12,376 Shares in Stock Yards Bancorp, Inc. $SYBT Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,376 shares of the bank’s stock, valued at approximately $947,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after buying an additional 35,592 shares during the period. Oxford Financial Group LTD. LLC acquired a new position in Stock Yards Bancorp during the second quarter worth $11,063,000. Deprince Race & Zollo Inc. grew its holdings in Stock Yards Bancorp by 11.4% during the first quarter. Deprince Race & Zollo Inc. now owns 126,497 shares of the bank’s stock worth $8,385,000 after acquiring an additional 12,937 shares during the period. BlackRock Inc. purchased a new position in Stock Yards Bancorp in the second quarter worth $165,219,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Stock Yards Bancorp in the second quarter valued at $15,848,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Insider Activity

In other Stock Yards Bancorp news, Director Laura Wells sold 6,823 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $86.29, for a total value of $588,756.67. Following the sale, the director owned 9,580 shares of the company’s stock, valued at $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by company insiders.

Stock Yards Bancorp Trading Down 1.0%

Shares of SYBT stock opened at $79.49 on Friday. Stock Yards Bancorp, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $89.21. The stock has a market cap of $2.47 billion, a P/E ratio of 15.83 and a beta of 0.66. The business has a fifty day simple moving average of $81.05 and a 200-day simple moving average of $73.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, July 29th. The bank reported $1.31 EPS for the quarter, topping the consensus estimate of $1.08 by $0.23. The business had revenue of $114.71 million for the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. On average, analysts forecast that Stock Yards Bancorp, Inc. will post 5.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be given a dividend of $0.33 per share. The ex-dividend date is Monday, September 21st. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYBT. Stephens set a $87.00 price target on shares of Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $82.00 to $90.00 in a report on Thursday, July 30th. 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 research report on Friday, June 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.