SG Americas Securities LLC Sells 6,931 Shares of Stock Yards Bancorp, Inc. $SYBT

SG Americas Securities LLC reduced its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 39.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,825 shares of the bank’s stock after selling 6,931 shares during the quarter. SG Americas Securities LLC’s holdings in Stock Yards Bancorp were worth $718,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter valued at $45,000. GAMMA Investing LLC grew its position in shares of Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after purchasing an additional 396 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Stock Yards Bancorp in the fourth quarter worth $60,000. Finally, Covestor Ltd increased its holdings in shares of Stock Yards Bancorp by 138.4% in the fourth quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock worth $76,000 after purchasing an additional 678 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SYBT. Piper Sandler reissued a “neutral” rating and set a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Stephens raised their price target on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods boosted their price objective on Stock Yards Bancorp from $80.00 to $81.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.75.

Stock Yards Bancorp Stock Up 0.1%

SYBT opened at $77.90 on Tuesday. The stock has a market cap of $2.30 billion, a PE ratio of 16.07 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp, Inc. has a 52 week low of $61.51 and a 52 week high of $83.83. The business’s fifty day simple moving average is $72.85 and its 200 day simple moving average is $69.29.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%.The firm had revenue of $102.63 million during the quarter, compared to analyst estimates of $108.18 million. As a group, research analysts expect that Stock Yards Bancorp, Inc. will post 5.1 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.34%.

Insider Activity at Stock Yards Bancorp

In other news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the sale, the president owned 53,376 shares of the company’s stock, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

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.