JPMorgan Chase & Co. Acquires 1,360 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

JPMorgan Chase & Co. grew its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 6.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,417 shares of the bank’s stock after purchasing an additional 1,360 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Stock Yards Bancorp worth $1,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Stock Yards Bancorp by 7.5% in the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after buying an additional 167 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Stock Yards Bancorp by 10.3% in the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after buying an additional 494 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp in the second quarter worth about $45,000. Barlow Wealth Partners Inc. lifted its holdings in shares of Stock Yards Bancorp by 1.7% in the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock worth $3,805,000 after buying an additional 1,069 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings 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 in the last quarter. Institutional investors own 56.46% of the company’s stock.

Insiders Place Their Bets

In related news, President Philip Poindexter sold 3,419 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares in the company, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David P. Heintzman sold 2,341 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.05, for a total value of $154,623.05. Following the completion of the transaction, the director now owns 97,070 shares of the company’s stock, valued at $6,411,473.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,955 shares of company stock valued at $1,842,549. 3.90% of the stock is owned by insiders.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $74.13 on Friday. The stock has a market cap of $2.18 billion, a P/E ratio of 20.37 and a beta of 0.86. The firm’s fifty day simple moving average is $73.82 and its 200 day simple moving average is $65.37. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. During the same period last year, the firm posted $0.82 earnings per share. As a group, research analysts predict that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 31.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYBT shares. Piper Sandler raised their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th.

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.