UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.34 Million Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 14.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,786 shares of the bank’s stock after selling 6,382 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of Stock Yards Bancorp worth $2,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of Stock Yards Bancorp by 437.8% in the second quarter. SG Americas Securities LLC now owns 12,138 shares of the bank’s stock valued at $603,000 after buying an additional 9,881 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Stock Yards Bancorp by 19.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,409 shares of the bank’s stock valued at $418,000 after acquiring an additional 1,343 shares in the last quarter. RPS Advisory Solutions LLC bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter valued at $1,358,000. Independence Bank of Kentucky grew its holdings in shares of Stock Yards Bancorp by 1.4% during the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after purchasing an additional 202 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Stock Yards Bancorp by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 152,229 shares of the bank’s stock worth $7,561,000 after purchasing an additional 8,777 shares during the period. Institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SYBT shares. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Piper Sandler upped their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $67.00 to $68.00 in a research note on Thursday, October 24th.

Insiders Place Their Bets

In other Stock Yards Bancorp news, President Philip Poindexter sold 3,419 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares in the company, valued at approximately $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David P. Heintzman sold 3,500 shares of Stock Yards Bancorp stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.10, for a total value of $273,350.00. Following the sale, the director now directly owns 21,411 shares in the company, valued at $1,672,199.10. The trade was a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,269 shares of company stock valued at $2,514,725. 3.90% of the stock is currently owned by insiders.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $77.62 on Friday. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $70.88 and its 200 day simple moving average is $60.60. The firm has a market capitalization of $2.28 billion, a PE ratio of 21.32 and a beta of 0.85.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $130.52 million for the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. On average, analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.31 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.60%. Stock Yards Bancorp’s dividend payout ratio is currently 34.07%.

Stock Yards Bancorp 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.