Wealth Enhancement Advisory Services LLC Has $528,000 Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,640 shares of the bank’s stock after selling 157 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Stock Yards Bancorp were worth $528,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Stock Yards Bancorp during the fourth quarter worth approximately $5,761,000. Adage Capital Partners GP L.L.C. purchased a new stake in Stock Yards Bancorp in the 4th quarter worth approximately $4,891,000. Clark Capital Management Group Inc. purchased a new stake in Stock Yards Bancorp in the 4th quarter worth approximately $4,106,000. Aptus Capital Advisors LLC boosted its stake in shares of Stock Yards Bancorp by 38.0% during the 4th 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 grew 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 valued at $19,642,000 after acquiring an additional 31,529 shares in the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David P. Heintzman sold 1,581 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $74.00, for a total transaction of $116,994.00. Following the transaction, the director directly owned 82,070 shares in the company, valued at $6,073,180. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura L. Wells sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total transaction of $312,000.00. Following the transaction, the director owned 14,954 shares in the company, valued at approximately $1,166,412. The trade was a 21.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,902 shares of company stock worth $1,296,210 in the last three months. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

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

Stock Yards Bancorp Trading Up 1.7%

SYBT stock opened at $83.10 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.34. Stock Yards Bancorp, Inc. has a twelve month low of $47.96 and a twelve month high of $83.55. The company has a market cap of $2.45 billion, a P/E ratio of 20.07 and a beta of 0.72. The business has a fifty day moving average of $75.69 and a 200-day moving average of $72.62.

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 analysts’ consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 13.02% and a net margin of 23.34%. The company had revenue of $93.63 million during the quarter, compared to analysts’ expectations of $92.90 million. During the same period in the prior year, the business posted $0.88 EPS. As a group, equities research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, June 16th. Stock Yards Bancorp’s payout ratio is 29.95%.

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.