Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 636,744 shares of the bank’s stock after purchasing an additional 5,391 shares during the quarter. Geode Capital Management LLC owned approximately 2.16% of Stock Yards Bancorp worth $39,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SYBT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stock Yards Bancorp in the 2nd quarter valued at about $45,000. Quantbot Technologies LP increased its position in Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares during the last quarter. FMR LLC raised its stake 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 purchasing an additional 167 shares during the period. Wesbanco Bank Inc. acquired a new position in shares of Stock Yards Bancorp in the 3rd quarter valued at $206,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at $219,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. 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. Finally, Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $76.00 in a research report on Friday, November 15th.

Insiders Place Their Bets

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 transaction of $258,305.45. Following the transaction, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David P. Heintzman sold 2,341 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the sale, the director now directly owns 97,070 shares of the company’s stock, valued at $6,411,473.50. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,614 shares of company stock worth $2,347,890 in the last quarter. 3.90% of the stock is owned by corporate insiders.

Stock Yards Bancorp Trading Down 0.5 %

Shares of SYBT opened at $72.46 on Wednesday. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $79.79. The stock’s 50-day moving average is $72.50 and its two-hundred day moving average is $62.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $2.13 billion, a PE ratio of 19.91 and a beta of 0.85.

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

Stock Yards Bancorp Announces Dividend

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