Intech Investment Management LLC Invests $434,000 in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Intech Investment Management LLC acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,005 shares of the bank's stock, valued at approximately $434,000.

Several other large investors also recently added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. grew its stake in Stock Yards Bancorp by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank's stock worth $60,755,000 after purchasing an additional 9,573 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Stock Yards Bancorp by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank's stock worth $46,536,000 after acquiring an additional 24,856 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Stock Yards Bancorp during the 3rd quarter valued at $30,255,000. Curi RMB Capital LLC grew its stake in Stock Yards Bancorp by 3.9% during the 3rd quarter. Curi RMB Capital LLC now owns 250,369 shares of the bank's stock worth $15,520,000 after buying an additional 9,291 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its holdings in shares of Stock Yards Bancorp by 17.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank's stock valued at $9,542,000 after buying an additional 28,400 shares during the period. Hedge funds and other institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT traded up $0.59 during trading hours on Tuesday, reaching $77.39. The company's stock had a trading volume of 98,315 shares, compared to its average volume of 106,542. The business has a 50-day simple moving average of $67.79 and a 200 day simple moving average of $58.78. Stock Yards Bancorp, Inc. has a 52 week low of $42.35 and a 52 week high of $79.79. The stock has a market cap of $2.28 billion, a PE ratio of 21.23 and a beta of 0.85. 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 (NASDAQ:SYBT - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. The firm had revenue of $130.52 million during the quarter, compared to analysts' expectations of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. Equities research analysts predict that Stock Yards Bancorp, Inc. will post 3.8 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.31 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.60%. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 34.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SYBT shares. Stephens lowered Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Piper Sandler increased their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, Hovde Group lowered Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Stock Yards Bancorp has a consensus rating of "Hold" and a consensus price target of $69.25.

Insiders Place Their Bets

In related news, President Philip Poindexter sold 3,419 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $75.55, for a total value of $258,305.45. Following the sale, the president now directly owns 51,331 shares of the company's stock, valued at $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 35,269 shares of company stock valued at $2,514,725. Insiders own 3.90% of the company's stock.

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.