NFJ Investment Group LLC Sells 3,148 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

NFJ Investment Group LLC reduced its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,423 shares of the bank’s stock after selling 3,148 shares during the quarter. NFJ Investment Group LLC’s holdings in Stock Yards Bancorp were worth $4,304,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in Stock Yards Bancorp during the 3rd quarter worth approximately $30,255,000. Meridian Wealth Management LLC purchased a new stake in shares of Stock Yards Bancorp during the third quarter valued at approximately $9,082,000. American Century Companies Inc. boosted its stake in shares of Stock Yards Bancorp by 163.4% during the second quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after purchasing an additional 88,364 shares during the period. Creative Planning increased its stake in shares of Stock Yards Bancorp by 534.3% in the second quarter. Creative Planning now owns 43,057 shares of the bank’s stock worth $2,139,000 after buying an additional 36,269 shares during the period. Finally, Deprince Race & Zollo Inc. raised its holdings in Stock Yards Bancorp by 17.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock valued at $9,542,000 after buying an additional 28,400 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, President Philip Poindexter sold 3,419 shares of Stock Yards Bancorp stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the completion of the sale, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Heintzman sold 2,700 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the completion of the transaction, the director now owns 29,786 shares in the company, valued at $1,878,603.02. This trade represents a 8.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,269 shares of company stock worth $2,514,725 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Stock Up 0.8 %

Shares of Stock Yards Bancorp stock opened at $77.39 on Wednesday. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $68.10 and its two-hundred day simple moving average is $58.98. The company has a market cap of $2.28 billion, a P/E ratio of 21.26 and a beta of 0.85.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The business had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 34.07%.

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.