Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stock Position Lifted by Rosenthal Henry Capital Advisors Inc.

Rosenthal Henry Capital Advisors Inc. grew its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,095 shares of the bank’s stock after purchasing an additional 1,375 shares during the quarter. Stock Yards Bancorp comprises approximately 3.9% of Rosenthal Henry Capital Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Rosenthal Henry Capital Advisors Inc. owned about 0.21% of Stock Yards Bancorp worth $3,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYBT. Independence Bank of Kentucky increased its position in shares of Stock Yards Bancorp by 1.4% in the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock valued at $714,000 after acquiring an additional 202 shares during the period. Diversified Trust Co increased its holdings in shares of Stock Yards Bancorp by 2.3% in the second quarter. Diversified Trust Co now owns 10,141 shares of the bank’s stock valued at $504,000 after purchasing an additional 231 shares during the period. ProShare Advisors LLC raised its stake in shares of Stock Yards Bancorp by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Stock Yards Bancorp by 10.3% during the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after purchasing an additional 494 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Stock Yards Bancorp in the second quarter valued at approximately $45,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on SYBT. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Piper Sandler boosted their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Stephens boosted their price objective on Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and an average target price of $67.75.

Stock Yards Bancorp Stock Performance

SYBT stock traded up $0.03 during midday trading on Friday, hitting $64.51. 150,362 shares of the stock traded hands, compared to its average volume of 183,655. Stock Yards Bancorp, Inc. has a 1-year low of $39.37 and a 1-year high of $67.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day simple moving average is $61.90 and its 200-day simple moving average is $54.54. The firm has a market cap of $1.90 billion, a P/E ratio of 17.72 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The firm had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a return on equity of 12.20% and a net margin of 21.62%. On average, analysts expect that Stock Yards Bancorp, Inc. will post 3.74 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were given a dividend of $0.31 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.92%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 34.07%.

Insider Activity at Stock Yards Bancorp

In other news, Director Richard A. Lechleiter acquired 650 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $56.40 per share, for a total transaction of $36,660.00. Following the acquisition, the director now owns 5,680 shares in the company, valued at approximately $320,352. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David P. Heintzman sold 2,341 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the sale, the director now directly owns 97,070 shares in the company, valued at approximately $6,411,473.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Lechleiter bought 650 shares of Stock Yards Bancorp stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $56.40 per share, for a total transaction of $36,660.00. Following the completion of the purchase, the director now directly owns 5,680 shares of the company’s stock, valued at $320,352. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 12,700 shares of company stock valued at $830,253. 3.90% of the stock is owned by company insiders.

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.