Citigroup Inc. Has $4.28 Million Stake in Stock Yards Bancorp, Inc. $SYBT

Citigroup Inc. lifted its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 60.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,128 shares of the bank’s stock after buying an additional 23,093 shares during the quarter. Citigroup Inc. owned about 0.21% of Stock Yards Bancorp worth $4,278,000 at the end of the most recent reporting period.

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

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $66.19 on Thursday. Stock Yards Bancorp, Inc. has a fifty-two week low of $60.75 and a fifty-two week high of $83.83. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 13.93 and a beta of 0.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $67.66 and its 200 day simple moving average is $69.56.

Stock Yards Bancorp (NASDAQ:SYBT) last issued 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. Stock Yards Bancorp had a return on equity of 13.68% and a net margin of 24.83%.The firm had revenue of $104.47 million during the quarter, compared to analyst estimates of $102.42 million. As a group, research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. Stock Yards Bancorp’s payout ratio is currently 26.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYBT. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Hovde Group raised their target price on Stock Yards Bancorp from $73.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company 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.