Stock Yards Bancorp, Inc. $SYBT Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,258 shares of the bank’s stock after selling 4,374 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.74% of Stock Yards Bancorp worth $15,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Stock Yards Bancorp by 18.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank’s stock valued at $110,000 after purchasing an additional 234 shares during the last quarter. KBC Group NV acquired a new stake in Stock Yards Bancorp during the first quarter valued at approximately $114,000. Aquatic Capital Management LLC lifted its position in shares of Stock Yards Bancorp by 53.4% during the 4th quarter. Aquatic Capital Management LLC now owns 2,762 shares of the bank’s stock valued at $198,000 after acquiring an additional 962 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter valued at $223,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Stock Yards Bancorp during the 1st quarter valued at $296,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Laura L. Wells sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total transaction of $312,000.00. Following the completion of the sale, the director directly owned 14,954 shares of the company’s stock, valued at $1,166,412. This trade represents a 21.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Dishman sold 2,802 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total value of $218,836.20. Following the sale, the executive vice president directly owned 31,594 shares of the company’s stock, valued at $2,467,491.40. This trade represents a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,902 shares of company stock worth $846,782. Corporate insiders own 3.40% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of SYBT opened at $81.55 on Friday. The business’s 50-day moving average is $77.35 and its 200-day moving average is $73.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 18.75 and a beta of 0.74. Stock Yards Bancorp, Inc. has a fifty-two week low of $56.35 and a fifty-two week high of $83.67.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. The firm had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. Equities research analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.32 per share. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, September 15th. Stock Yards Bancorp’s dividend payout ratio is 28.51%.

Analyst Upgrades and Downgrades

SYBT has been the subject of a number of recent research reports. Wall Street Zen downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler boosted their price objective on Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Stock Yards Bancorp currently has a consensus rating of “Hold” and an average target price of $79.75.

Stock Yards Bancorp 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.