Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,980 shares of the bank’s stock after selling 4,855 shares during the quarter. Bank of New York Mellon Corp owned 0.43% of Stock Yards Bancorp worth $9,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. lifted its holdings in Stock Yards Bancorp by 115.6% during the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after buying an additional 260 shares during the last quarter. Kentucky Trust Co purchased a new stake in Stock Yards Bancorp during the 4th quarter worth about $44,000. Allworth Financial LP lifted its holdings in Stock Yards Bancorp by 126.2% during the 4th quarter. Allworth Financial LP now owns 846 shares of the bank’s stock worth $63,000 after buying an additional 472 shares during the last quarter. Quantbot Technologies LP lifted its holdings in Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after buying an additional 1,367 shares during the last quarter. Finally, FMR LLC lifted its holdings in Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after buying an additional 167 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

SYBT stock opened at $68.54 on Friday. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50 day moving average price is $72.56 and its 200 day moving average price is $69.44. The firm has a market cap of $2.02 billion, a P/E ratio of 17.62 and a beta of 0.84.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm posted $0.82 EPS. On average, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.81%. Stock Yards Bancorp’s dividend payout ratio is currently 31.88%.

Analyst Ratings Changes

Separately, Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $70.00 to $76.00 in a report on Friday, November 15th.

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.