Stephens Inc. AR Lowers Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Stephens Inc. AR trimmed its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 16.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,375 shares of the bank’s stock after selling 1,294 shares during the period. Stephens Inc. AR’s holdings in Stock Yards Bancorp were worth $457,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SYBT. Victory Capital Management Inc. purchased a new position in Stock Yards Bancorp in the third quarter worth approximately $30,255,000. Meridian Wealth Management LLC acquired a new position in Stock Yards Bancorp during the third quarter worth $9,082,000. Barclays PLC lifted its stake in Stock Yards Bancorp by 137.8% during the third quarter. Barclays PLC now owns 45,801 shares of the bank’s stock worth $2,840,000 after purchasing an additional 26,537 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in Stock Yards Bancorp by 22.5% during the third quarter. Aptus Capital Advisors LLC now owns 94,956 shares of the bank’s stock worth $5,886,000 after purchasing an additional 17,469 shares in the last quarter. Finally, State Street Corp lifted its stake in Stock Yards Bancorp by 2.0% during the third quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after purchasing an additional 15,156 shares in the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SYBT. Piper Sandler upped their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Hovde Group cut 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 note on Thursday, October 24th.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, President Philip Poindexter sold 3,419 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the sale, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the completion of the sale, the executive vice president now owns 16,927 shares in the company, 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. Insiders have sold a total of 9,614 shares of company stock worth $733,356 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Stock Down 0.3 %

Shares of NASDAQ SYBT opened at $75.22 on Friday. The stock has a market cap of $2.21 billion, a P/E ratio of 19.34 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79. The business’s fifty day simple moving average is $73.56 and its 200-day simple moving average is $67.56.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the previous year, the firm earned $0.82 EPS. As a group, equities analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio is presently 31.88%.

Stock Yards Bancorp Company Profile

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.