Bank of America Corp DE Has $11.12 Million Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Bank of America Corp DE decreased its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,282 shares of the bank’s stock after selling 9,602 shares during the quarter. Bank of America Corp DE owned 0.53% of Stock Yards Bancorp worth $11,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SYBT. Victory Capital Management Inc. lifted its stake in Stock Yards Bancorp by 120.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank’s stock valued at $76,953,000 after buying an additional 586,550 shares during the period. Norges Bank acquired a new position in Stock Yards Bancorp in the fourth quarter valued at about $5,761,000. Adage Capital Partners GP L.L.C. acquired a new position in Stock Yards Bancorp in the fourth quarter valued at about $4,891,000. Aptus Capital Advisors LLC lifted its stake in Stock Yards Bancorp by 38.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 131,070 shares of the bank’s stock valued at $9,386,000 after buying an additional 36,114 shares during the period. Finally, Northern Trust Corp lifted its stake in Stock Yards Bancorp by 13.0% in the fourth quarter. Northern Trust Corp now owns 274,295 shares of the bank’s stock valued at $19,642,000 after buying an additional 31,529 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Trading Down 0.2%

NASDAQ SYBT opened at $73.40 on Friday. The firm has a market cap of $2.16 billion, a P/E ratio of 18.87 and a beta of 0.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50-day moving average is $70.87 and its 200-day moving average is $72.58. Stock Yards Bancorp, Inc. has a one year low of $44.36 and a one year high of $79.85.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $92.90 million. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, June 16th. Stock Yards Bancorp’s dividend payout ratio is presently 29.95%.

Analyst Ratings Changes

SYBT has been the topic of several analyst reports. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the company a “neutral” rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price target on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Wall Street Zen lowered Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Stephens raised 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, April 24th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.25.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director Laura L. Wells sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total value of $77,000.00. Following the completion of the transaction, the director now directly owns 18,954 shares in the company, valued at $1,459,458. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Heintzman sold 3,419 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $74.71, for a total value of $255,433.49. Following the completion of the transaction, the director now owns 83,651 shares of the company’s stock, valued at approximately $6,249,566.21. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,000 shares of company stock valued at $449,427. 3.40% of the stock is owned by insiders.

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.