Sippican Capital Advisors Raises Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Sippican Capital Advisors raised its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,844 shares of the bank’s stock after buying an additional 490 shares during the period. Sippican Capital Advisors’ holdings in Stock Yards Bancorp were worth $1,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYBT. Blue Trust Inc. boosted its holdings in Stock Yards Bancorp by 24.9% during the 4th quarter. Blue Trust Inc. now owns 5,011 shares of the bank’s stock valued at $359,000 after acquiring an additional 1,000 shares during the period. Firethorn Wealth Partners LLC boosted its stake in shares of Stock Yards Bancorp by 0.9% during the fourth quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank’s stock valued at $1,048,000 after purchasing an additional 136 shares during the period. Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Stock Yards Bancorp in the fourth quarter worth approximately $749,000. SG Americas Securities LLC purchased a new position in shares of Stock Yards Bancorp in the fourth quarter worth $453,000. Finally, JPMorgan Chase & Co. raised its holdings in Stock Yards Bancorp by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank’s stock valued at $1,390,000 after buying an additional 1,360 shares during the last quarter. 56.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stephens lowered shares of 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. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Piper Sandler increased their price objective 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 Price Performance

SYBT stock opened at $75.20 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79. The firm has a 50-day moving average of $73.96 and a 200 day moving average of $66.23. The company has a market cap of $2.21 billion, a P/E ratio of 19.33 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period last year, the company posted $0.82 earnings per share. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 4.03 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

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

Insider Transactions at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the completion of the transaction, the director now owns 21,411 shares of the company’s stock, valued at $1,672,199.10. This trade represents a 14.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Philip Poindexter sold 3,419 shares of Stock Yards Bancorp stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the transaction, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,614 shares of company stock valued at $1,687,926 in the last three months. 3.90% of the stock is currently 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.