Tudor Investment Corp ET AL Raises Stock Position in Stock Yards Bancorp, Inc. $SYBT

Tudor Investment Corp ET AL grew its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 352.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,268 shares of the bank’s stock after buying an additional 59,413 shares during the period. Tudor Investment Corp ET AL’s holdings in Stock Yards Bancorp were worth $5,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP acquired a new position in Stock Yards Bancorp in the third quarter valued at $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at about $45,000. Huntington National Bank boosted its position in shares of Stock Yards Bancorp by 15.0% in the 3rd quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after purchasing an additional 163 shares during the period. State of Alaska Department of Revenue purchased a new position in Stock Yards Bancorp during the 3rd quarter worth approximately $92,000. Finally, Advisory Services Network LLC acquired a new position in Stock Yards Bancorp during the third quarter worth approximately $124,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Down 0.4%

Shares of NASDAQ:SYBT opened at $64.22 on Wednesday. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 13.52 and a beta of 0.72. The firm’s 50-day simple moving average is $66.90 and its 200-day simple moving average is $67.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. Stock Yards Bancorp, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million for the quarter, compared to analyst estimates of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. As a group, equities research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders 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 yield of 2.0%. Stock Yards Bancorp’s payout ratio is presently 26.95%.

Analyst Ratings Changes

SYBT has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, March 8th. Piper Sandler reiterated a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, March 6th. Finally, Zacks Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Stock Yards Bancorp has an average rating of “Moderate Buy” 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.