Victory Capital Management Inc. Purchases 586,550 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Victory Capital Management Inc. grew its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 120.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,074,606 shares of the bank’s stock after purchasing an additional 586,550 shares during the quarter. Victory Capital Management Inc.’s holdings in Stock Yards Bancorp were worth $76,953,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYBT. Jones Financial Companies Lllp increased its position in Stock Yards Bancorp by 1,077.5% during the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock worth $34,000 after acquiring an additional 431 shares during the period. Principal Securities Inc. increased its position in Stock Yards Bancorp by 115.6% during the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after acquiring an additional 260 shares during the period. Kentucky Trust Co bought a new position in Stock Yards Bancorp during the fourth quarter worth $44,000. Allworth Financial LP increased its position in Stock Yards Bancorp by 126.2% during the fourth quarter. Allworth Financial LP now owns 846 shares of the bank’s stock worth $63,000 after acquiring an additional 472 shares during the period. Finally, Quantbot Technologies LP increased its position in Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after acquiring an additional 1,367 shares during the period. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Down 1.2 %

SYBT opened at $69.36 on Friday. Stock Yards Bancorp, Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $79.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $73.01 and its two-hundred day moving average price is $69.09. The company has a market capitalization of $2.04 billion, a P/E ratio of 17.83 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $0.82 EPS. On average, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. Stock Yards Bancorp’s dividend payout ratio is currently 31.88%.

Wall Street Analyst Weigh In

Separately, Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $70.00 to $76.00 in a research report on Friday, November 15th.

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.