Barclays PLC Raises Stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Barclays PLC lifted its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 137.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,801 shares of the bank’s stock after acquiring an additional 26,537 shares during the period. Barclays PLC’s holdings in Stock Yards Bancorp were worth $2,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in Stock Yards Bancorp during the third quarter worth about $30,255,000. Meridian Wealth Management LLC purchased a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at approximately $9,082,000. American Century Companies Inc. lifted its holdings 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 acquiring an additional 88,364 shares during the last quarter. Creative Planning grew its position in 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 acquiring an additional 36,269 shares during the period. Finally, Deprince Race & Zollo Inc. increased its stake in Stock Yards Bancorp by 17.3% during the second quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock worth $9,542,000 after acquiring an additional 28,400 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $72.46 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $2.13 billion, a P/E ratio of 19.91 and a beta of 0.85. The stock has a 50-day moving average of $72.50 and a two-hundred day moving average of $62.08. Stock Yards Bancorp, Inc. has a 1-year low of $42.35 and a 1-year high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The firm had revenue of $130.52 million for the quarter, compared to the consensus estimate of $87.57 million. As a group, 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. Investors of record on Monday, December 16th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.71%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.07%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SYBT. Piper Sandler increased their price target on 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 downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $67.00 to $68.00 in a research note on Thursday, October 24th. Finally, Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th.

Insider Buying and Selling

In related news, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the completion of the transaction, the executive vice president now owns 16,927 shares in the company, valued at $1,266,308.87. The trade was a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Heintzman sold 3,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $78.10, for a total transaction of $273,350.00. Following the completion of the sale, the director now directly owns 21,411 shares in the company, valued at approximately $1,672,199.10. This represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,614 shares of company stock valued at $2,347,890 in the last three months. 3.90% of the stock is owned by corporate insiders.

Stock Yards Bancorp Company 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.