Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,592 shares of the bank’s stock after selling 1,203 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Stock Yards Bancorp were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYBT. Covestor Ltd lifted its holdings in shares of Stock Yards Bancorp by 58.2% in the 3rd quarter. Covestor Ltd now owns 3,384 shares of the bank’s stock worth $133,000 after acquiring an additional 1,245 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Stock Yards Bancorp during the fourth quarter worth about $165,000. Joule Financial LLC purchased a new position in shares of Stock Yards Bancorp in the fourth quarter valued at approximately $239,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Stock Yards Bancorp by 35.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,958 shares of the bank’s stock worth $273,000 after buying an additional 1,836 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new position in shares of Stock Yards Bancorp in the third quarter worth $275,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYBT has been the subject of a number of analyst reports. Piper Sandler began coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They set a “neutral” rating and a $52.00 price objective for the company. Hovde Group assumed coverage on shares of Stock Yards Bancorp in a research report on Monday, March 4th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.00.

Stock Yards Bancorp Stock Up 1.8 %

Shares of NASDAQ SYBT opened at $45.69 on Wednesday. The stock has a market cap of $1.34 billion, a PE ratio of 12.44 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 52-week low of $36.93 and a 52-week high of $53.15. The business has a 50-day moving average price of $45.66 and a 200 day moving average price of $46.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, January 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). The business had revenue of $119.66 million for the quarter, compared to analysts’ expectations of $82.60 million. Stock Yards Bancorp had a return on equity of 13.20% and a net margin of 24.54%. Equities research analysts forecast that Stock Yards Bancorp, Inc. will post 3.37 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were paid a $0.30 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.63%. Stock Yards Bancorp’s dividend payout ratio is presently 32.70%.

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.