Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,775 shares of the bank’s stock after purchasing an additional 314 shares during the quarter. Raymond James & Associates’ holdings in Stock Yards Bancorp were worth $452,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in shares of Stock Yards Bancorp by 58.2% in the 3rd quarter. Covestor Ltd now owns 3,384 shares of the bank’s stock worth $133,000 after acquiring an additional 1,245 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Stock Yards Bancorp during the fourth quarter worth about $165,000. Joule Financial LLC purchased a new position in Stock Yards Bancorp during the fourth quarter worth about $239,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Stock Yards Bancorp by 35.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,958 shares of the bank’s stock valued at $273,000 after purchasing an additional 1,836 shares during the last quarter. Finally, Soltis Investment Advisors LLC acquired a new position in Stock Yards Bancorp in the 3rd quarter valued at about $275,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

SYBT has been the topic of several analyst reports. Piper Sandler began coverage on shares of Stock Yards Bancorp in a research report on Wednesday, March 6th. They set a “neutral” rating and a $52.00 price target on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 target price (up previously from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday. Finally, Hovde Group assumed coverage on Stock Yards Bancorp in a report on Monday, March 4th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Stock Yards Bancorp presently has an average rating of “Hold” and an average price target of $50.00.

Stock Yards Bancorp Stock Down 0.1 %

Stock Yards Bancorp stock opened at $46.15 on Friday. The company has a market capitalization of $1.36 billion, a PE ratio of 12.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. Stock Yards Bancorp, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $53.15. The firm has a 50 day moving average price of $45.66 and a 200 day moving average price of $46.18.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Stock Yards Bancorp had a return on equity of 12.70% and a net margin of 22.86%. The firm had revenue of $119.66 million for the quarter, compared to analysts’ expectations of $82.60 million. Research analysts expect that Stock Yards Bancorp, Inc. will post 3.4 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is currently 33.71%.

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.