488,056 Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 488,056 shares of the bank's stock, valued at approximately $30,255,000. Victory Capital Management Inc. owned 1.66% of Stock Yards Bancorp as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC boosted its stake in shares of Stock Yards Bancorp by 22.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 94,956 shares of the bank's stock worth $5,886,000 after buying an additional 17,469 shares during the last quarter. Bridges Investment Management Inc. bought a new position in Stock Yards Bancorp in the 3rd quarter valued at about $238,000. Rosenthal Henry Capital Advisors Inc. lifted its holdings in shares of Stock Yards Bancorp by 2.2% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 63,095 shares of the bank's stock worth $3,911,000 after acquiring an additional 1,375 shares during the period. Sippican Capital Advisors boosted its position in shares of Stock Yards Bancorp by 21.9% during the 3rd quarter. Sippican Capital Advisors now owns 17,354 shares of the bank's stock worth $1,076,000 after acquiring an additional 3,121 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in Stock Yards Bancorp in the third quarter valued at approximately $219,000. Institutional investors own 56.46% of the company's stock.

Insider Transactions at Stock Yards Bancorp

In other news, Director David P. Heintzman sold 2,700 shares of the business's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $63.07, for a total transaction of $170,289.00. Following the sale, the director now owns 29,786 shares in the company, valued at approximately $1,878,603.02. The trade was a 8.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 15,700 shares of company stock worth $1,054,023. Insiders own 3.90% of the company's stock.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT traded down $1.18 during trading on Friday, hitting $73.25. 94,723 shares of the company's stock traded hands, compared to its average volume of 202,383. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.12 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $77.82. The business has a 50 day moving average of $64.52 and a 200-day moving average of $56.55.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The company had revenue of $130.52 million during the quarter, compared to analysts' expectations of $87.57 million. As a group, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Stock Yards Bancorp's previous quarterly dividend of $0.30. Stock Yards Bancorp's dividend payout ratio is 34.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYBT. 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 report on Friday. Piper Sandler lifted their target price 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 downgraded 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 report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $64.00 price objective (up previously from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $69.25.

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.