American Century Companies Inc. Reduces Position in Stock Yards Bancorp, Inc. $SYBT

American Century Companies Inc. lessened its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 17.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,628 shares of the bank’s stock after selling 49,043 shares during the quarter. American Century Companies Inc.’s holdings in Stock Yards Bancorp were worth $18,215,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Stock Yards Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 1,888,056 shares of the bank’s stock valued at $130,389,000 after purchasing an additional 24,564 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Stock Yards Bancorp by 4.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock valued at $88,289,000 after acquiring an additional 60,183 shares during the period. Curi RMB Capital LLC lifted its position in shares of Stock Yards Bancorp by 1.5% during the first quarter. Curi RMB Capital LLC now owns 256,715 shares of the bank’s stock worth $17,780,000 after acquiring an additional 3,695 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Stock Yards Bancorp by 1.0% in the first quarter. The Manufacturers Life Insurance Company now owns 224,850 shares of the bank’s stock worth $15,528,000 after acquiring an additional 2,253 shares during the period. Finally, Aptus Capital Advisors LLC grew its position in shares of Stock Yards Bancorp by 12.7% in the first quarter. Aptus Capital Advisors LLC now owns 147,768 shares of the bank’s stock valued at $10,205,000 after purchasing an additional 16,698 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David L. Hardy purchased 2,000 shares of the stock in a transaction on Thursday, November 6th. The stock was acquired at an average cost of $66.53 per share, with a total value of $133,060.00. Following the completion of the purchase, the director directly owned 2,000 shares of the company’s stock, valued at approximately $133,060. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SYBT has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Stock Yards Bancorp in a report on Monday. Wall Street Zen raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $66.11 on Wednesday. The business has a 50 day moving average of $67.35 and a 200 day moving average of $73.59. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.43 and a beta of 0.69. Stock Yards Bancorp, Inc. has a 1-year low of $60.75 and a 1-year high of $83.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $101.60 million for the quarter, compared to analysts’ expectations of $100.00 million. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.89%. On average, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 27.95%.

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.