Intech Investment Management LLC Buys Shares of 7,005 Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Intech Investment Management LLC purchased a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,005 shares of the bank’s stock, valued at approximately $434,000.

Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth about $45,000. Wesbanco Bank Inc. acquired a new position in shares of Stock Yards Bancorp during the 3rd quarter valued at $206,000. Ballentine Partners LLC bought a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth $219,000. Bridges Investment Management Inc. acquired a new stake in shares of Stock Yards Bancorp in the third quarter valued at $238,000. Finally, Point72 Asset Management L.P. boosted its position in shares of Stock Yards Bancorp by 10.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock valued at $263,000 after purchasing an additional 494 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYBT. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Piper Sandler boosted their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.25.

Insider Transactions at Stock Yards Bancorp

In related news, President Philip Poindexter sold 3,419 shares of Stock Yards Bancorp stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares of the company’s stock, valued at $3,878,057.05. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David P. Heintzman sold 2,700 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the transaction, the director now directly owns 29,786 shares of the company’s stock, valued at approximately $1,878,603.02. This represents a 8.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,269 shares of company stock worth $2,514,725 over the last three months. 3.90% of the stock is currently owned by insiders.

Stock Yards Bancorp Stock Up 0.9 %

Shares of Stock Yards Bancorp stock opened at $76.80 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 21.10 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $79.79. The stock has a 50-day simple moving average of $67.79 and a 200-day simple moving average of $58.78.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The firm had revenue of $130.52 million during the quarter, compared to analyst estimates of $87.57 million. On average, equities research analysts expect that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.61%. Stock Yards Bancorp’s payout ratio is presently 34.07%.

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.