Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by Firethorn Wealth Partners LLC

Firethorn Wealth Partners LLC trimmed its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,497 shares of the bank’s stock after selling 985 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Stock Yards Bancorp were worth $899,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Stock Yards Bancorp by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock worth $91,998,000 after acquiring an additional 33,906 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter worth approximately $863,000. Dimensional Fund Advisors LP increased its holdings in shares of Stock Yards Bancorp by 2.7% during the 2nd 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. American Century Companies Inc. lifted its stake in shares of Stock Yards Bancorp by 163.4% in the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after purchasing an additional 88,364 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in 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 worth $57,139,000 after buying an additional 50,730 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the sale, the director now owns 29,786 shares in the company, valued at approximately $1,878,603.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David P. Heintzman sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the sale, the director now directly owns 29,786 shares in the company, valued at $1,878,603.02. This 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 available at this link. Also, EVP William Dishman sold 2,204 shares of Stock Yards Bancorp stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total value of $137,331.24. Following the transaction, the executive vice president now owns 34,444 shares in the company, valued at approximately $2,146,205.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,457 shares of company stock worth $1,335,466. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYBT shares. Stephens upped their price objective on shares of Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Piper Sandler restated a “neutral” rating and issued a $65.50 price objective on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. Finally, Hovde Group increased their target price on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $66.15 on Thursday. The stock has a 50 day moving average of $59.48 and a two-hundred day moving average of $52.86. Stock Yards Bancorp, Inc. has a 12 month low of $36.93 and a 12 month high of $67.12. The firm has a market cap of $1.95 billion, a P/E ratio of 18.58 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. The firm had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. On average, analysts expect that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a $0.31 dividend. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Monday, September 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.83%.

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.