Barclays PLC Boosts Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Barclays PLC grew its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 137.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,801 shares of the bank’s stock after acquiring an additional 26,537 shares during the period. Barclays PLC owned about 0.16% of Stock Yards Bancorp worth $2,840,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stock Yards Bancorp in the second quarter valued at $45,000. Quantbot Technologies LP boosted its stake in shares of Stock Yards Bancorp by 151.2% in the third 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. FMR LLC grew its holdings in Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after acquiring an additional 167 shares during the period. Wesbanco Bank Inc. purchased a new position in Stock Yards Bancorp during the third quarter valued at approximately $206,000. Finally, Ballentine Partners LLC acquired a new position in Stock Yards Bancorp in the third quarter valued at approximately $219,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David P. Heintzman sold 3,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the transaction, the director now owns 21,411 shares in the company, valued at $1,672,199.10. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,614 shares of company stock worth $2,347,890 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $72.46 on Wednesday. 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 firm has a fifty day moving average of $72.50 and a 200 day moving average of $62.08. The firm has a market cap of $2.13 billion, a PE ratio of 19.91 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.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. As a group, research analysts predict that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

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

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.