Fmr LLC Acquires 167 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Fmr LLC boosted its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 7.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,400 shares of the bank’s stock after buying an additional 167 shares during the quarter. Fmr LLC’s holdings in Stock Yards Bancorp were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Stock Yards Bancorp by 19.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,409 shares of the bank’s stock worth $418,000 after buying an additional 1,343 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Stock Yards Bancorp by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 152,229 shares of the bank’s stock worth $7,561,000 after purchasing an additional 8,777 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 acquiring an additional 2,546 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Stock Yards Bancorp in the second quarter valued at approximately $649,000. Finally, Farther Finance Advisors LLC lifted its stake in Stock Yards Bancorp by 94.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,836 shares of the bank’s stock valued at $287,000 after buying an additional 2,833 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

SYBT has been the subject of several recent analyst reports. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Piper Sandler lifted their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $72.72 on Monday. The firm has a market capitalization of $2.14 billion, a PE ratio of 19.98 and a beta of 0.85. Stock Yards Bancorp, Inc. has a one year low of $42.35 and a one year high of $79.79. The stock’s 50 day moving average price is $72.18 and its 200 day moving average price is $61.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last issued 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. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. As a group, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s payout ratio is 34.07%.

Insider Activity

In other Stock Yards Bancorp news, President Philip Poindexter sold 3,419 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the sale, the president now owns 51,331 shares in the company, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David P. Heintzman sold 3,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.10, for a total value of $273,350.00. Following the sale, the director now directly owns 21,411 shares in the company, valued at $1,672,199.10. This represents a 14.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,614 shares of company stock worth $2,347,890 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

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.