American Century Companies Inc. Acquires 88,364 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

American Century Companies Inc. raised its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 163.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,455 shares of the bank’s stock after acquiring an additional 88,364 shares during the period. American Century Companies Inc. owned about 0.48% of Stock Yards Bancorp worth $7,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Stock Yards Bancorp during the 4th quarter valued at approximately $9,100,000. RMB Capital Management LLC grew its stake in shares of Stock Yards Bancorp by 49.7% during the fourth quarter. RMB Capital Management LLC now owns 223,236 shares of the bank’s stock worth $11,494,000 after buying an additional 74,132 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Stock Yards Bancorp by 4.5% during the first quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after buying an additional 50,730 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Stock Yards Bancorp by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 905,258 shares of the bank’s stock valued at $46,612,000 after acquiring an additional 35,851 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Stock Yards Bancorp by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,786,710 shares of the bank’s stock valued at $91,998,000 after acquiring an additional 33,906 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

SYBT has been the topic of several recent research reports. Hovde Group lifted their target price on shares of Stock Yards Bancorp from $53.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Stephens increased 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $65.50 price target on shares of Stock Yards Bancorp in a research report on Tuesday, September 10th. 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, Stock Yards Bancorp has an average rating of “Hold” and an average target price of $65.88.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $63.04 on Tuesday. The company has a market capitalization of $1.85 billion, a PE ratio of 17.71 and a beta of 0.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.48. Stock Yards Bancorp, Inc. has a twelve month low of $36.93 and a twelve month high of $65.00. The firm has a fifty day simple moving average of $58.83 and a 200 day simple moving average of $51.09.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.10. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. The firm had revenue of $123.96 million during the quarter, compared to analyst estimates of $83.90 million. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 3.69 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.97%. Stock Yards Bancorp’s payout ratio is 34.83%.

Insiders Place Their Bets

In other news, Director David P. Heintzman sold 2,700 shares of Stock Yards Bancorp stock in a transaction 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 sale, the director now owns 29,786 shares in the company, valued at approximately $1,878,603.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David P. Heintzman sold 2,700 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $63.07, for a total value of $170,289.00. Following the completion of the sale, the director now directly owns 29,786 shares in the company, valued at approximately $1,878,603.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 directly owns 34,444 shares in the company, valued at $2,146,205.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,457 shares of company stock worth $1,335,466. Corporate insiders own 3.90% of the company’s stock.

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.