Glenview Trust Co Sells 8,192 Shares of Stock Yards Bancorp, Inc. $SYBT

Glenview Trust Co lessened its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,998 shares of the bank’s stock after selling 8,192 shares during the period. Glenview Trust Co owned about 0.18% of Stock Yards Bancorp worth $3,447,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Stock Yards Bancorp in the third quarter worth approximately $28,000. Brown Brothers Harriman & Co. purchased a new position in Stock Yards Bancorp during the 3rd quarter valued at $45,000. GAMMA Investing LLC boosted its holdings in Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after acquiring an additional 396 shares during the period. Empowered Funds LLC bought a new position in Stock Yards Bancorp in the 4th quarter valued at $60,000. Finally, Covestor Ltd grew its position in Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after acquiring an additional 678 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYBT. Keefe, Bruyette & Woods lifted their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Raymond James Financial began coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Finally, Stephens lifted their price objective on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $76.75.

Stock Yards Bancorp Trading Up 0.7%

SYBT opened at $81.34 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $74.31 and its two-hundred day moving average is $70.17. The company has a market capitalization of $2.40 billion, a P/E ratio of 16.74 and a beta of 0.68. Stock Yards Bancorp, Inc. has a 52 week low of $61.51 and a 52 week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its 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 analysts’ expectations of $108.18 million. Analysts forecast that Stock Yards Bancorp, Inc. will post 5 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed 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 of this dividend 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 is 26.34%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the transaction, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. This represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Stock Yards Bancorp 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.