Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,043 shares of the bank’s stock after selling 846 shares during the quarter. Independence Bank of Kentucky owned 0.05% of Stock Yards Bancorp worth $1,077,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its position in shares of Stock Yards Bancorp by 11.3% in the second quarter. Squarepoint Ops LLC now owns 23,568 shares of the bank’s stock valued at $1,171,000 after purchasing an additional 2,389 shares during the period. Creative Planning lifted its stake in Stock Yards Bancorp by 534.3% in the 2nd quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after buying an additional 36,269 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in 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 worth $263,000 after buying an additional 494 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $45,000. Finally, Barlow Wealth Partners Inc. raised its holdings in shares of Stock Yards Bancorp by 1.7% during the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock valued at $3,805,000 after acquiring an additional 1,069 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Down 0.9 %

Shares of NASDAQ:SYBT opened at $73.71 on Friday. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $79.79. 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 business has a fifty day moving average of $73.92 and a two-hundred day moving average of $66.42. The stock has a market cap of $2.17 billion, a P/E ratio of 18.95 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data 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 net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio is presently 31.88%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director David P. Heintzman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $73.08, for a total value of $730,800.00. Following the sale, the director now directly owns 87,070 shares of the company’s stock, valued at approximately $6,363,075.60. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rehm sold 2,650 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at $1,266,308.87. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,614 shares of company stock worth $1,687,926. Company insiders own 3.90% of the company’s stock.

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.