Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,525 shares of the bank’s stock after selling 1,433 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stock Yards Bancorp were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYBT. Covestor Ltd increased its holdings in shares of Stock Yards Bancorp by 58.2% in the third quarter. Covestor Ltd now owns 3,384 shares of the bank’s stock valued at $133,000 after purchasing an additional 1,245 shares during the period. SG Americas Securities LLC purchased a new position in Stock Yards Bancorp during the 4th quarter worth $165,000. Joule Financial LLC acquired a new stake in shares of Stock Yards Bancorp in the 4th quarter worth $239,000. TIAA Trust National Association purchased a new stake in shares of Stock Yards Bancorp in the fourth quarter valued at about $249,000. Finally, Soltis Investment Advisors LLC acquired a new position in shares of Stock Yards Bancorp during the third quarter worth about $275,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $46.97 on Monday. Stock Yards Bancorp, Inc. has a 12 month low of $36.93 and a 12 month high of $53.15. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.19 and a beta of 0.83. The business’s 50 day simple moving average is $45.55 and its 200-day simple moving average is $46.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is currently 33.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Hovde Group started coverage on Stock Yards Bancorp in a report on Monday, March 4th. They issued an “outperform” rating on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price target (up from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday, April 25th. Finally, Piper Sandler assumed coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.00.

Stock Yards Bancorp Company 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.