $49,725.30. Following the completion of the acquisition, the director now directly owns 2,802 shares in the company, valued at $167,867.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Schutte bought 750 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $51.50 per share, with a total value of $38,625.00. Following the completion of the acquisition, the director now directly owns 81,725 shares in the company, valued at $4,208,837.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shannon Bishop Arvin bought 830 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average cost of $59.91 per share, for a total transaction of $49,725.30. Following the completion of the acquisition, the director now owns 2,802 shares of the company’s stock, valued at $167,867.82. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,830 shares of company stock valued at $158,205. Company insiders own 4.20% of the company’s stock.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock traded down $2.05 during mid-day trading on Friday, reaching $52.28. The stock had a trading volume of 903,355 shares, compared to its average volume of 94,961. The business’s fifty day moving average is $59.09 and its 200-day moving average is $66.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 16.44 and a beta of 0.69. Stock Yards Bancorp, Inc. has a 1-year low of $49.54 and a 1-year high of $78.71.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, March 17th. Stock Yards Bancorp’s dividend payout ratio is presently 36.48%.

About Stock Yards Bancorp

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Stock Yards Bancorp, Inc is a holding company, which engages in the provision of commercial and personal banking services. It operates through the following segments: Commercial Banking and Wealth Management and Trust. The Commercial Banking segment includes mortgage banking and investment products sales activity.