Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 5.3% during the 4th quarter, Holdings Channel reports. The fund owned 15,043 shares of the bank’s stock after selling 846 shares during the quarter. Independence Bank of Kentucky’s holdings in Stock Yards Bancorp were worth $1,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp in the 2nd quarter valued at about $45,000. Quantbot Technologies LP raised its holdings in Stock Yards Bancorp by 151.2% in the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after acquiring an additional 1,367 shares in the last quarter. FMR LLC lifted its stake in Stock Yards Bancorp by 7.5% in the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after acquiring an additional 167 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Finally, Independent Solutions Wealth Management LLC purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at approximately $207,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Price Performance

SYBT stock opened at $73.71 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.17 billion, a P/E ratio of 18.95 and a beta of 0.86. The business has a 50 day simple moving average of $73.92 and a 200-day simple moving average of $66.42. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 31.88%.

Wall Street Analyst Weigh In

SYBT has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $76.00 in a report on Friday, November 15th.

Insider Buying and Selling at Stock Yards Bancorp

In related news, EVP Michael Rehm sold 2,650 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the completion of the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David P. Heintzman sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $73.08, for a total transaction of $730,800.00. Following the completion of the sale, the director now owns 87,070 shares of the company’s stock, valued at approximately $6,363,075.60. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,614 shares of company stock valued at $1,687,926 in the last ninety days. Insiders own 3.90% of the company’s stock.

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.