Creative Planning Grows Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Creative Planning raised its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,346 shares of the bank’s stock after acquiring an additional 3,289 shares during the period. Creative Planning’s holdings in Stock Yards Bancorp were worth $2,873,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Stock Yards Bancorp in the second quarter worth $45,000. Wesbanco Bank Inc. purchased a new position in Stock Yards Bancorp in the 3rd quarter worth about $206,000. Quantbot Technologies LP bought a new position in Stock Yards Bancorp during the 1st quarter valued at about $195,000. ProShare Advisors LLC boosted its holdings 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, Point72 Asset Management L.P. grew its stake in shares of Stock Yards Bancorp by 10.3% in the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after acquiring an additional 494 shares during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Richard A. Lechleiter bought 650 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $56.40 per share, with a total value of $36,660.00. Following the acquisition, the director now owns 5,680 shares of the company’s stock, valued at approximately $320,352. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Richard A. Lechleiter bought 650 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $56.40 per share, with a total value of $36,660.00. Following the acquisition, the director now owns 5,680 shares of the company’s stock, valued at approximately $320,352. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James A. Hillebrand sold 9,053 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $61.99, for a total transaction of $561,195.47. Following the completion of the transaction, the chief executive officer now directly owns 105,450 shares of the company’s stock, valued at $6,536,845.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,457 shares of company stock valued at $961,846. Company insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Stephens increased their price objective on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Piper Sandler lifted their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $67.00 to $68.00 in a report on Thursday. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.75.

Stock Yards Bancorp Trading Down 2.8 %

Shares of SYBT stock opened at $64.68 on Friday. Stock Yards Bancorp, Inc. has a 1 year low of $37.51 and a 1 year high of $67.12. The firm has a fifty day moving average price of $61.11 and a 200-day moving average price of $53.86. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 18.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a return on equity of 12.18% and a net margin of 21.99%. As a group, equities analysts predict that Stock Yards Bancorp, Inc. will post 3.69 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a $0.31 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.24 annualized dividend and a yield of 1.92%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio is currently 34.83%.

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.