First Trust Advisors LP increased its stake in Stock Yards Bancorp Inc. (NASDAQ:SYBT) by 54.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,137 shares of the company’s stock after buying an additional 7,850 shares during the period. First Trust Advisors LP owned 0.10% of Stock Yards Bancorp worth $625,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY raised its stake 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 valued at $407,000 after buying an additional 325 shares during the last quarter. Commonwealth Equity Services Inc raised its position in shares of Stock Yards Bancorp by 42.9% in the second quarter. Commonwealth Equity Services Inc now owns 7,561 shares of the company’s stock worth $213,000 after buying an additional 2,271 shares in the last quarter. American Research & Management Co. raised its position in shares of Stock Yards Bancorp by 138.9% in the second quarter. American Research & Management Co. now owns 4,300 shares of the company’s stock worth $121,000 after buying an additional 2,500 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of 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 in the last quarter. Finally, Societe Generale bought a new position in shares of Stock Yards Bancorp during the second quarter worth $104,000. 42.46% of the stock is currently owned by institutional investors.
Shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) traded up 0.871% on Monday, reaching $34.155. 8,123 shares of the company were exchanged. The company has a market capitalization of $768.93 million, a P/E ratio of 19.939 and a beta of 0.69. The stock has a 50 day moving average of $32.06 and a 200-day moving average of $28.80. Stock Yards Bancorp Inc. has a 52-week low of $22.67 and a 52-week high of $34.34.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Stock Yards Bancorp had a net margin of 28.15% and a return on equity of 13.30%. On average, analysts predict that Stock Yards Bancorp Inc. will post $1.77 EPS 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 $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 41.78%.
Separately, Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday, June 29th.
In other Stock Yards Bancorp news, VP Nancy B. Davis sold 5,390 shares of Stock Yards Bancorp stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $31.72, for a total value of $170,970.80. Following the transaction, the vice president now directly owns 103,734 shares in the company, valued at $3,290,442.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David P. Heintzman sold 5,000 shares of Stock Yards Bancorp stock in a transaction on Monday, August 1st. The shares were sold at an average price of $29.70, for a total transaction of $148,500.00. Following the completion of the transaction, the chief executive officer now owns 181,657 shares in the company, valued at $5,395,212.90. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by corporate insiders.
Stock Yards Bancorp Company Profile
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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