Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by Invesco Ltd.

Invesco Ltd. lifted its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,360 shares of the bank’s stock after purchasing an additional 4,489 shares during the period. Invesco Ltd. owned about 0.17% of Stock Yards Bancorp worth $3,606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Firethorn Wealth Partners LLC grew its position in shares of Stock Yards Bancorp by 0.9% during the fourth quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank’s stock worth $1,048,000 after buying an additional 136 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Stock Yards Bancorp by 0.6% during the 4th quarter. Corient Private Wealth LLC now owns 25,140 shares of the bank’s stock worth $1,800,000 after purchasing an additional 152 shares during the period. Cerity Partners LLC increased its position in Stock Yards Bancorp by 0.9% in the fourth quarter. Cerity Partners LLC now owns 18,713 shares of the bank’s stock worth $1,339,000 after buying an additional 160 shares during the period. Thoroughbred Financial Services LLC increased its holdings in shares of Stock Yards Bancorp by 0.9% in the 4th quarter. Thoroughbred Financial Services LLC now owns 23,771 shares of the bank’s stock worth $1,702,000 after acquiring an additional 215 shares during the period. Finally, Principal Securities Inc. raised its holdings in shares of Stock Yards Bancorp by 115.6% during the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock valued at $35,000 after buying an additional 260 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Performance

Shares of SYBT opened at $74.67 on Monday. The company’s 50 day moving average price is $69.13 and its 200 day moving average price is $71.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. Stock Yards Bancorp, Inc. has a 52 week low of $44.32 and a 52 week high of $79.79. The company has a market capitalization of $2.20 billion, a PE ratio of 19.20 and a beta of 0.77.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The business had revenue of $93.63 million during the quarter, compared to analysts’ expectations of $92.90 million. During the same quarter in the previous year, the business posted $0.88 EPS. Research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.66%. Stock Yards Bancorp’s payout ratio is currently 29.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYBT. Stephens boosted their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday. Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the company a “neutral” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research report on Thursday.

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.