Jupiter Topco LLC Invests $947,000 in Stock Yards Bancorp, Inc. $SYBT

Jupiter Topco LLC acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 12,376 shares of the bank’s stock, valued at approximately $947,000.

A number of other large investors have also made changes to their positions in the stock. Quarry LP purchased a new stake in Stock Yards Bancorp during the 3rd quarter worth about $28,000. Global Retirement Partners LLC acquired a new position in Stock Yards Bancorp in the 2nd quarter valued at about $31,000. Brown Brothers Harriman & Co. purchased a new position in Stock Yards Bancorp in the 3rd quarter valued at about $45,000. Empowered Funds LLC purchased a new position in Stock Yards Bancorp in the 4th quarter valued at about $60,000. Finally, Allworth Financial LP acquired a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth about $73,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Insider Transactions at Stock Yards Bancorp

In related news, Director Laura Wells sold 6,823 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the transaction, the director owned 9,580 shares of the company’s stock, valued at approximately $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYBT. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings raised shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Stephens set a $87.00 target price on shares of Stock Yards Bancorp and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Raymond James Financial started coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. Finally, Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $82.00 to $90.00 in a report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.00.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $79.49 on Friday. The business’s 50-day moving average price is $81.05 and its 200 day moving average price is $73.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp, Inc. has a twelve month low of $61.51 and a twelve month high of $89.21. The company has a market capitalization of $2.47 billion, a PE ratio of 15.83 and a beta of 0.66.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%.The company had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $111.66 million. On average, research analysts predict that Stock Yards Bancorp, Inc. will post 5.16 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be issued a $0.33 dividend. The ex-dividend date is Monday, September 21st. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Stock Yards Bancorp’s payout ratio is presently 26.29%.

About Stock Yards Bancorp

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.