Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,546 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 46.1% in the second quarter, HoldingsChannel.com reports. The fund owned 8,071 shares of the bank’s stock after purchasing an additional 2,546 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Stock Yards Bancorp were worth $401,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SYBT. Quadrant Capital Group LLC boosted its position in shares of Stock Yards Bancorp by 70.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock valued at $99,000 after acquiring an additional 799 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Stock Yards Bancorp during the 1st quarter valued at about $195,000. German American Bancorp Inc. bought a new stake in shares of Stock Yards Bancorp during the 4th quarter valued at about $230,000. ProShare Advisors LLC boosted its position in shares of Stock Yards Bancorp by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock valued at $239,000 after acquiring an additional 384 shares during the last quarter. Finally, Orleans Capital Management Corp LA bought a new stake in shares of Stock Yards Bancorp during the 1st quarter valued at about $357,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $57.67 on Friday. The business has a 50 day moving average price of $56.52 and a 200-day moving average price of $49.89. Stock Yards Bancorp, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $64.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $1.69 billion, a PE ratio of 16.20 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.10. The business had revenue of $123.96 million during the quarter, compared to analysts’ expectations of $83.90 million. Stock Yards Bancorp had a net margin of 21.99% and a return on equity of 12.18%. Equities research analysts predict that Stock Yards Bancorp, Inc. will post 3.66 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.31 dividend. The ex-dividend date is Monday, September 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.15%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.83%.

Wall Street Analyst Weigh In

SYBT has been the topic of a number of research reports. Stephens raised their price objective on Stock Yards Bancorp from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Hovde Group raised their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.50.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director Richard A. Lechleiter bought 650 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $56.40 per share, with a total value of $36,660.00. Following the completion of the purchase, the director now directly owns 5,680 shares of the company’s stock, valued at $320,352. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Stock Yards Bancorp news, Director Richard A. Lechleiter bought 650 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $56.40 per share, with a total value of $36,660.00. Following the completion of the purchase, the director now directly owns 5,680 shares of the company’s stock, valued at $320,352. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Heintzman sold 6,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $62.27, for a total value of $373,620.00. Following the completion of the sale, the director now directly owns 107,070 shares in the company, valued at $6,667,248.90. The disclosure for this sale can be found here. Insiders have sold 18,757 shares of company stock valued at $1,165,177 over the last ninety days. 3.90% of the stock is owned by insiders.

About Stock Yards Bancorp

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.