UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 6,382 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,786 shares of the bank’s stock after selling 6,382 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Stock Yards Bancorp were worth $2,342,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake 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 acquiring an additional 167 shares during the period. Independence Bank of Kentucky lifted its position in shares of Stock Yards Bancorp by 1.4% in the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after purchasing an additional 202 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Stock Yards Bancorp by 10.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock valued at $263,000 after purchasing an additional 494 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Stock Yards Bancorp during the second quarter worth $45,000. Finally, Barlow Wealth Partners Inc. raised its stake in Stock Yards Bancorp by 1.7% during 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 during the last quarter. Institutional investors own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Stock Yards Bancorp Trading Up 0.4 %

NASDAQ:SYBT opened at $77.62 on Friday. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $79.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 21.32 and a beta of 0.85. The firm has a fifty day simple moving average of $70.88 and a two-hundred day simple moving average of $60.60.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Analysts expect that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. Stock Yards Bancorp’s dividend payout ratio is 34.07%.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the sale, the director now owns 29,786 shares in the company, valued at approximately $1,878,603.02. The trade was a 8.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Philip Poindexter sold 3,419 shares of the firm’s 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 completion of the transaction, the president now directly owns 51,331 shares in the company, valued at $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. Insiders have sold 35,269 shares of company stock valued at $2,514,725 over the last ninety days. 3.90% of the stock is owned by company insiders.

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.