Stock Yards Bancorp, Inc. $SYBT Holdings Decreased by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. cut its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 52.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,670 shares of the bank’s stock after selling 11,898 shares during the quarter. Amica Mutual Insurance Co.’s holdings in Stock Yards Bancorp were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYBT. Huntington National Bank raised its holdings in shares of Stock Yards Bancorp by 1,405.6% during the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after purchasing an additional 1,012 shares during the period. State of Alaska Department of Revenue acquired a new stake in Stock Yards Bancorp during the third quarter worth about $92,000. Archer Investment Corp acquired a new stake in Stock Yards Bancorp during the second quarter worth about $105,000. Truist Financial Corp bought a new position in Stock Yards Bancorp in the second quarter worth about $207,000. Finally, Sei Investments Co. acquired a new position in Stock Yards Bancorp in the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Up 1.8%

SYBT stock opened at $69.73 on Monday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.68 and a beta of 0.72. The company has a 50-day moving average of $67.96 and a two-hundred day moving average of $70.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.99. Stock Yards Bancorp, Inc. has a 52-week low of $60.75 and a 52-week high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.91%. The company had revenue of $104.47 million for the quarter, compared to the consensus estimate of $102.42 million. As a group, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, December 15th. Stock Yards Bancorp’s dividend payout ratio is presently 26.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYBT. Piper Sandler reiterated a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Hovde Group boosted their price objective on Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Stock Yards Bancorp currently has a consensus rating of “Hold” and a consensus target price of $79.00.

Stock Yards Bancorp Company 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.