Guggenheim Capital LLC Acquires 1,897 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Guggenheim Capital LLC lifted its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 16.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,264 shares of the bank’s stock after purchasing an additional 1,897 shares during the period. Guggenheim Capital LLC’s holdings in Stock Yards Bancorp were worth $731,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SYBT. Morgan Stanley grew its holdings in shares of Stock Yards Bancorp by 239.8% during the fourth quarter. Morgan Stanley now owns 409,595 shares of the bank’s stock worth $26,616,000 after purchasing an additional 289,066 shares during the last quarter. Norges Bank bought a new position in Stock Yards Bancorp in the fourth quarter valued at about $11,178,000. Charles Schwab Investment Management Inc. boosted its holdings in Stock Yards Bancorp by 16.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 674,285 shares of the bank’s stock valued at $43,815,000 after acquiring an additional 93,822 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Stock Yards Bancorp by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,841,580 shares of the bank’s stock valued at $125,245,000 after acquiring an additional 64,896 shares during the last quarter. Finally, State Street Corp boosted its holdings in Stock Yards Bancorp by 12.9% in the second 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. Institutional investors own 52.65% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of SYBT opened at $45.42 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. Stock Yards Bancorp, Inc. has a 1 year low of $41.61 and a 1 year high of $78.71. The stock has a market cap of $1.33 billion, a P/E ratio of 11.62 and a beta of 0.70. The stock’s 50-day moving average price is $46.61 and its two-hundred day moving average price is $48.64.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). Stock Yards Bancorp had a return on equity of 14.82% and a net margin of 28.87%. The company had revenue of $84.16 million for the quarter, compared to the consensus estimate of $85.27 million. On average, equities analysts predict that Stock Yards Bancorp, Inc. will post 3.73 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.64%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.29. Stock Yards Bancorp’s dividend payout ratio (DPR) is 29.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Stock Yards Bancorp in a report on Thursday, August 17th. They issued a “sell” rating on the 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 mortgage banking and deposit services; retail, commercial, and commercial real estate lending services; and online banking, mobile banking, private banking, leasing, treasury management, merchant, international banking, correspondent banking, and other banking services.