Charles Schwab Investment Management Inc. Grows Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Charles Schwab Investment Management Inc. raised its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 219,027 shares of the bank’s stock after buying an additional 3,531 shares during the period. Charles Schwab Investment Management Inc. owned 0.74% of Stock Yards Bancorp worth $13,577,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SYBT. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at $45,000. Wesbanco Bank Inc. bought a new stake in Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Ballentine Partners LLC purchased a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $219,000. German American Bancorp Inc. purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter valued at $231,000. Finally, Bridges Investment Management Inc. bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at about $238,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

SYBT opened at $77.82 on Monday. 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 stock’s 50 day simple moving average is $69.13 and its 200 day simple moving average is $59.62. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 21.38 and a beta of 0.85. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The firm had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. As a group, analysts predict that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.07%.

Insiders Place Their Bets

In other news, EVP Michael Rehm sold 2,650 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares in the company, valued at approximately $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Heintzman sold 7,659 shares of Stock Yards Bancorp stock in a transaction on Friday, October 25th. The stock was sold at an average price of $65.98, for a total value of $505,340.82. Following the completion of the sale, the director now directly owns 99,411 shares of the company’s stock, valued at approximately $6,559,137.78. The trade was a 7.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,269 shares of company stock worth $2,514,725. 3.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYBT. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Piper Sandler raised their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th.

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.