Janus Henderson Group PLC Sells 5,239 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Janus Henderson Group PLC lowered its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 20.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,781 shares of the bank’s stock after selling 5,239 shares during the quarter. Janus Henderson Group PLC owned 0.07% of Stock Yards Bancorp worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. FMR LLC lifted its position in Stock Yards Bancorp by 7.5% in the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after purchasing an additional 167 shares during the period. Independence Bank of Kentucky raised its stake in shares of Stock Yards Bancorp by 1.4% in the 2nd quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock valued at $714,000 after buying an additional 202 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Stock Yards Bancorp by 10.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock worth $263,000 after acquiring an additional 494 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Stock Yards Bancorp during the 2nd quarter valued at about $45,000. Finally, Barlow Wealth Partners Inc. increased its stake in Stock Yards Bancorp by 1.7% in the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock valued at $3,805,000 after acquiring an additional 1,069 shares during the period. Institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

SYBT has been the subject of several analyst reports. Piper Sandler raised their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research 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 target price 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 target price for the stock from $70.00 to $76.00 in a research report on Friday, November 15th.

Stock Yards Bancorp Trading Up 0.4 %

SYBT stock opened at $77.62 on Friday. 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 stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 21.32 and a beta of 0.85. The business has a fifty day moving average price of $70.88 and a 200 day moving average price of $60.50. Stock Yards Bancorp, Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $130.52 million during 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%. Analysts expect that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.60%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.07%.

Insider Activity at Stock Yards Bancorp

In other news, President Philip Poindexter sold 3,419 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the transaction, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David P. Heintzman sold 7,659 shares of Stock Yards Bancorp stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $65.98, for a total value of $505,340.82. Following the completion of the sale, the director now owns 99,411 shares of the company’s stock, valued at approximately $6,559,137.78. The trade was a 7.15 % decrease in their ownership of the stock. 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 over the last quarter. Corporate 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.