Sigma Planning Corp Sells 1,000 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Sigma Planning Corp reduced its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 22.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,455 shares of the bank’s stock after selling 1,000 shares during the period. Sigma Planning Corp’s holdings in Stock Yards Bancorp were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SYBT. Stock Yards Bank & Trust Co. raised its holdings in Stock Yards Bancorp by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank’s stock worth $60,755,000 after acquiring an additional 9,573 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Stock Yards Bancorp by 4.5% during the first quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock valued at $57,139,000 after purchasing an additional 50,730 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Stock Yards Bancorp by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock valued at $46,536,000 after purchasing an additional 24,856 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Stock Yards Bancorp by 17.3% during the second quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock valued at $9,542,000 after buying an additional 28,400 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Stock Yards Bancorp by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 152,229 shares of the bank’s stock worth $7,561,000 after buying an additional 8,777 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $70.00 to $76.00 in a report on Friday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 target price (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Piper Sandler increased their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Stock Yards Bancorp currently has a consensus rating of “Hold” and a consensus price target of $69.25.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $74.59, for a total transaction of $223,770.00. Following the sale, the director now directly owns 30,150 shares of the company’s stock, valued at $2,248,888.50. This trade represents a 9.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 15,700 shares of company stock valued at $1,054,023. 3.90% of the stock is owned by corporate insiders.

Stock Yards Bancorp Stock Down 1.6 %

Shares of SYBT stock opened at $73.25 on Monday. The company has a 50 day simple moving average of $64.52 and a two-hundred day simple moving average of $56.62. The stock has a market cap of $2.15 billion, a P/E ratio of 20.12 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $77.82. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $87.57 million. On average, research analysts expect that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 16th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. Stock Yards Bancorp’s payout ratio is 34.07%.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.