Envestnet Asset Management Inc. Has $7.25 Million Stock Holdings in Stock Yards Bancorp, Inc. $SYBT

Envestnet Asset Management Inc. trimmed its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,606 shares of the bank’s stock after selling 13,084 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.35% of Stock Yards Bancorp worth $7,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank raised its stake in Stock Yards Bancorp by 1,405.6% in the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock valued at $86,000 after buying an additional 1,012 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $92,000. Archer Investment Corp bought a new stake in Stock Yards Bancorp in the 2nd quarter valued at $105,000. Sei Investments Co. bought a new stake in Stock Yards Bancorp in the 2nd quarter valued at $207,000. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in Stock Yards Bancorp during the 2nd quarter valued at $216,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Up 1.5%

NASDAQ SYBT opened at $69.33 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 14.60 and a beta of 0.72. The company has a 50 day moving average of $68.04 and a 200-day moving average of $70.08. Stock Yards Bancorp, Inc. has a 1-year low of $60.75 and a 1-year high of $83.83.

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

Analyst Upgrades and Downgrades

Several research firms have commented on SYBT. Hovde Group upped their price objective on shares of Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a report on Monday, December 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $76.00 target price (up previously from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.00.

About Stock Yards Bancorp

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.