Champlain Investment Partners LLC Trims Stock Position in Stock Yards Bancorp, Inc. $SYBT

Champlain Investment Partners LLC trimmed its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 10.2% during the third quarter, Holdings Channel reports. The institutional investor owned 661,788 shares of the bank’s stock after selling 74,832 shares during the period. Champlain Investment Partners LLC’s holdings in Stock Yards Bancorp were worth $46,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SYBT. Rafferty Asset Management LLC lifted its holdings in shares of Stock Yards Bancorp by 44.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 22,222 shares of the bank’s stock worth $1,555,000 after acquiring an additional 6,791 shares during the period. Huntington National Bank grew its holdings in Stock Yards Bancorp by 15.0% in the third quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after purchasing an additional 163 shares during the period. Intech Investment Management LLC increased its position in Stock Yards Bancorp by 9.5% during the third quarter. Intech Investment Management LLC now owns 12,669 shares of the bank’s stock worth $887,000 after purchasing an additional 1,097 shares during the last quarter. Semanteon Capital Management LP purchased a new position in Stock Yards Bancorp during the third quarter worth approximately $569,000. Finally, Citigroup Inc. boosted its holdings in shares of Stock Yards Bancorp by 60.7% in the 3rd quarter. Citigroup Inc. now owns 61,128 shares of the bank’s stock valued at $4,278,000 after purchasing an additional 23,093 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock opened at $64.57 on Wednesday. The firm has a market capitalization of $1.90 billion, a PE ratio of 13.59 and a beta of 0.71. Stock Yards Bancorp, Inc. has a one year low of $60.75 and a one year high of $83.83. The stock’s 50 day moving average price is $67.68 and its 200 day moving average price is $69.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. The company had revenue of $104.47 million for the quarter, compared to analyst estimates of $102.42 million. As a group, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.95%.

Analysts Set New Price Targets

A number of research firms have recently commented on SYBT. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Piper Sandler restated a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Hovde Group raised their price objective on Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus target price of $79.00.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.