Stock Yards Bank & Trust Co. Sells 23,864 Shares of Stock Yards Bancorp, Inc. $SYBT

Stock Yards Bank & Trust Co. reduced its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 971,902 shares of the bank’s stock after selling 23,864 shares during the quarter. Stock Yards Bancorp makes up about 2.1% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 13th largest position. Stock Yards Bank & Trust Co. owned about 3.30% of Stock Yards Bancorp worth $68,023,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SYBT. Envestnet Asset Management Inc. increased its position in shares of Stock Yards Bancorp by 1,496.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock valued at $9,216,000 after purchasing an additional 109,382 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Stock Yards Bancorp in the 1st quarter worth about $3,400,000. Marshall Wace LLP bought a new position in Stock Yards Bancorp during the second quarter valued at about $2,065,000. Squarepoint Ops LLC increased its holdings in Stock Yards Bancorp by 412.3% during the second quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock worth $2,536,000 after buying an additional 25,845 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Stock Yards Bancorp in the third quarter worth about $1,638,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Trading Down 1.0%

Shares of SYBT stock opened at $67.82 on Wednesday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 14.81 and a beta of 0.69. The company’s fifty day simple moving average is $66.87 and its two-hundred day simple moving average is $71.47. Stock Yards Bancorp, Inc. has a 1 year low of $60.75 and a 1 year high of $83.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. Stock Yards Bancorp had a return on equity of 13.65% and a net margin of 24.50%.The firm had revenue of $101.60 million during the quarter, compared to analyst estimates of $100.00 million. As a group, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.32 per share. The ex-dividend date was Monday, December 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio is currently 27.95%.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David L. Hardy purchased 2,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $66.53 per share, with a total value of $133,060.00. Following the completion of the acquisition, the director owned 2,000 shares in the company, valued at $133,060. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYBT has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.67.

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.