Sigma Planning Corp Lowers Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Sigma Planning Corp trimmed its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 22.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,455 shares of the bank’s stock after selling 1,000 shares during the quarter. Sigma Planning Corp’s holdings in Stock Yards Bancorp were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Bridges Investment Management Inc. bought a new position in shares of Stock Yards Bancorp in the third quarter worth approximately $238,000. Rosenthal Henry Capital Advisors Inc. lifted its stake in Stock Yards Bancorp by 2.2% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 63,095 shares of the bank’s stock worth $3,911,000 after purchasing an additional 1,375 shares during the last quarter. Sippican Capital Advisors boosted its holdings in shares of Stock Yards Bancorp by 21.9% in the 3rd quarter. Sippican Capital Advisors now owns 17,354 shares of the bank’s stock worth $1,076,000 after purchasing an additional 3,121 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Stock Yards Bancorp during the 3rd quarter valued at about $219,000. Finally, Creative Planning lifted its position in Stock Yards Bancorp by 7.6% in the 3rd quarter. Creative Planning now owns 46,346 shares of the bank’s stock worth $2,873,000 after buying an additional 3,289 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 7,659 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $65.98, for a total transaction of $505,340.82. Following the transaction, the director now owns 99,411 shares in the company, valued at approximately $6,559,137.78. This represents a 7.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 15,700 shares of company stock valued at $1,054,023. 3.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $64.00 price objective (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $76.00 in a research report on Friday. Piper Sandler lifted their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.25.

Stock Yards Bancorp Price Performance

SYBT stock opened at $73.25 on Monday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.12 and a beta of 0.81. The firm’s 50-day moving average price is $64.52 and its two-hundred day moving average price is $56.62. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $77.82.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $130.52 million for the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. As a group, equities analysts predict that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were issued a $0.31 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.24 annualized dividend and a yield of 1.69%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s payout ratio is 34.07%.

About Stock Yards Bancorp

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.