Russell Investments Group Ltd. Purchases 3,535 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Russell Investments Group Ltd. increased its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.5% in the fourth quarter, HoldingsChannel reports. The firm owned 144,617 shares of the bank’s stock after purchasing an additional 3,535 shares during the period. Russell Investments Group Ltd.’s holdings in Stock Yards Bancorp were worth $7,446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its holdings in shares of Stock Yards Bancorp by 30.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 128,462 shares of the bank’s stock worth $6,615,000 after buying an additional 30,316 shares in the last quarter. Mariner LLC acquired a new position in Stock Yards Bancorp in the third quarter worth $1,048,000. UBS Group AG grew its holdings in shares of Stock Yards Bancorp by 70.4% during the third quarter. UBS Group AG now owns 51,213 shares of the bank’s stock worth $2,012,000 after purchasing an additional 21,153 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Stock Yards Bancorp by 145.2% in 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. Finally, Independence Bank of Kentucky bought a new position in shares of Stock Yards Bancorp in the fourth quarter valued at about $544,000. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Stock Down 0.3 %

Shares of NASDAQ:SYBT opened at $46.64 on Wednesday. The company has a 50 day moving average of $45.60 and a 200-day moving average of $46.60. Stock Yards Bancorp, Inc. has a one year low of $36.93 and a one year high of $53.15. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 13.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s payout ratio is 33.71%.

Analyst Ratings Changes

A number of equities research analysts have commented on SYBT shares. Piper Sandler began coverage on shares of Stock Yards Bancorp in a report on Wednesday, March 6th. They set a “neutral” rating and a $52.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a report on Thursday, April 25th. Finally, Hovde Group started coverage on Stock Yards Bancorp in a report on Monday, March 4th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Stock Yards Bancorp has a consensus rating of “Hold” and a consensus target price of $50.00.

Insider Activity

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $47.05, for a total value of $141,150.00. Following the transaction, the director now owns 113,070 shares of the company’s stock, valued at $5,319,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.90% of the stock is currently 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 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.