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

JPMorgan Chase & Co. raised its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,417 shares of the bank’s stock after acquiring an additional 1,360 shares during the quarter. JPMorgan Chase & Co.’s holdings in Stock Yards Bancorp were worth $1,390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of SYBT. Point72 Asia Singapore Pte. Ltd. bought a new position in Stock Yards Bancorp in the 2nd quarter valued at $45,000. Quantbot Technologies LP grew its position in shares of Stock Yards Bancorp by 151.2% during the 3rd 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. FMR LLC grew its position in shares of Stock Yards Bancorp by 7.5% during the 3rd 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. Wesbanco Bank Inc. bought a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $206,000. Finally, Independent Solutions Wealth Management LLC bought a new position in shares of Stock Yards Bancorp during the 3rd quarter worth $207,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Shares of 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 stock has a 50-day moving average of $73.82 and a two-hundred day moving average of $65.37. 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, Inc. has a one year low of $42.35 and a one year high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, beating 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 in the previous 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 Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on SYBT. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Piper Sandler raised their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group lowered 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 research note on Thursday, October 24th.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the completion of the sale, the director now directly owns 21,411 shares in the company, valued at approximately $1,672,199.10. The trade was a 14.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $258,305.45. Following the sale, the president now owns 51,331 shares of the company’s stock, valued at approximately $3,878,057.05. This trade represents a 6.24 % 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 company insiders.

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.