Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.7% in the fourth quarter, Holdings Channel reports. The fund owned 8,775 shares of the bank’s stock after buying an additional 314 shares during the quarter. Raymond James & Associates’ holdings in Stock Yards Bancorp were worth $452,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in Stock Yards Bancorp by 1.2% in the 3rd quarter. Swiss National Bank now owns 61,323 shares of the bank’s stock worth $2,409,000 after buying an additional 700 shares in the last quarter. Baldwin Brothers LLC MA boosted its holdings in Stock Yards Bancorp by 6.2% in the fourth quarter. Baldwin Brothers LLC MA now owns 12,030 shares of the bank’s stock valued at $619,000 after purchasing an additional 700 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Stock Yards Bancorp by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 163,058 shares of the bank’s stock valued at $6,407,000 after purchasing an additional 984 shares in the last quarter. Covestor Ltd increased its holdings in Stock Yards Bancorp by 58.2% during the 3rd quarter. Covestor Ltd now owns 3,384 shares of the bank’s stock worth $133,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of Stock Yards Bancorp by 31.1% in the 4th quarter. Diversified Trust Co now owns 7,380 shares of the bank’s stock valued at $380,000 after purchasing an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYBT. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday. Piper Sandler began coverage on shares of Stock Yards Bancorp in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Hovde Group assumed coverage on Stock Yards Bancorp in a research note on Monday, March 4th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.00.

Stock Yards Bancorp Stock Down 0.1 %

Shares of NASDAQ:SYBT opened at $46.15 on Friday. Stock Yards Bancorp, Inc. has a 1-year low of $36.93 and a 1-year high of $53.15. The company’s fifty day moving average is $45.66 and its two-hundred day moving average is $46.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 12.97 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, January 24th. The bank reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). The company had revenue of $119.66 million during the quarter, compared to analyst estimates of $82.60 million. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.70%. Equities analysts anticipate that Stock Yards Bancorp, Inc. will post 3.4 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is presently 33.71%.

Stock Yards Bancorp Company 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.