Harvey Investment Co. LLC increased its position in shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) by 37.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,502 shares of the company’s stock after buying an additional 17,600 shares during the period. Harvey Investment Co. LLC’s holdings in Stock Yards Bancorp were worth $1,821,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aperio Group LLC bought a new position in Stock Yards Bancorp during the first quarter worth approximately $261,000. BlackRock Institutional Trust Company N.A. increased its position in Stock Yards Bancorp by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 488,331 shares of the company’s stock worth $18,815,000 after buying an additional 6,538 shares during the period. Champlain Investment Partners LLC increased its position in Stock Yards Bancorp by 0.5% in the first quarter. Champlain Investment Partners LLC now owns 532,785 shares of the company’s stock worth $20,528,000 after buying an additional 2,860 shares during the period. Renaissance Technologies LLC increased its position in Stock Yards Bancorp by 53.2% in the first quarter. Renaissance Technologies LLC now owns 35,700 shares of the company’s stock worth $1,376,000 after buying an additional 12,400 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in Stock Yards Bancorp by 3.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,575 shares of the company’s stock worth $407,000 after buying an additional 325 shares during the period. 42.46% of the stock is owned by institutional investors and hedge funds.
Stock Yards Bancorp Inc. (NASDAQ:SYBT) traded up 1.66% on Wednesday, reaching $33.73. The company’s stock had a trading volume of 35,003 shares. The firm has a market cap of $759.36 million, a PE ratio of 19.69 and a beta of 0.69. The stock’s 50 day moving average price is $31.72 and its 200 day moving average price is $28.67. Stock Yards Bancorp Inc. has a 52-week low of $22.67 and a 52-week high of $33.97.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. Stock Yards Bancorp had a return on equity of 13.30% and a net margin of 28.15%. Equities research analysts expect that Stock Yards Bancorp Inc. will post $1.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 8th. This represents a $0.72 annualized dividend and a yield of 2.17%. Stock Yards Bancorp’s payout ratio is 41.78%.
Separately, Zacks Investment Research upgraded Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, June 29th.
In related news, insider Kathy C. Thompson sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $31.86, for a total transaction of $175,230.00. Following the transaction, the insider now directly owns 42,639 shares in the company, valued at approximately $1,358,478.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas C. Stinnett sold 3,358 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $29.65, for a total value of $99,564.70. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.
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