Healthcare of Ontario Pension Plan Trust Fund Sells 17,417 Shares of Stock Yards Bancorp, Inc. $SYBT

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 30.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,880 shares of the bank’s stock after selling 17,417 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of Stock Yards Bancorp worth $2,577,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Quarry LP bought a new position in Stock Yards Bancorp in the 3rd quarter worth approximately $28,000. Brown Brothers Harriman & Co. acquired a new position in Stock Yards Bancorp during the 3rd quarter worth $45,000. Empowered Funds LLC bought a new position in Stock Yards Bancorp in the 4th quarter valued at $60,000. Covestor Ltd boosted its position in Stock Yards Bancorp by 138.4% in the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after buying an additional 678 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Stock Yards Bancorp in the 1st quarter valued at $85,000. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Price Performance

Shares of SYBT stock opened at $85.10 on Friday. Stock Yards Bancorp, Inc. has a 52-week low of $61.51 and a 52-week high of $89.21. The stock has a market cap of $2.51 billion, a PE ratio of 16.95 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $76.44 and its two-hundred day moving average price is $71.11.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.08 by $0.23. The company had revenue of $114.67 million during the quarter, compared to analysts’ expectations of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.93%. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 5.06 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. Stock Yards Bancorp’s payout ratio is 25.50%.

Insider Activity at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the sale, the president owned 53,376 shares in the company, valued at approximately $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SYBT has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research report on Friday, July 10th. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $82.00 to $90.00 in a research report on Thursday. Finally, Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the stock an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.00.

Stock Yards Bancorp Company 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.