Cerity Partners LLC Sells 413 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Cerity Partners LLC trimmed its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,553 shares of the bank’s stock after selling 413 shares during the quarter. Cerity Partners LLC’s holdings in Stock Yards Bancorp were worth $1,150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Independence Bank of Kentucky grew its holdings in Stock Yards Bancorp by 1.4% during the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock worth $714,000 after acquiring an additional 202 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Stock Yards Bancorp by 2.3% in the 2nd quarter. Diversified Trust Co now owns 10,141 shares of the bank’s stock valued at $504,000 after purchasing an additional 231 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Stock Yards Bancorp by 10.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock valued at $263,000 after purchasing an additional 494 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Stock Yards Bancorp in the 2nd quarter valued at $45,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Stock Yards Bancorp by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,341 shares of the bank’s stock valued at $1,142,000 after purchasing an additional 977 shares during the last quarter. 56.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director David P. Heintzman sold 7,659 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $65.98, for a total value of $505,340.82. Following the completion of the sale, the director now owns 99,411 shares in the company, valued at $6,559,137.78. This represents a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Philip Poindexter sold 3,419 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 owns 51,331 shares of the company’s stock, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,269 shares of company stock worth $2,514,725. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Stock Up 1.6 %

Stock Yards Bancorp stock opened at $78.62 on Thursday. 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 12-month low of $42.35 and a 12-month high of $79.79. The firm’s fifty day moving average is $68.44 and its 200 day moving average is $59.12. The company has a market capitalization of $2.31 billion, a PE ratio of 21.60 and a beta of 0.85.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $87.57 million. As a group, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 annualized dividend and a yield of 1.58%. Stock Yards Bancorp’s payout ratio is 34.07%.

Wall Street Analysts Forecast Growth

SYBT has been the topic of a number of analyst reports. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Piper Sandler upped their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus target price of $69.25.

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.