13,068 Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC purchased a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,068 shares of the bank’s stock, valued at approximately $649,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SYBT. Quadrant Capital Group LLC boosted its holdings in Stock Yards Bancorp by 70.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock valued at $99,000 after purchasing an additional 799 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Stock Yards Bancorp during the first quarter worth about $195,000. ProShare Advisors LLC increased its position in shares of Stock Yards Bancorp by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares in the last quarter. Orleans Capital Management Corp LA acquired a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at about $357,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Stock Yards Bancorp by 46.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,071 shares of the bank’s stock worth $401,000 after buying an additional 2,546 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 6,000 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $62.27, for a total transaction of $373,620.00. Following the completion of the transaction, the director now directly owns 107,070 shares in the company, valued at approximately $6,667,248.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David P. Heintzman sold 1,500 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $62.02, for a total transaction of $93,030.00. Following the completion of the sale, the director now directly owns 30,379 shares in the company, valued at $1,884,105.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David P. Heintzman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $62.27, for a total transaction of $373,620.00. Following the transaction, the director now directly owns 107,070 shares in the company, valued at approximately $6,667,248.90. The disclosure for this sale can be found here. Insiders have sold 18,757 shares of company stock valued at $1,165,177 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

SYBT has been the topic of a number of recent research reports. Stephens lifted their target price on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Hovde Group boosted their price target on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler reissued a “neutral” rating and issued a $65.50 target price on shares of Stock Yards Bancorp in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has an average rating of “Hold” and an average price target of $65.88.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $64.71 on Friday. The company has a market capitalization of $1.90 billion, a PE ratio of 18.18 and a beta of 0.82. Stock Yards Bancorp, Inc. has a 52-week low of $36.93 and a 52-week high of $64.79. The company has a 50-day simple moving average of $58.41 and a 200-day simple moving average of $50.78. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. The business had revenue of $123.96 million for the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. Equities research analysts predict that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.92%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s payout ratio is presently 34.83%.

Stock Yards Bancorp 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.