Dimensional Fund Advisors LP raised its holdings in Stock Yards Bancorp Inc (NASDAQ:SYBT) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 800,868 shares of the bank’s stock after purchasing an additional 11,455 shares during the period. Dimensional Fund Advisors LP owned 3.53% of Stock Yards Bancorp worth $30,432,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Stock Yards Bancorp in the third quarter valued at about $118,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Stock Yards Bancorp by 784.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock valued at $120,000 after purchasing an additional 2,745 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Stock Yards Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock valued at $179,000 after purchasing an additional 687 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Stock Yards Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock valued at $223,000 after purchasing an additional 46 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Stock Yards Bancorp in the second quarter valued at about $261,000. 47.71% of the stock is currently owned by institutional investors.
In related news, insider Kathy C. Thompson sold 3,324 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $38.10, for a total transaction of $126,644.40. Following the completion of the transaction, the insider now owns 40,440 shares of the company’s stock, valued at $1,540,764. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathy C. Thompson sold 2,284 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.62, for a total transaction of $90,492.08. The disclosure for this sale can be found here. In the last three months, insiders bought 3,159 shares of company stock valued at $121,005 and sold 9,372 shares valued at $365,453. Insiders own 6.20% of the company’s stock.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $37.27 million during the quarter, compared to analyst estimates of $37.81 million. Stock Yards Bancorp had a net margin of 28.57% and a return on equity of 13.51%. During the same quarter in the previous year, the business posted $0.46 earnings per share. analysts forecast that Stock Yards Bancorp Inc will post 1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 11th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, December 8th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.20. Stock Yards Bancorp’s payout ratio is currently 44.21%.
Several brokerages have issued reports on SYBT. Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, December 6th. BidaskClub downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.
Stock Yards Bancorp Profile
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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