Creative Planning Purchases 3,289 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Creative Planning increased its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,346 shares of the bank’s stock after buying an additional 3,289 shares during the quarter. Creative Planning owned 0.16% of Stock Yards Bancorp worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Wesbanco Bank Inc. bought a new stake in Stock Yards Bancorp in the 3rd quarter worth approximately $206,000. Independence Bank of Kentucky increased its stake in Stock Yards Bancorp by 10.5% in the 3rd quarter. Independence Bank of Kentucky now owns 15,889 shares of the bank’s stock worth $985,000 after purchasing an additional 1,515 shares during the period. Barlow Wealth Partners Inc. increased its stake in Stock Yards Bancorp by 1.7% in the 3rd quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock worth $3,805,000 after purchasing an additional 1,069 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Stock Yards Bancorp in the 2nd quarter worth approximately $45,000. Finally, Point72 Asset Management L.P. increased its stake in Stock Yards Bancorp by 10.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after purchasing an additional 494 shares during the period. Institutional investors own 56.46% of the company’s stock.

Insiders Place Their Bets

In other Stock Yards Bancorp news, EVP William Dishman sold 2,204 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total value of $137,331.24. Following the completion of the transaction, the executive vice president now owns 34,444 shares in the company, valued at approximately $2,146,205.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Stock Yards Bancorp news, EVP William Dishman sold 2,204 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total value of $137,331.24. Following the completion of the transaction, the executive vice president now owns 34,444 shares in the company, valued at approximately $2,146,205.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David P. Heintzman sold 2,700 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the transaction, the director now owns 29,786 shares of the company’s stock, valued at approximately $1,878,603.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,457 shares of company stock worth $961,846. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYBT shares. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Thursday. Piper Sandler lifted their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Finally, Stephens boosted their target price on Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Stock Yards Bancorp has an average rating of “Hold” and a consensus price target of $67.75.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock opened at $64.68 on Friday. 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 cap of $1.90 billion, a PE ratio of 18.17 and a beta of 0.82. The business has a 50 day moving average of $61.11 and a 200 day moving average of $53.86. Stock Yards Bancorp, Inc. has a 52 week low of $37.51 and a 52 week high of $67.12.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. As a group, equities research analysts forecast that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were issued a $0.31 dividend. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.92%. Stock Yards Bancorp’s dividend payout ratio is 34.83%.

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.