Principal Securities Inc. Has $35,000 Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Principal Securities Inc. raised its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 115.6% in the fourth quarter, Holdings Channel reports. The fund owned 485 shares of the bank’s stock after purchasing an additional 260 shares during the quarter. Principal Securities Inc.’s holdings in Stock Yards Bancorp were worth $35,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kentucky Trust Co acquired a new stake in Stock Yards Bancorp during the 4th quarter worth about $44,000. Quantbot Technologies LP increased its position in Stock Yards Bancorp by 151.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock valued at $141,000 after buying an additional 1,367 shares in the last quarter. FMR LLC raised its stake in Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after buying an additional 167 shares during the period. Independent Solutions Wealth Management LLC bought a new position in shares of Stock Yards Bancorp in the third quarter valued at $207,000. Finally, German American Bancorp Inc. bought a new stake in Stock Yards Bancorp during the 3rd quarter worth approximately $231,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Trading Up 2.3 %

Shares of SYBT stock opened at $72.86 on Friday. The business has a 50-day moving average price of $73.07 and a two-hundred day moving average price of $68.53. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.14 billion, a P/E ratio of 18.73 and a beta of 0.86.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter last year, the firm earned $0.82 earnings per share. Equities analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.31 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.70%. Stock Yards Bancorp’s dividend payout ratio is currently 31.88%.

Wall Street Analysts Forecast Growth

Separately, Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $76.00 in a research report on Friday, November 15th.

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.