SG Americas Securities LLC Raises Stock Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

SG Americas Securities LLC increased its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 57.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,978 shares of the bank’s stock after purchasing an additional 3,649 shares during the period. SG Americas Securities LLC’s holdings in Stock Yards Bancorp were worth $689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in Stock Yards Bancorp by 164.5% in the fourth quarter. Covestor Ltd now owns 373 shares of the bank’s stock worth $27,000 after purchasing an additional 232 shares during the period. Jones Financial Companies Lllp grew its stake in Stock Yards Bancorp by 1,077.5% in the fourth quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock worth $34,000 after purchasing an additional 431 shares during the period. Principal Securities Inc. grew its stake in Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after purchasing an additional 260 shares during the period. Sterling Capital Management LLC grew its stake in Stock Yards Bancorp by 806.7% in the fourth quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock worth $58,000 after purchasing an additional 718 shares during the period. Finally, Allworth Financial LP grew its stake in Stock Yards Bancorp by 126.2% in the fourth quarter. Allworth Financial LP now owns 846 shares of the bank’s stock worth $63,000 after purchasing an additional 472 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director David P. Heintzman sold 3,419 shares of the company’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $74.71, for a total transaction of $255,433.49. Following the transaction, the director now directly owns 83,651 shares of the company’s stock, valued at $6,249,566.21. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Croce sold 4,100 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $77.06, for a total value of $315,946.00. Following the transaction, the executive vice president now directly owns 24,600 shares in the company, valued at approximately $1,895,676. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,100 shares of company stock valued at $1,077,373 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Stock Yards Bancorp Trading Up 0.1%

NASDAQ SYBT opened at $74.14 on Friday. Stock Yards Bancorp, Inc. has a 12 month low of $46.70 and a 12 month high of $79.85. The stock has a market cap of $2.18 billion, a P/E ratio of 17.91 and a beta of 0.72. The stock’s fifty day moving average price is $73.74 and its 200-day moving average price is $72.47. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.34.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly 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. The firm had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a return on equity of 13.02% and a net margin of 23.34%. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 1.67%. The ex-dividend date is Monday, June 16th. Stock Yards Bancorp’s payout ratio is currently 29.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SYBT shares. Stephens upped their price target on Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating 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 note on Thursday, April 24th. Wall Street Zen cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods cut their target price on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, Stock Yards Bancorp currently has an average rating of “Hold” and a consensus price target of $77.25.

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.