Cox Capital Mgt LLC Reduces Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Cox Capital Mgt LLC reduced its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,638 shares of the bank’s stock after selling 401 shares during the period. Cox Capital Mgt LLC’s holdings in Stock Yards Bancorp were worth $977,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SYBT. Point72 Asia Singapore Pte. Ltd. acquired a new position in Stock Yards Bancorp in the second quarter valued at $45,000. Quantbot Technologies LP grew its holdings in Stock Yards Bancorp by 151.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after buying an additional 1,367 shares during the period. FMR LLC lifted its holdings in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after acquiring an additional 167 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $206,000. Finally, Independent Solutions Wealth Management LLC purchased a new stake in Stock Yards Bancorp during the third quarter valued at about $207,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David P. Heintzman sold 3,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $78.10, for a total value of $273,350.00. Following the sale, the director now directly owns 21,411 shares of the company’s stock, valued at $1,672,199.10. This represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,614 shares of company stock worth $2,347,890. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on SYBT shares. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th.

Stock Yards Bancorp Stock Up 4.1 %

Shares of NASDAQ:SYBT opened at $70.75 on Wednesday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.44 and a beta of 0.86. The company has a 50 day moving average of $74.01 and a two-hundred day moving average of $64.48. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $79.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The business had revenue of $130.52 million during the quarter, compared to analyst estimates of $87.57 million. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Monday, December 16th. Stock Yards Bancorp’s payout ratio is 34.07%.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.