Bessemer Group Inc. Sells 7,830 Shares of Stock Yards Bancorp, Inc. $SYBT

Bessemer Group Inc. trimmed its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 71.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,185 shares of the bank’s stock after selling 7,830 shares during the quarter. Bessemer Group Inc.’s holdings in Stock Yards Bancorp were worth $211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. raised its holdings in shares of Stock Yards Bancorp by 1.3% in the third quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock valued at $1,306,000 after purchasing an additional 237 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Stock Yards Bancorp by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock valued at $312,000 after buying an additional 310 shares during the last quarter. California State Teachers Retirement System boosted its position in Stock Yards Bancorp by 1.5% during the second quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock worth $2,031,000 after purchasing an additional 383 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Stock Yards Bancorp by 92.1% during the 4th quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock worth $54,000 after buying an additional 396 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Stock Yards Bancorp by 7.5% during the fourth quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock worth $370,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

SYBT opened at $81.80 on Monday. Stock Yards Bancorp, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $83.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day moving average is $74.98 and its 200 day moving average is $70.49. The firm has a market capitalization of $2.41 billion, a PE ratio of 16.83 and a beta of 0.68.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.6%. Stock Yards Bancorp’s payout ratio is 26.34%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYBT shares. Stephens boosted their price target on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Piper Sandler restated a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Wall Street Zen lowered Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Raymond James Financial assumed coverage on Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and a consensus price target of $76.75.

Insider Activity

In other news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.