Dimensional Fund Advisors LP Buys 24,856 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Dimensional Fund Advisors LP increased its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 936,919 shares of the bank’s stock after buying an additional 24,856 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Stock Yards Bancorp were worth $46,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thoroughbred Financial Services LLC acquired a new stake in Stock Yards Bancorp during the 2nd quarter valued at $1,154,000. American Century Companies Inc. increased its stake in shares of Stock Yards Bancorp by 163.4% in the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after buying an additional 88,364 shares during the period. Rhumbline Advisers increased its stake in shares of Stock Yards Bancorp by 10.6% in the 2nd quarter. Rhumbline Advisers now owns 43,766 shares of the bank’s stock valued at $2,174,000 after buying an additional 4,207 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Stock Yards Bancorp by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 77,487 shares of the bank’s stock valued at $3,849,000 after buying an additional 15,375 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Stock Yards Bancorp by 94.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,836 shares of the bank’s stock valued at $287,000 after buying an additional 2,833 shares during the period. Institutional investors own 56.46% of the company’s stock.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the transaction, the director now owns 29,786 shares of the company’s stock, valued at $1,878,603.02. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP William Dishman sold 2,204 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $62.31, for a total value of $137,331.24. Following the transaction, the executive vice president now owns 34,444 shares of the company’s stock, valued at $2,146,205.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Heintzman sold 2,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the transaction, the director now directly owns 29,786 shares in the company, valued at approximately $1,878,603.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,457 shares of company stock valued at $1,335,466. 3.90% of the stock is owned by insiders.

Stock Yards Bancorp Stock Performance

SYBT stock opened at $60.95 on Monday. The firm has a market cap of $1.79 billion, a PE ratio of 17.12 and a beta of 0.82. The business’s 50-day moving average price is $59.19 and its two-hundred day moving average price is $51.54. Stock Yards Bancorp, Inc. has a 1-year low of $36.93 and a 1-year high of $65.00. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.48.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.10. The company had revenue of $123.96 million for the quarter, compared to analyst estimates of $83.90 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. As a group, research analysts forecast that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s payout ratio is currently 34.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYBT. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a research note on Thursday, July 25th. Hovde Group lifted their price objective on Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler reiterated a “neutral” rating and set a $65.50 target price on shares of Stock Yards Bancorp in a report on Tuesday, September 10th. Finally, Stephens lifted their target price on Stock Yards Bancorp from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.88.

Stock Yards Bancorp Profile

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.