Glenview Trust Co Cuts Position in Stock Yards Bancorp, Inc. $SYBT

Glenview Trust Co trimmed its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 13.6% in the 1st quarter, HoldingsChannel reports. The fund owned 51,998 shares of the bank’s stock after selling 8,192 shares during the quarter. Glenview Trust Co’s holdings in Stock Yards Bancorp were worth $3,447,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. boosted its position in Stock Yards Bancorp by 37.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock valued at $86,928,000 after purchasing an additional 366,475 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Stock Yards Bancorp by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock worth $12,191,000 after purchasing an additional 816 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Stock Yards Bancorp by 47.2% during the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock valued at $12,859,000 after buying an additional 58,942 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after buying an additional 155,512 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Stock Yards Bancorp by 8.9% in the 4th quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock valued at $10,274,000 after buying an additional 12,976 shares in the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYBT has been the topic of a number of analyst reports. Stephens lifted their price objective 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. Piper Sandler reissued 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. Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Raymond James Financial initiated coverage on shares of Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus price target of $76.75.

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 sale, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.

Stock Yards Bancorp Trading Up 0.7%

Stock Yards Bancorp stock opened at $81.34 on Wednesday. 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 company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 16.74 and a beta of 0.68. The stock has a 50-day moving average price of $74.31 and a 200 day moving average price of $70.17.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The company had revenue of $102.63 million for the quarter, compared to the consensus estimate of $108.18 million. Sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 5 EPS for the current 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 paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 15th. Stock Yards Bancorp’s payout ratio is presently 26.34%.

Stock Yards Bancorp Company 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.