Handelsbanken Fonder AB Takes $380,000 Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Handelsbanken Fonder AB acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,300 shares of the bank's stock, valued at approximately $380,000.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. grew its stake in shares of Stock Yards Bancorp by 115.6% in the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank's stock worth $35,000 after acquiring an additional 260 shares in the last quarter. Kentucky Trust Co acquired a new position in Stock Yards Bancorp during the 4th quarter worth $44,000. Allworth Financial LP increased its holdings in Stock Yards Bancorp by 126.2% during the 4th quarter. Allworth Financial LP now owns 846 shares of the bank's stock worth $63,000 after purchasing an additional 472 shares during the period. Quantbot Technologies LP raised its position in Stock Yards Bancorp by 151.2% in the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank's stock valued at $141,000 after purchasing an additional 1,367 shares in the last quarter. Finally, FMR LLC raised its position in Stock Yards Bancorp by 7.5% in the 3rd quarter. FMR LLC now owns 2,400 shares of the bank's stock valued at $149,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 56.46% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stephens lowered shares of Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $70.00 to $76.00 in a research note on Friday, November 15th.

Stock Yards Bancorp Stock Down 2.3 %

NASDAQ SYBT traded down $1.62 during trading on Thursday, reaching $68.58. 26,614 shares of the company's stock were exchanged, compared to its average volume of 134,531. The company has a 50 day moving average price of $73.01 and a two-hundred day moving average price of $69.09. The stock has a market cap of $2.02 billion, a P/E ratio of 17.59 and a beta of 0.86. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Monday, March 17th. Stock Yards Bancorp's dividend payout ratio (DPR) is 31.88%.

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.