Raymond James & Associates Has $389,000 Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Raymond James & Associates cut its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,566 shares of the bank’s stock after selling 730 shares during the quarter. Raymond James & Associates’ holdings in Stock Yards Bancorp were worth $389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYBT. Ensign Peak Advisors Inc bought a new stake in shares of Stock Yards Bancorp in the third quarter valued at approximately $87,000. FMR LLC grew its stake in Stock Yards Bancorp by 19.7% in the 2nd quarter. FMR LLC now owns 1,588 shares of the bank’s stock worth $95,000 after buying an additional 261 shares in the last quarter. Two Sigma Investments LP purchased a new position in Stock Yards Bancorp in the 4th quarter worth approximately $204,000. Diversified Trust Co purchased a new stake in shares of Stock Yards Bancorp in the 2nd quarter valued at $226,000. Finally, Millennium Management LLC purchased a new stake in shares of Stock Yards Bancorp in the 4th quarter valued at $230,000. 52.65% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Down 0.5 %

Shares of NASDAQ SYBT opened at $42.99 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Stock Yards Bancorp, Inc. has a 12 month low of $36.93 and a 12 month high of $76.42. The firm has a market capitalization of $1.26 billion, a PE ratio of 11.14 and a beta of 0.70. The firm has a fifty day simple moving average of $41.13 and a two-hundred day simple moving average of $44.30.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.79%. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, September 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 31.09%.

Wall Street Analysts Forecast Growth

SYBT has been the subject of a number of research reports. TheStreet cut shares of Stock Yards Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, September 19th. StockNews.com started coverage on shares of Stock Yards Bancorp in a report on Thursday, October 5th. They issued a “sell” rating for the company. Finally, Stephens decreased their price objective on shares of Stock Yards Bancorp from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and an average price target of $60.67.

Insider Buying and Selling

In related news, Director David P. Heintzman sold 2,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $43.95, for a total value of $87,900.00. Following the completion of the transaction, the director now directly owns 68,118 shares in the company, valued at approximately $2,993,786.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by company insiders.

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.