Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,175 shares of the bank’s stock after selling 1,000 shares during the period. OLD National Bancorp IN’s holdings in Stock Yards Bancorp were worth $227,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Squarepoint Ops LLC boosted its stake in shares of Stock Yards Bancorp by 11.3% in the second quarter. Squarepoint Ops LLC now owns 23,568 shares of the bank’s stock valued at $1,171,000 after purchasing an additional 2,389 shares during the period. Creative Planning boosted its stake in shares of Stock Yards Bancorp by 534.3% in the second quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after purchasing an additional 36,269 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Stock Yards Bancorp by 10.3% in the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock valued at $263,000 after purchasing an additional 494 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Stock Yards Bancorp in the second quarter valued at approximately $45,000. Finally, Barlow Wealth Partners Inc. boosted its stake in shares of Stock Yards Bancorp by 1.7% in the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock valued at $3,805,000 after purchasing an additional 1,069 shares during the period. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 3,000 shares of Stock Yards Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total value of $223,770.00. Following the transaction, the director now directly owns 30,150 shares of the company’s stock, valued at $2,248,888.50. The trade was a 9.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction on 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 in the company, valued at $1,266,308.87. The trade was a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,614 shares of company stock worth $1,687,926. 3.90% of the stock is currently owned by insiders.

Stock Yards Bancorp Stock Down 0.9 %

Shares of Stock Yards Bancorp stock opened at $73.71 on Monday. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $79.79. The company has a 50 day moving average of $73.92 and a 200 day moving average of $66.55. The company has a quick ratio of 0.94, a current 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.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) 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 period in the prior year, the company earned $0.82 earnings per share. As a group, research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

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

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.