Squarepoint Ops LLC Acquires 2,389 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Squarepoint Ops LLC raised its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,568 shares of the bank’s stock after acquiring an additional 2,389 shares during the quarter. Squarepoint Ops LLC owned approximately 0.08% of Stock Yards Bancorp worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. RMB Capital Management LLC boosted its stake in shares of Stock Yards Bancorp by 49.7% during the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock valued at $11,494,000 after purchasing an additional 74,132 shares during the period. Vanguard Group Inc. lifted its holdings in Stock Yards Bancorp by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after buying an additional 33,906 shares in the last quarter. Independence Bank of Kentucky boosted its position in Stock Yards Bancorp by 34.1% in the 1st quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock valued at $693,000 after buying an additional 3,603 shares during the period. Chatham Capital Group Inc. grew its stake in Stock Yards Bancorp by 11.6% in the 1st quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock worth $1,481,000 after acquiring an additional 3,140 shares in the last quarter. Finally, Diversified Trust Co increased its position in shares of Stock Yards Bancorp by 34.3% during the first quarter. Diversified Trust Co now owns 9,910 shares of the bank’s stock worth $485,000 after acquiring an additional 2,530 shares during the period. Institutional investors own 56.46% of the company’s stock.

Analysts Set New Price Targets

SYBT has been the subject of several research analyst reports. Stephens lifted their price target on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Piper Sandler reissued a “neutral” rating and set a $65.50 price target on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. Finally, Hovde Group lifted their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

Insider Transactions at Stock Yards Bancorp

In related news, CEO James A. Hillebrand sold 9,053 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the sale, the chief executive officer now owns 105,450 shares of the company’s stock, valued at $6,536,845.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO James A. Hillebrand sold 9,053 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 105,450 shares in the company, valued at $6,536,845.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William Dishman sold 2,204 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $62.31, for a total value of $137,331.24. Following the completion of the sale, the executive vice president now owns 34,444 shares of the company’s stock, valued at approximately $2,146,205.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,457 shares of company stock valued at $1,335,466 in the last 90 days. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ:SYBT opened at $59.37 on Friday. The firm has a 50 day moving average of $59.08 and a 200 day moving average of $52.06. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48. The company 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 52 week low of $36.93 and a 52 week high of $65.00.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. The firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million. On average, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $0.31 dividend. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.83%.

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.