GSA Capital Partners LLP Sells 19,161 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

GSA Capital Partners LLP decreased its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 45.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,346 shares of the bank's stock after selling 19,161 shares during the quarter. GSA Capital Partners LLP owned 0.08% of Stock Yards Bancorp worth $1,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp in the 2nd quarter worth about $45,000. Quantbot Technologies LP acquired a new stake in Stock Yards Bancorp in the 1st quarter worth about $195,000. Wesbanco Bank Inc. acquired a new stake in Stock Yards Bancorp in the 3rd quarter worth about $206,000. Ballentine Partners LLC acquired a new stake in Stock Yards Bancorp in the 3rd quarter worth about $219,000. Finally, Bridges Investment Management Inc. acquired a new stake in Stock Yards Bancorp in the 3rd quarter worth about $238,000. Institutional investors and hedge funds own 56.46% of the company's stock.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock traded down $1.27 during midday trading on Thursday, hitting $73.94. 23,982 shares of the company traded hands, compared to its average volume of 106,571. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 20.66 and a beta of 0.81. 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 firm's fifty day moving average price is $63.89 and its 200-day moving average price is $56.14. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $77.82.

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

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Stock Yards Bancorp's previous quarterly dividend of $0.30. The ex-dividend date was Monday, September 16th. Stock Yards Bancorp's payout ratio is presently 34.07%.

Insiders Place Their Bets

In other news, Director David P. Heintzman sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total value of $223,770.00. Following the transaction, the director now owns 30,150 shares in the company, valued at approximately $2,248,888.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David P. Heintzman sold 3,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $74.59, for a total transaction of $223,770.00. Following the transaction, the director now owns 30,150 shares in the company, valued at $2,248,888.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Heintzman sold 7,659 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $65.98, for a total transaction of $505,340.82. Following the transaction, the director now owns 99,411 shares in the company, valued at $6,559,137.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,700 shares of company stock valued at $1,054,023 in the last ninety days. 3.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Stephens raised their target price on shares of Stock Yards Bancorp from $60.00 to $70.00 and gave the company an "overweight" 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 report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $67.75.

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.