Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report) by 3.9% in the fourth quarter, Holdings Channel reports. The firm owned 253,557 shares of the bank’s stock after selling 10,317 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Stock Yards Bancorp were worth $13,056,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Thoroughbred Financial Services LLC lifted its holdings in Stock Yards Bancorp by 1.3% in the fourth quarter. Thoroughbred Financial Services LLC now owns 23,104 shares of the bank’s stock worth $1,189,000 after acquiring an additional 302 shares during the last quarter. Raymond James & Associates raised its holdings in Stock Yards Bancorp by 3.7% during the fourth quarter. Raymond James & Associates now owns 8,775 shares of the bank’s stock worth $452,000 after purchasing an additional 314 shares in the last quarter. Baldwin Brothers LLC MA raised its holdings in Stock Yards Bancorp by 6.2% during the fourth quarter. Baldwin Brothers LLC MA now owns 12,030 shares of the bank’s stock worth $619,000 after purchasing an additional 700 shares in the last quarter. Swiss National Bank raised its holdings in Stock Yards Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 61,323 shares of the bank’s stock worth $2,409,000 after purchasing an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Stock Yards Bancorp by 70.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,931 shares of the bank’s stock worth $99,000 after purchasing an additional 799 shares in the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYBT has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 price target on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 target price (up previously from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday, April 25th. Finally, Hovde Group began coverage on shares of Stock Yards Bancorp in a research note on Monday, March 4th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.00.

View Our Latest Report on SYBT

Insider Transactions at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 3,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $47.05, for a total value of $141,150.00. Following the sale, the director now owns 113,070 shares of the company’s stock, valued at $5,319,943.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Stock Down 0.2 %

SYBT stock opened at $45.88 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp, Inc. has a 1 year low of $36.93 and a 1 year high of $53.15. The company has a fifty day simple moving average of $46.29 and a 200 day simple moving average of $47.33. The firm has a market cap of $1.35 billion, a PE ratio of 12.89 and a beta of 0.84.

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $83.44 million during the quarter, compared to analyst estimates of $83.00 million. Stock Yards Bancorp had a net margin of 22.86% and a return on equity of 12.51%. Sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 3.49 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, June 17th. This represents a $1.20 annualized dividend and a dividend yield of 2.62%. Stock Yards Bancorp’s payout ratio is 33.71%.

About Stock Yards Bancorp

(Free Report)

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.

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Want to see what other hedge funds are holding SYBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report).

Institutional Ownership by Quarter for Stock Yards Bancorp (NASDAQ:SYBT)

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