Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,883 shares of the bank’s stock after purchasing an additional 3,385 shares during the period. BNP Paribas Financial Markets’ holdings in Stock Yards Bancorp were worth $799,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SYBT. Victory Capital Management Inc. purchased a new stake in shares of Stock Yards Bancorp during the 3rd quarter valued at about $30,255,000. Meridian Wealth Management LLC acquired a new stake in Stock Yards Bancorp in the third quarter valued at approximately $9,082,000. American Century Companies Inc. raised its stake in shares of Stock Yards Bancorp by 163.4% during 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 during the period. Creative Planning lifted its position in shares of Stock Yards Bancorp by 534.3% during the second quarter. Creative Planning now owns 43,057 shares of the bank’s stock worth $2,139,000 after purchasing an additional 36,269 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Stock Yards Bancorp by 17.3% in the second 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 during the period. 56.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYBT has been the topic of several analyst reports. Piper Sandler lifted their price target 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. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $70.00 to $76.00 in a research note on Friday, November 15th.

Stock Yards Bancorp Stock Up 0.8 %

NASDAQ:SYBT opened at $77.93 on Thursday. The stock has a 50-day simple moving average of $70.14 and a 200 day simple moving average of $60.17. Stock Yards Bancorp, Inc. has a one year low of $42.35 and a one year high of $79.79. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 21.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. The business had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. Sell-side analysts predict that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 34.07%.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,341 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.05, for a total value of $154,623.05. Following the transaction, the director now owns 97,070 shares of the company’s stock, valued at approximately $6,411,473.50. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Philip Poindexter sold 3,419 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the sale, the president now owns 51,331 shares in the company, valued at approximately $3,878,057.05. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,269 shares of company stock valued at $2,514,725 in the last quarter. Insiders own 3.90% of the company’s stock.

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.