MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 499 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,567 shares of the bank’s stock after acquiring an additional 499 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Stock Yards Bancorp were worth $1,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of 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 purchasing an additional 586,550 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Stock Yards Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 965,396 shares of the bank’s stock valued at $69,133,000 after buying an additional 24,011 shares during the period. American Century Companies Inc. raised its stake in shares of Stock Yards Bancorp by 2.1% in the 4th quarter. American Century Companies Inc. now owns 277,561 shares of the bank’s stock valued at $19,876,000 after buying an additional 5,661 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Stock Yards Bancorp by 13.0% during the 4th quarter. Northern Trust Corp now owns 274,295 shares of the bank’s stock worth $19,642,000 after acquiring an additional 31,529 shares during the period. Finally, Curi RMB Capital LLC boosted its position in shares of Stock Yards Bancorp by 1.1% during the 4th quarter. Curi RMB Capital LLC now owns 253,020 shares of the bank’s stock valued at $18,119,000 after acquiring an additional 2,651 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $73.40 on Monday. Stock Yards Bancorp, Inc. has a 1-year low of $44.36 and a 1-year high of $79.85. The company has a 50 day moving average of $70.87 and a 200-day moving average of $72.57. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 18.87 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.13. The business had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the prior year, the company earned $0.88 EPS. On average, equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, June 16th. Stock Yards Bancorp’s dividend payout ratio is currently 29.95%.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director Laura L. Wells sold 1,000 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $77,000.00. Following the transaction, the director now owns 18,954 shares of the company’s stock, valued at approximately $1,459,458. This represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Heintzman sold 3,419 shares of the stock in a transaction 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 in the company, valued at $6,249,566.21. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,000 shares of company stock worth $449,427. 3.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SYBT. Keefe, Bruyette & Woods cut their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Stephens boosted their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of “Hold” and an average target price of $77.25.

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.