Vanguard Group Inc. Buys 17,055 Shares of Stock Yards Bancorp, Inc. $SYBT

Vanguard Group Inc. boosted its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,945,817 shares of the bank’s stock after purchasing an additional 17,055 shares during the quarter. Vanguard Group Inc. owned about 6.60% of Stock Yards Bancorp worth $136,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Huntington National Bank grew its stake in Stock Yards Bancorp by 1,405.6% during the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after buying an additional 1,012 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Stock Yards Bancorp during the third quarter worth about $92,000. Archer Investment Corp bought a new stake in shares of Stock Yards Bancorp during the second quarter worth about $105,000. Sei Investments Co. acquired a new position in shares of Stock Yards Bancorp in the second quarter valued at approximately $207,000. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $216,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Analyst Ratings Changes

SYBT has been the topic of several recent research reports. Hovde Group lifted their target price on Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Piper Sandler reiterated a “neutral” rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. Zacks Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Down 0.1%

Shares of NASDAQ:SYBT opened at $64.57 on Wednesday. Stock Yards Bancorp, Inc. has a 12-month low of $60.75 and a 12-month high of $83.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 13.59 and a beta of 0.71. The business’s 50 day moving average is $67.68 and its 200 day moving average is $69.58.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The business had revenue of $104.47 million for the quarter, compared to analysts’ expectations of $102.42 million. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, March 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.95%.

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.