896 Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 896 shares of the bank’s stock, valued at approximately $45,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in Stock Yards Bancorp during the first quarter valued at approximately $195,000. ProShare Advisors LLC raised its position in shares of Stock Yards Bancorp by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock valued at $239,000 after purchasing an additional 384 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Stock Yards Bancorp by 94.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,836 shares of the bank’s stock valued at $287,000 after buying an additional 2,833 shares in the last quarter. Orleans Capital Management Corp LA purchased a new stake in Stock Yards Bancorp in the 1st quarter worth $357,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Stock Yards Bancorp by 46.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,071 shares of the bank’s stock valued at $401,000 after acquiring an additional 2,546 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SYBT shares. Stephens increased their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Piper Sandler restated a “neutral” rating and set a $65.50 target price on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. Finally, Hovde Group lifted their price target on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.88.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 6,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $6,667,248.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Richard A. Lechleiter purchased 650 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $56.40 per share, for a total transaction of $36,660.00. Following the purchase, the director now directly owns 5,680 shares of the company’s stock, valued at approximately $320,352. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Heintzman sold 6,000 shares of the business’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 value of $373,620.00. Following the completion of the sale, the director now owns 107,070 shares of the company’s stock, valued at approximately $6,667,248.90. The disclosure for this sale can be found here. Insiders sold 21,457 shares of company stock valued at $1,335,466 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $61.99 on Tuesday. Stock Yards Bancorp, Inc. has a one year low of $36.93 and a one year high of $65.00. The stock has a market cap of $1.82 billion, a PE ratio of 17.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a 50 day moving average price of $59.28 and a 200 day moving average price of $51.68.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. The company had revenue of $123.96 million for the quarter, compared to the consensus estimate of $83.90 million. Equities research analysts expect that Stock Yards Bancorp, Inc. will post 3.69 EPS 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 issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 2.00%. Stock Yards Bancorp’s dividend payout ratio is 34.83%.

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.