Mutual of America Capital Management LLC Has $7.06 Million Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Mutual of America Capital Management LLC raised its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,171 shares of the bank’s stock after buying an additional 264 shares during the quarter. Mutual of America Capital Management LLC owned about 0.48% of Stock Yards Bancorp worth $7,062,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Stock Yards Bancorp in the 4th quarter valued at approximately $9,100,000. American Century Companies Inc. increased its holdings in shares of Stock Yards Bancorp by 163.4% during the second quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock worth $7,076,000 after purchasing an additional 88,364 shares during the period. RMB Capital Management LLC raised its stake in Stock Yards Bancorp by 49.7% in the fourth 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. Champlain Investment Partners LLC lifted its holdings in shares of Stock Yards Bancorp by 4.5% during the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after acquiring an additional 50,730 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Stock Yards Bancorp by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock worth $46,612,000 after purchasing an additional 35,851 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $64.71 on Friday. The stock has a market cap of $1.90 billion, a P/E ratio of 18.18 and a beta of 0.82. The firm’s fifty day moving average price is $58.41 and its 200-day moving average price is $50.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92. Stock Yards Bancorp, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $64.79.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.10. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. The business had revenue of $123.96 million for the quarter, compared to analyst estimates of $83.90 million. On average, equities research analysts expect that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.92%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.83%.

Insiders Place Their Bets

In related news, Director Richard A. Lechleiter bought 650 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $56.40 per share, for a total transaction of $36,660.00. Following the purchase, the director now owns 5,680 shares of the company’s stock, valued at $320,352. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Richard A. Lechleiter purchased 650 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $56.40 per share, with a total value of $36,660.00. Following the completion of the acquisition, the director now directly owns 5,680 shares of the company’s stock, valued at $320,352. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David P. Heintzman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $62.27, for a total value of $373,620.00. Following the completion of the transaction, the director now owns 107,070 shares of the company’s stock, valued at $6,667,248.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,757 shares of company stock valued at $1,165,177. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SYBT shares. Stephens raised their price objective on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Piper Sandler reissued a “neutral” rating and issued a $65.50 price objective on shares of Stock Yards Bancorp in a research note on Tuesday, September 10th. Hovde Group increased their target price on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $65.88.

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.