Stock Yards Bancorp, Inc. $SYBT is Stock Yards Bank & Trust Co.’s 7th Largest Position

Stock Yards Bank & Trust Co. lessened its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,318,644 shares of the bank’s stock after selling 19,733 shares during the quarter. Stock Yards Bancorp makes up about 2.7% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 7th biggest position. Stock Yards Bank & Trust Co. owned approximately 4.47% of Stock Yards Bancorp worth $87,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SYBT. AQR Capital Management LLC lifted its stake in shares of Stock Yards Bancorp by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock worth $493,000 after purchasing an additional 2,297 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Stock Yards Bancorp by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 658 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Stock Yards Bancorp by 28.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after purchasing an additional 11,758 shares during the last quarter. Jane Street Group LLC bought a new position in Stock Yards Bancorp in the first quarter worth about $3,400,000. Finally, Cetera Investment Advisers bought a new position in Stock Yards Bancorp in the second quarter worth about $365,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SYBT. Piper Sandler reissued a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Friday, March 6th. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.75.

Stock Yards Bancorp Trading Up 2.4%

Stock Yards Bancorp stock opened at $78.27 on Thursday. The stock has a 50-day moving average of $72.39 and a two-hundred day moving average of $69.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. Stock Yards Bancorp, Inc. has a one year low of $61.51 and a one year high of $83.83. The stock has a market cap of $2.31 billion, a PE ratio of 16.10 and a beta of 0.68.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The business had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. On average, research analysts anticipate that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.34%.

Insider Buying and Selling

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the sale, the president owned 53,376 shares of the company’s stock, valued at approximately $3,772,615.68. The trade was a 2.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by company insiders.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.