Envestnet Asset Management Inc. Sells 13,084 Shares of Stock Yards Bancorp, Inc. $SYBT

Envestnet Asset Management Inc. cut its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 11.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 103,606 shares of the bank’s stock after selling 13,084 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Stock Yards Bancorp were worth $7,251,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SYBT. Police & Firemen s Retirement System of New Jersey increased its stake in Stock Yards Bancorp by 6.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,869 shares of the bank’s stock valued at $464,000 after acquiring an additional 373 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Stock Yards Bancorp by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock valued at $2,031,000 after purchasing an additional 383 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of Stock Yards Bancorp by 0.3% in the 2nd quarter. Meridian Wealth Management LLC now owns 144,554 shares of the bank’s stock valued at $11,417,000 after purchasing an additional 500 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Stock Yards Bancorp by 2.8% during the 2nd quarter. Franklin Resources Inc. now owns 18,359 shares of the bank’s stock worth $1,450,000 after buying an additional 506 shares in the last quarter. Finally, American Trust raised its holdings in shares of Stock Yards Bancorp by 8.3% during the 2nd quarter. American Trust now owns 6,880 shares of the bank’s stock worth $543,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SYBT. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research report on Monday, December 29th. Piper Sandler restated a “neutral” rating and issued a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a research note on Friday, January 30th. Wall Street Zen lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, Hovde Group boosted their target price on shares of Stock Yards Bancorp from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.00.

Stock Yards Bancorp Trading Up 1.5%

Shares of NASDAQ SYBT opened at $69.33 on Friday. The firm has a 50 day moving average price of $68.04 and a two-hundred day moving average price of $70.08. The stock has a market cap of $2.04 billion, a P/E ratio of 14.60 and a beta of 0.72. Stock Yards Bancorp, Inc. has a 52-week low of $60.75 and a 52-week high of $83.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 0.99.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $104.47 million for the quarter, compared to analysts’ expectations of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.91%. As a group, equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.