Principal Securities Inc. Buys 260 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Principal Securities Inc. raised its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 115.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 485 shares of the bank’s stock after purchasing an additional 260 shares during the period. Principal Securities Inc.’s holdings in Stock Yards Bancorp were worth $35,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYBT. Rhumbline Advisers lifted its position in Stock Yards Bancorp by 0.7% in the fourth quarter. Rhumbline Advisers now owns 41,385 shares of the bank’s stock worth $2,964,000 after purchasing an additional 307 shares during the period. Kentucky Trust Co bought a new position in shares of Stock Yards Bancorp during the 4th quarter worth about $44,000. Money Concepts Capital Corp bought a new position in shares of Stock Yards Bancorp during the 4th quarter worth about $824,000. Sippican Capital Advisors boosted its position in shares of Stock Yards Bancorp by 2.8% during the 4th quarter. Sippican Capital Advisors now owns 17,844 shares of the bank’s stock valued at $1,278,000 after acquiring an additional 490 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Stock Yards Bancorp by 24.9% in the fourth quarter. Blue Trust Inc. now owns 5,011 shares of the bank’s stock valued at $359,000 after acquiring an additional 1,000 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $70.00 to $76.00 in a research note on Friday, November 15th.

Stock Yards Bancorp Stock Up 2.3 %

Shares of Stock Yards Bancorp stock opened at $72.86 on Friday. The business has a fifty day simple moving average of $73.07 and a 200 day simple moving average of $68.53. The stock has a market cap of $2.14 billion, a PE ratio of 18.73 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter last year, the company posted $0.82 earnings per share. Research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio is presently 31.88%.

Stock Yards Bancorp 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.