Alpha DNA Investment Management LLC Buys New Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Alpha DNA Investment Management LLC acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,620 shares of the bank's stock, valued at approximately $472,000.

A number of other hedge funds have also modified their holdings of the stock. Independence Bank of Kentucky grew its holdings in shares of Stock Yards Bancorp by 1.4% during the second quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank's stock worth $714,000 after purchasing an additional 202 shares during the last quarter. Diversified Trust Co lifted its position in shares of Stock Yards Bancorp by 2.3% during the second quarter. Diversified Trust Co now owns 10,141 shares of the bank's stock worth $504,000 after purchasing an additional 231 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Stock Yards Bancorp by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,879 shares of the bank's stock valued at $239,000 after purchasing an additional 384 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Stock Yards Bancorp by 10.3% in the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank's stock valued at $263,000 after purchasing an additional 494 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Stock Yards Bancorp in the 2nd quarter worth approximately $45,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Trading Up 1.7 %

Shares of SYBT stock traded up $1.31 on Monday, hitting $77.42. The stock had a trading volume of 136,418 shares, compared to its average volume of 106,659. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.70. The company has a fifty day moving average price of $66.06 and a two-hundred day moving average price of $57.58. The firm has a market cap of $2.28 billion, a P/E ratio of 21.27 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last issued its quarterly earnings data 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. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The business had revenue of $130.52 million during the quarter, compared to analyst estimates of $87.57 million. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp's dividend payout ratio is 34.07%.

Insider Buying and Selling

In other news, Director David P. Heintzman sold 2,341 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $66.05, for a total value of $154,623.05. Following the sale, the director now owns 97,070 shares of the company's stock, valued at $6,411,473.50. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Philip Poindexter sold 3,419 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares of the company's stock, valued at approximately $3,878,057.05. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,769 shares of company stock worth $2,241,375 over the last ninety days. Company insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

SYBT has been the subject of several research reports. Stephens cut Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Piper Sandler boosted their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Finally, Hovde Group lowered shares of Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and raised their target price for the company from $67.00 to $68.00 in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of "Hold" and a consensus price target of $69.25.

Stock Yards Bancorp Company 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.