Wealth Enhancement Advisory Services LLC Has $489,000 Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Wealth Enhancement Advisory Services LLC lowered its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,894 shares of the bank’s stock after selling 515 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Stock Yards Bancorp were worth $489,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Ballentine Partners LLC acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $219,000. Creative Planning raised its position in shares of Stock Yards Bancorp by 7.6% during the 3rd quarter. Creative Planning now owns 46,346 shares of the bank’s stock valued at $2,873,000 after acquiring an additional 3,289 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $206,000. Independence Bank of Kentucky boosted its position in shares of Stock Yards Bancorp by 10.5% in the 3rd quarter. Independence Bank of Kentucky now owns 15,889 shares of the bank’s stock worth $985,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Barlow Wealth Partners Inc. grew its stake in shares of Stock Yards Bancorp by 1.7% during the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock worth $3,805,000 after purchasing an additional 1,069 shares during the period. Institutional investors own 56.46% of the company’s stock.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total transaction of $223,770.00. Following the completion of the transaction, the director now directly owns 30,150 shares of the company’s stock, valued at $2,248,888.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total transaction of $223,770.00. Following the completion of the transaction, the director now directly owns 30,150 shares in the company, valued at $2,248,888.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard A. Lechleiter bought 650 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $56.40 per share, for a total transaction of $36,660.00. Following the transaction, the director now owns 5,680 shares of the company’s stock, valued at $320,352. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 15,700 shares of company stock worth $1,054,023. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYBT. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Piper Sandler increased their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stephens boosted their price target on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Stock Yards Bancorp has an average rating of “Hold” and a consensus price target of $67.75.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $73.62 on Friday. The firm’s 50 day moving average price is $62.94 and its two-hundred day moving average price is $55.47. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $76.37. The firm has a market cap of $2.17 billion, a P/E ratio of 20.23 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping 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 firm had revenue of $130.52 million during the quarter, compared to analyst estimates of $87.57 million. On average, analysts forecast that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, September 16th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 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.