Marshall Wace LLP Has $1.54 Million Stock Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Marshall Wace LLP decreased its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 45.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,056 shares of the bank’s stock after selling 25,670 shares during the quarter. Marshall Wace LLP owned approximately 0.11% of Stock Yards Bancorp worth $1,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP bought a new position in Stock Yards Bancorp in the 1st quarter worth $195,000. ProShare Advisors LLC increased its stake in shares of Stock Yards Bancorp by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Stock Yards Bancorp by 94.3% in the second quarter. Farther Finance Advisors LLC now owns 5,836 shares of the bank’s stock worth $287,000 after purchasing an additional 2,833 shares during the period. Orleans Capital Management Corp LA acquired a new position in shares of Stock Yards Bancorp during the 1st quarter worth about $357,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Stock Yards Bancorp by 46.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,071 shares of the bank’s stock valued at $401,000 after purchasing an additional 2,546 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Stephens lifted their price target on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 target price (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Piper Sandler reissued a “neutral” rating and issued a $65.50 price target on shares of Stock Yards Bancorp in a report on Tuesday, September 10th. Finally, Hovde Group boosted their price objective on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.88.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT opened at $59.37 on Friday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.68 and a beta of 0.82. Stock Yards Bancorp, Inc. has a one year low of $36.93 and a one year high of $65.00. The business has a fifty day simple moving average of $59.08 and a 200 day simple moving average of $52.06. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. The company had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.69 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.09%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, September 16th. Stock Yards Bancorp’s payout ratio is presently 34.83%.

Insider Activity

In related news, CEO James A. Hillebrand sold 9,053 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the transaction, the chief executive officer now owns 105,450 shares in the company, valued at $6,536,845.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James A. Hillebrand sold 9,053 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $61.99, for a total value of $561,195.47. Following the sale, the chief executive officer now owns 105,450 shares of the company’s stock, valued at approximately $6,536,845.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Lechleiter purchased 650 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $56.40 per share, with a total value of $36,660.00. Following the completion of the acquisition, the director now directly owns 5,680 shares in the company, valued at $320,352. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 21,457 shares of company stock worth $1,335,466. Company insiders own 3.90% of the company’s stock.

About Stock Yards Bancorp

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.