Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 10.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,294 shares of the bank’s stock after purchasing an additional 494 shares during the quarter. Point72 Asset Management L.P.’s holdings in Stock Yards Bancorp were worth $263,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Independence Bank of Kentucky increased its position in Stock Yards Bancorp by 1.4% during the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after purchasing an additional 202 shares in the last quarter. Diversified Trust Co grew its position in Stock Yards Bancorp by 2.3% in the second quarter. Diversified Trust Co now owns 10,141 shares of the bank’s stock valued at $504,000 after acquiring an additional 231 shares in the last quarter. ProShare Advisors LLC grew its position in Stock Yards Bancorp by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock valued at $239,000 after acquiring an additional 384 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp in the second quarter valued at approximately $45,000. Finally, Price T Rowe Associates Inc. MD grew its position in Stock Yards Bancorp by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,341 shares of the bank’s stock valued at $1,142,000 after acquiring an additional 977 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $59.37 on Friday. The stock has a market cap of $1.75 billion, a P/E ratio of 16.68 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $59.08 and a 200-day moving average of $52.06. Stock Yards Bancorp, Inc. has a 52 week low of $36.93 and a 52 week high of $65.00.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.84 by $0.10. The company had revenue of $123.96 million during 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%. On average, analysts expect that Stock Yards Bancorp, Inc. will post 3.69 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, September 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.09%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 34.83%.

Analysts Set New Price Targets

SYBT has been the subject of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Hovde Group increased their price objective on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $65.50 price objective on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. Finally, Stephens increased their price objective on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Stock Yards Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $65.88.

Insider Buying and Selling

In related news, CEO James A. Hillebrand sold 9,053 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $61.99, for a total transaction of $561,195.47. Following the transaction, the chief executive officer now directly owns 105,450 shares in the company, valued at $6,536,845.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 9,053 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $61.99, for a total value of $561,195.47. Following the sale, the chief executive officer now directly owns 105,450 shares in the company, valued at approximately $6,536,845.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David P. Heintzman sold 6,000 shares of the firm’s stock in a transaction 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 in the company, valued at $6,667,248.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,457 shares of company stock worth $1,335,466 over the last ninety days. 3.90% of the stock is owned by insiders.

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.