Tudor Investment Corp ET AL Grows Holdings in Stock Yards Bancorp, Inc. $SYBT

Tudor Investment Corp ET AL lifted its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 352.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 76,268 shares of the bank’s stock after acquiring an additional 59,413 shares during the quarter. Tudor Investment Corp ET AL owned 0.26% of Stock Yards Bancorp worth $5,338,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in Stock Yards Bancorp by 47.2% in the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock valued at $12,859,000 after purchasing an additional 58,942 shares during the period. Jane Street Group LLC acquired a new stake in shares of Stock Yards Bancorp in the first quarter valued at $3,400,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at $1,932,000. Marshall Wace LLP acquired a new position in Stock Yards Bancorp during the 2nd quarter worth about $2,065,000. Finally, Squarepoint Ops LLC boosted its holdings in Stock Yards Bancorp by 412.3% during the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock valued at $2,536,000 after acquiring an additional 25,845 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SYBT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Piper Sandler reaffirmed a “neutral” rating and set a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, March 6th. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Wall Street Zen lowered Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Stock Yards Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $64.22 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 debt-to-equity ratio of 0.30, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $1.90 billion, a PE ratio of 13.52 and a beta of 0.72. The business’s fifty day moving average price is $66.90 and its 200 day moving average price is $67.90.

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

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 yield of 2.0%. Stock Yards Bancorp’s payout ratio is presently 26.95%.

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.