Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Position Boosted by Credit Suisse AG

Credit Suisse AG increased its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Get Rating) by 31.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,225 shares of the bank’s stock after buying an additional 5,773 shares during the quarter. Credit Suisse AG owned about 0.08% of Stock Yards Bancorp worth $1,648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stock Yards Bank & Trust Co. lifted its position in Stock Yards Bancorp by 4.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 1,107,311 shares of the bank’s stock worth $75,308,000 after purchasing an additional 42,947 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Stock Yards Bancorp by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 762,406 shares of the bank’s stock valued at $51,852,000 after acquiring an additional 12,251 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Stock Yards Bancorp by 10.2% during the 1st quarter. Neuberger Berman Group LLC now owns 642,985 shares of the bank’s stock valued at $34,014,000 after acquiring an additional 59,436 shares during the last quarter. State Street Corp lifted its position in shares of Stock Yards Bancorp by 12.9% during the 2nd quarter. State Street Corp now owns 539,904 shares of the bank’s stock valued at $32,435,000 after acquiring an additional 61,701 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Stock Yards Bancorp by 7.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 449,919 shares of the bank’s stock valued at $23,801,000 after acquiring an additional 31,010 shares during the last quarter. 51.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director John Schutte bought 750 shares of the business’s stock in a transaction on Friday, January 27th. The shares were bought at an average cost of $58.00 per share, with a total value of $43,500.00. Following the purchase, the director now directly owns 80,975 shares in the company, valued at $4,696,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Shannon Bishop Arvin purchased 830 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were acquired at an average cost of $59.91 per share, with a total value of $49,725.30. Following the completion of the purchase, the director now owns 2,802 shares of the company’s stock, valued at approximately $167,867.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Schutte purchased 750 shares of the company’s stock in a transaction dated Friday, January 27th. The stock was bought at an average cost of $58.00 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the director now directly owns 80,975 shares of the company’s stock, valued at approximately $4,696,550. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of NASDAQ:SYBT opened at $57.66 on Wednesday. The company’s fifty day moving average is $60.89 and its two-hundred day moving average is $67.17. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Stock Yards Bancorp, Inc. has a 12-month low of $50.85 and a 12-month high of $78.71. The company has a market cap of $1.69 billion, a P/E ratio of 18.13 and a beta of 0.69.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, March 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 36.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler downgraded Stock Yards Bancorp from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $75.00 to $73.00 in a research report on Wednesday, December 14th. StockNews.com downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, November 25th.

Stock Yards Bancorp Company Profile

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Stock Yards Bancorp, Inc is a holding company, which engages in the provision of commercial and personal banking services. It operates through the following segments: Commercial Banking and Wealth Management and Trust. The Commercial Banking segment includes mortgage banking and investment products sales activity.