New York State Common Retirement Fund Has $643,000 Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

New York State Common Retirement Fund lessened its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 86.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,979 shares of the bank’s stock after selling 58,116 shares during the quarter. New York State Common Retirement Fund’s holdings in Stock Yards Bancorp were worth $643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. raised its stake in shares of Stock Yards Bancorp by 115.6% during the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after acquiring an additional 260 shares during the last quarter. Kentucky Trust Co bought a new position in shares of Stock Yards Bancorp during the fourth quarter valued at $44,000. Allworth Financial LP raised its stake in shares of Stock Yards Bancorp by 126.2% during the fourth quarter. Allworth Financial LP now owns 846 shares of the bank’s stock valued at $63,000 after acquiring an additional 472 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after acquiring an additional 1,367 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Analysts Set New Price Targets

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

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $70.86 on Wednesday. The firm has a fifty day simple moving average of $73.09 and a two-hundred day simple moving average of $68.98. 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 twelve month low of $42.35 and a twelve month high of $79.79. The company has a market capitalization of $2.09 billion, a PE ratio of 18.22 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, beating 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 in the previous year, the firm posted $0.82 earnings per share. Research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) 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.