Stock Yards Bancorp, Inc. $SYBT Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lessened its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 1.5% during the 1st quarter, Holdings Channel reports. The firm owned 1,318,644 shares of the bank’s stock after selling 19,733 shares during the quarter. Stock Yards Bancorp comprises 2.7% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 7th largest holding. Stock Yards Bank & Trust Co.’s holdings in Stock Yards Bancorp were worth $87,413,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Stock Yards Bancorp by 47.4% in the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after purchasing an additional 2,297 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Stock Yards Bancorp by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock worth $1,051,000 after purchasing an additional 658 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Stock Yards Bancorp by 28.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after buying an additional 11,758 shares during the last quarter. Jane Street Group LLC purchased a new stake in Stock Yards Bancorp in the first quarter valued at approximately $3,400,000. Finally, Cetera Investment Advisers acquired a new position in Stock Yards Bancorp in the 2nd quarter worth approximately $365,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Philip Poindexter sold 1,221 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at $3,772,615.68. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stephens raised their price target on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Hovde Group upgraded 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 note on Friday, March 6th. Zacks Research cut shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Piper Sandler restated a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stock Yards Bancorp has an average rating of “Hold” and an average target price of $76.75.

Stock Yards Bancorp Trading Up 2.4%

SYBT stock opened at $78.27 on Thursday. The company’s 50-day simple moving average is $72.39 and its 200-day simple moving average is $69.10. 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 firm has a market cap of $2.31 billion, a P/E ratio of 16.10 and a beta of 0.68.

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

Stock Yards Bancorp Dividend Announcement

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

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.