Stephens Inc. AR Reduces Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Stephens Inc. AR decreased its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 16.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,375 shares of the bank’s stock after selling 1,294 shares during the quarter. Stephens Inc. AR’s holdings in Stock Yards Bancorp were worth $457,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Stock Yards Bancorp by 2.0% during the third quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after purchasing an additional 15,156 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Stock Yards Bancorp by 0.9% during the third quarter. Geode Capital Management LLC now owns 636,744 shares of the bank’s stock worth $39,480,000 after buying an additional 5,391 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Stock Yards Bancorp during the third quarter worth about $30,255,000. Curi RMB Capital LLC grew its holdings in shares of Stock Yards Bancorp by 3.9% during the third quarter. Curi RMB Capital LLC now owns 250,369 shares of the bank’s stock worth $15,520,000 after buying an additional 9,291 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Stock Yards Bancorp by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,027 shares of the bank’s stock worth $13,577,000 after buying an additional 3,531 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $75.22 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The company has a market cap of $2.21 billion, a P/E ratio of 19.34 and a beta of 0.86. Stock Yards Bancorp, Inc. has a 52 week low of $42.35 and a 52 week high of $79.79. The company has a 50-day moving average price of $73.56 and a 200 day moving average price of $67.56.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same period in the prior year, the company earned $0.82 earnings per share. Research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.65%. Stock Yards Bancorp’s payout ratio is 31.88%.

Insider Activity

In other news, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the completion of the sale, the executive vice president now directly owns 16,927 shares in the company, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Philip Poindexter sold 3,419 shares of Stock Yards Bancorp stock in a transaction that occurred 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 sale, the president now owns 51,331 shares of the company’s stock, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,614 shares of company stock worth $733,356. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

SYBT has been the topic of a number of research reports. Piper Sandler raised their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $67.00 to $68.00 in a research 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.