Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stake Decreased by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 36.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,692 shares of the bank’s stock after selling 2,144 shares during the quarter. Farther Finance Advisors LLC’s holdings in Stock Yards Bancorp were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in Stock Yards Bancorp by 21.5% during the first quarter. BNP Paribas Financial Markets now owns 24,531 shares of the bank’s stock worth $1,200,000 after purchasing an additional 4,342 shares in the last quarter. Quantbot Technologies LP bought a new stake in Stock Yards Bancorp during the first quarter worth approximately $195,000. Russell Investments Group Ltd. raised its holdings in Stock Yards Bancorp by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 150,403 shares of the bank’s stock worth $7,356,000 after purchasing an additional 5,786 shares in the last quarter. ProShare Advisors LLC raised its holdings in Stock Yards Bancorp by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Stock Yards Bancorp by 85.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the bank’s stock worth $701,000 after purchasing an additional 6,590 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

NASDAQ SYBT opened at $73.62 on Friday. The stock has a market capitalization of $2.17 billion, a P/E ratio of 20.23 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $76.37. The business’s fifty day moving average is $62.94 and its two-hundred day moving average is $55.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.92 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $87.57 million. On average, research analysts forecast that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.68%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, September 16th. Stock Yards Bancorp’s payout ratio is presently 34.07%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,700 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total transaction of $170,289.00. Following the transaction, the director now directly owns 29,786 shares in the company, valued at approximately $1,878,603.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director David P. Heintzman sold 7,659 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $65.98, for a total transaction of $505,340.82. Following the transaction, the director now directly owns 99,411 shares in the company, valued at $6,559,137.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Heintzman sold 2,700 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were 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 in the company, valued at approximately $1,878,603.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,700 shares of company stock worth $1,054,023. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SYBT shares. Stephens boosted their target price on Stock Yards Bancorp from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler upped 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Finally, Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.75.

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.