Corient Private Wealth LP Makes New Investment in Stock Yards Bancorp, Inc. $SYBT

Corient Private Wealth LP purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the 2nd quarter, Holdings Channel reports. The firm purchased 13,698 shares of the bank’s stock, valued at approximately $1,047,000.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its stake in shares of Stock Yards Bancorp by 182.6% in the first quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock worth $3,652,000 after purchasing an additional 35,592 shares in the last quarter. Oxford Financial Group LTD. LLC bought a new stake in shares of Stock Yards Bancorp during the second quarter valued at about $11,063,000. Deprince Race & Zollo Inc. lifted its holdings in Stock Yards Bancorp by 11.4% in the first quarter. Deprince Race & Zollo Inc. now owns 126,497 shares of the bank’s stock worth $8,385,000 after purchasing an additional 12,937 shares during the period. BlackRock Inc. acquired a new stake in Stock Yards Bancorp in the second quarter worth about $165,219,000. Finally, NFJ Investment Group LLC bought a new position in Stock Yards Bancorp in the 2nd quarter valued at about $2,713,000. Institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

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

Stock Yards Bancorp Trading Down 1.0%

Stock Yards Bancorp stock opened at $79.49 on Friday. The company has a 50 day moving average price of $81.05 and a 200 day moving average price of $73.49. Stock Yards Bancorp, Inc. has a 52 week low of $61.51 and a 52 week high of $89.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 15.83 and a beta of 0.66.

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

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 21st will be issued a dividend of $0.33 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, September 21st. Stock Yards Bancorp’s dividend payout ratio is presently 25.50%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, Director Laura Wells sold 6,823 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the transaction, the director directly owned 9,580 shares of the company’s stock, valued at approximately $826,658.20. The trade was a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.