Vanguard Group Inc. Purchases 17,055 Shares of Stock Yards Bancorp, Inc. $SYBT

Vanguard Group Inc. increased its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,945,817 shares of the bank’s stock after acquiring an additional 17,055 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Stock Yards Bancorp worth $136,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYBT. Envestnet Asset Management Inc. boosted its position in Stock Yards Bancorp by 1,496.7% during the second quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock worth $9,216,000 after purchasing an additional 109,382 shares during the period. Jane Street Group LLC purchased a new stake in shares of Stock Yards Bancorp during the 1st quarter valued at approximately $3,400,000. State of New Jersey Common Pension Fund D bought a new position in Stock Yards Bancorp in the 3rd quarter worth approximately $1,932,000. Marshall Wace LLP purchased a new position in Stock Yards Bancorp in the 2nd quarter valued at approximately $2,065,000. Finally, Squarepoint Ops LLC grew its stake in Stock Yards Bancorp by 412.3% in the 2nd quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock valued at $2,536,000 after buying an additional 25,845 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Price Performance

SYBT stock opened at $64.57 on Wednesday. The firm’s fifty day moving average is $67.68 and its 200 day moving average is $69.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. Stock Yards Bancorp, Inc. has a 52 week low of $60.75 and a 52 week high of $83.83. The firm has a market cap of $1.90 billion, a P/E ratio of 13.59 and a beta of 0.71.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $104.47 million for 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%. Research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. Stock Yards Bancorp’s payout ratio is currently 26.95%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYBT. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Piper Sandler restated a “neutral” rating and issued a $76.00 target price (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Hovde Group increased their price target on shares of Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.00.

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.