NFJ Investment Group LLC Invests $2.71 Million in Stock Yards Bancorp, Inc. $SYBT

NFJ Investment Group LLC bought a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 35,479 shares of the bank’s stock, valued at approximately $2,713,000.

A number of other hedge funds have also modified their holdings of SYBT. Oxford Financial Group LTD. LLC purchased a new position in shares of Stock Yards Bancorp in the second quarter worth about $11,063,000. Main Street Financial Solutions LLC purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at about $210,000. BlackRock Inc. acquired a new stake in Stock Yards Bancorp in the 2nd quarter valued at about $165,219,000. Deutsche Bank AG acquired a new stake in Stock Yards Bancorp in the 2nd quarter valued at about $2,217,000. Finally, Global Retirement Partners LLC purchased a new position in Stock Yards Bancorp in the 2nd quarter worth approximately $31,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYBT. Piper Sandler restated a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price target for the company from $82.00 to $90.00 in a report on Thursday, July 30th. Raymond James Financial began coverage on Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating on the stock. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $82.05 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 16.34 and a beta of 0.68. The company’s 50-day moving average is $79.76 and its two-hundred day moving average is $72.69. Stock Yards Bancorp, Inc. has a 1-year low of $61.51 and a 1-year high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.23. The business had revenue of $114.71 million during the quarter, compared to the consensus estimate of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. Analysts forecast that Stock Yards Bancorp, Inc. will post 5.14 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be given a $0.33 dividend. The ex-dividend date is Monday, September 21st. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 25.50%.

Insiders Place Their Bets

In related news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the transaction, the director directly owned 9,580 shares in the company, valued at approximately $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Stock Yards Bancorp Profile

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.