Raymond James Financial Services Advisors Inc. Trims Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 20.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,592 shares of the bank’s stock after selling 1,203 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Stock Yards Bancorp were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mariner LLC acquired a new position in Stock Yards Bancorp during the 3rd quarter worth $1,048,000. Soltis Investment Advisors LLC acquired a new position in Stock Yards Bancorp in the third quarter worth about $275,000. UBS Group AG increased its holdings in Stock Yards Bancorp by 70.4% in the third quarter. UBS Group AG now owns 51,213 shares of the bank’s stock valued at $2,012,000 after buying an additional 21,153 shares during the last quarter. Diversified Trust Co increased its holdings in Stock Yards Bancorp by 31.1% in the fourth quarter. Diversified Trust Co now owns 7,380 shares of the bank’s stock valued at $380,000 after buying an additional 1,750 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in Stock Yards Bancorp by 145.2% during the third quarter. Trexquant Investment LP now owns 24,251 shares of the bank’s stock valued at $953,000 after buying an additional 14,360 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

SYBT has been the subject of several research reports. Piper Sandler started coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 target price for the company. Hovde Group initiated coverage on shares of Stock Yards Bancorp in a report on Monday, March 4th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $48.00.

Stock Yards Bancorp Stock Performance

Shares of NASDAQ SYBT opened at $45.69 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $45.66 and its two-hundred day moving average price is $46.13. Stock Yards Bancorp, Inc. has a 52-week low of $36.93 and a 52-week high of $53.15. The stock has a market capitalization of $1.34 billion, a P/E ratio of 12.44 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. The company had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. As a group, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 3.37 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s payout ratio is 32.70%.

About Stock Yards Bancorp

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.