Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Purchased by Diversified Trust Co

Diversified Trust Co raised its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 34.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,910 shares of the bank’s stock after acquiring an additional 2,530 shares during the quarter. Diversified Trust Co’s holdings in Stock Yards Bancorp were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYBT. Chatham Capital Group Inc. boosted its holdings in Stock Yards Bancorp by 11.6% during the first quarter. Chatham Capital Group Inc. now owns 30,277 shares of the bank’s stock worth $1,481,000 after buying an additional 3,140 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Stock Yards Bancorp by 34.1% during the 1st quarter. Independence Bank of Kentucky now owns 14,172 shares of the bank’s stock worth $693,000 after acquiring an additional 3,603 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Stock Yards Bancorp by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after acquiring an additional 33,906 shares during the period. RMB Capital Management LLC increased its stake in shares of Stock Yards Bancorp by 49.7% in the 4th quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock valued at $11,494,000 after purchasing an additional 74,132 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Stock Yards Bancorp by 26.2% in the 4th quarter. Corient Private Wealth LLC now owns 21,771 shares of the bank’s stock worth $1,121,000 after purchasing an additional 4,526 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SYBT. Piper Sandler assumed coverage on Stock Yards Bancorp in a report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and an average target price of $50.00.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the completion of the sale, the director now owns 113,070 shares in the company, valued at approximately $5,319,943.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Trading Down 2.4 %

SYBT stock opened at $49.27 on Thursday. Stock Yards Bancorp, Inc. has a 12-month low of $36.93 and a 12-month high of $53.15. The business’s 50-day moving average is $47.31 and its 200 day moving average is $47.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 13.84 and a beta of 0.83.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 24th. The bank reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Stock Yards Bancorp had a return on equity of 12.51% and a net margin of 22.86%. The business had revenue of $83.44 million for the quarter, compared to the consensus estimate of $83.00 million. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 3.49 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.20 annualized dividend and a yield of 2.44%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 33.71%.

About Stock Yards Bancorp

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.