American Trust lessened its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,355 shares of the bank’s stock after selling 2,000 shares during the quarter. American Trust’s holdings in Stock Yards Bancorp were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Champlain Investment Partners LLC boosted its stake in Stock Yards Bancorp by 429.6% during the first quarter. Champlain Investment Partners LLC now owns 247,443 shares of the bank’s stock worth $13,644,000 after acquiring an additional 200,720 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in Stock Yards Bancorp by 13.3% during the first quarter. Aptus Capital Advisors LLC now owns 62,191 shares of the bank’s stock worth $3,429,000 after acquiring an additional 7,302 shares in the last quarter. Formidable Asset Management LLC boosted its stake in Stock Yards Bancorp by 0.6% during the first quarter. Formidable Asset Management LLC now owns 59,443 shares of the bank’s stock worth $3,243,000 after acquiring an additional 379 shares in the last quarter. CenterBook Partners LP bought a new stake in Stock Yards Bancorp during the fourth quarter worth about $431,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Stock Yards Bancorp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,981 shares of the bank’s stock worth $50,034,000 after buying an additional 7,575 shares in the last quarter. Hedge funds and other institutional investors own 52.65% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on shares of Stock Yards Bancorp in a report on Thursday, August 17th. They set a “sell” rating for the company.
Stock Yards Bancorp Stock Up 5.2 %
Shares of SYBT stock opened at $44.59 on Friday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.40 and a beta of 0.70. Stock Yards Bancorp, Inc. has a one year low of $41.61 and a one year high of $78.71. The company’s fifty day moving average price is $46.29 and its 200-day moving average price is $48.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.88.
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last posted its earnings results on Wednesday, July 26th. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.02). The company had revenue of $84.16 million for the quarter, compared to analysts’ expectations of $85.27 million. Stock Yards Bancorp had a net margin of 28.87% and a return on equity of 14.82%. Sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.73 EPS for the current fiscal year.
Stock Yards Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a $0.30 dividend. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, September 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 30.69%.
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.
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