Quest Partners LLC Has $449,000 Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Quest Partners LLC grew its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 397.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,249 shares of the bank’s stock after acquiring an additional 5,791 shares during the period. Quest Partners LLC’s holdings in Stock Yards Bancorp were worth $449,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Stock Yards Bancorp during the third quarter worth $30,255,000. American Century Companies Inc. increased its stake in Stock Yards Bancorp by 163.4% in 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 in the last quarter. Creative Planning grew its stake in Stock Yards Bancorp by 534.3% in the second quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after acquiring an additional 36,269 shares during the period. Deprince Race & Zollo Inc. increased its stake 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 purchasing an additional 28,400 shares in the last quarter. Finally, RPS Advisory Solutions LLC bought a new stake in shares of Stock Yards Bancorp during the second quarter worth about $1,358,000. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $76.11 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day moving average of $66.06 and a 200 day moving average of $57.43. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $77.82.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. On average, research analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.63%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.07%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director David P. Heintzman sold 2,700 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $63.07, for a total transaction of $170,289.00. Following the transaction, the director now owns 29,786 shares in the company, valued at $1,878,603.02. The trade was a 8.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Philip Poindexter sold 3,419 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the transaction, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,769 shares of company stock worth $2,241,375 in the last ninety days. 3.90% of the stock is owned by insiders.

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.