Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 636,744 shares of the bank’s stock after acquiring an additional 5,391 shares during the period. Geode Capital Management LLC’s holdings in Stock Yards Bancorp were worth $39,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Stock Yards Bancorp in the 2nd quarter valued at about $45,000. Quantbot Technologies LP boosted its stake in Stock Yards Bancorp by 151.2% in the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after acquiring an additional 1,367 shares during the period. FMR LLC grew its holdings in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after purchasing an additional 167 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth approximately $206,000. Finally, Ballentine Partners LLC acquired a new position in Stock Yards Bancorp during the 3rd quarter valued at approximately $219,000. Institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SYBT. Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th.

Stock Yards Bancorp Stock Performance

SYBT stock opened at $72.46 on Wednesday. The company has a 50-day simple moving average of $72.50 and a 200 day simple moving average of $62.08. The company has a market capitalization of $2.13 billion, a P/E ratio of 19.91 and a beta of 0.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The company had revenue of $130.52 million during the quarter, compared to analyst estimates of $87.57 million. Sell-side analysts predict that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.07%.

Insider Transactions at Stock Yards Bancorp

In related news, President Philip Poindexter sold 3,419 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now directly owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Heintzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $73.08, for a total transaction of $730,800.00. Following the sale, the director now owns 87,070 shares of the company’s stock, valued at $6,363,075.60. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,614 shares of company stock valued at $2,347,890. Corporate insiders own 3.90% of the company’s stock.

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.