Millennium Management LLC lifted its position in shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) by 5.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 172,377 shares of the bank’s stock after acquiring an additional 8,316 shares during the period. Millennium Management LLC owned 0.76% of Stock Yards Bancorp worth $6,576,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC grew its position in shares of Stock Yards Bancorp by 12.2% during the second quarter. Aperio Group LLC now owns 12,836 shares of the bank’s stock worth $490,000 after acquiring an additional 1,399 shares during the last quarter. Swiss National Bank grew its position in shares of Stock Yards Bancorp by 6.2% during the first quarter. Swiss National Bank now owns 37,523 shares of the bank’s stock worth $1,317,000 after acquiring an additional 2,200 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Stock Yards Bancorp by 5.3% during the first quarter. Wells Fargo & Company MN now owns 43,371 shares of the bank’s stock worth $1,523,000 after acquiring an additional 2,201 shares during the last quarter. Citigroup Inc. grew its position in Stock Yards Bancorp by 66.1% in the 1st quarter. Citigroup Inc. now owns 5,619 shares of the bank’s stock valued at $197,000 after buying an additional 2,236 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Stock Yards Bancorp by 44.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 8,618 shares of the bank’s stock valued at $303,000 after buying an additional 2,642 shares in the last quarter. Institutional investors and hedge funds own 47.55% of the company’s stock.
In related news, Director Paul J. Bickel III bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was purchased at an average price of $36.00 per share, for a total transaction of $36,000.00. Following the transaction, the director now directly owns 6,725 shares of the company’s stock, valued at approximately $242,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David P. Heintzman sold 2,571 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $38.90, for a total transaction of $100,011.90. Following the transaction, the chief executive officer now owns 170,552 shares of the company’s stock, valued at approximately $6,634,472.80. The disclosure for this sale can be found here. Insiders purchased a total of 2,765 shares of company stock valued at $102,006 in the last quarter. 8.42% of the stock is currently owned by insiders.
Shares of SYBT opened at $33.65 on Friday. The stock has a market capitalization of $825.73 million, a P/E ratio of 17.62 and a beta of 0.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91. Stock Yards Bancorp Inc has a 52-week low of $33.30 and a 52-week high of $41.90.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, July 25th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $40.11 million during the quarter, compared to analyst estimates of $39.04 million. Stock Yards Bancorp had a net margin of 26.61% and a return on equity of 14.66%. Equities research analysts expect that Stock Yards Bancorp Inc will post 2.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Friday, September 14th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.23. Stock Yards Bancorp’s dividend payout ratio is currently 52.36%.
SYBT has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 20th. ValuEngine lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Saturday, July 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Stock Yards Bancorp presently has an average rating of “Hold” and an average target price of $42.00.
Stock Yards Bancorp Profile
Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, certificates of deposit, money market deposits, and time deposits.
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