Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 157.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,431 shares of the bank's stock after buying an additional 9,444 shares during the quarter. LPL Financial LLC owned approximately 0.05% of Stock Yards Bancorp worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Firethorn Wealth Partners LLC lifted its holdings in shares of Stock Yards Bancorp by 0.9% during the fourth quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank's stock worth $1,048,000 after purchasing an additional 136 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Stock Yards Bancorp by 0.6% during the fourth quarter. Corient Private Wealth LLC now owns 25,140 shares of the bank's stock worth $1,800,000 after purchasing an additional 152 shares during the period. FMR LLC lifted its holdings in shares of Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank's stock worth $149,000 after purchasing an additional 167 shares during the period. Principal Securities Inc. lifted its holdings in shares of Stock Yards Bancorp by 115.6% during the fourth quarter. Principal Securities Inc. now owns 485 shares of the bank's stock worth $35,000 after purchasing an additional 260 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Stock Yards Bancorp by 0.7% in the fourth quarter. Rhumbline Advisers now owns 41,385 shares of the bank's stock valued at $2,964,000 after acquiring an additional 307 shares during the period. Hedge funds and other institutional investors own 56.46% of the company's stock.

Stock Yards Bancorp Price Performance

Shares of SYBT stock traded down $0.68 during mid-day trading on Thursday, reaching $74.72. The stock had a trading volume of 22,943 shares, compared to its average volume of 125,068. Stock Yards Bancorp, Inc. has a 12-month low of $44.32 and a 12-month high of $79.79. The company has a market cap of $2.20 billion, a P/E ratio of 19.21 and a beta of 0.77. The business has a 50-day simple moving average of $69.12 and a 200 day simple moving average of $70.98. 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 announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The business had revenue of $93.63 million during the quarter, compared to analysts' expectations of $92.90 million. During the same quarter last year, the business posted $0.88 earnings per share. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.66%. Stock Yards Bancorp's dividend payout ratio (DPR) is presently 31.88%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYBT. Stephens raised their target price on Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday. Piper Sandler set a $81.00 target price on Stock Yards Bancorp and gave the company a "neutral" rating in a report on Thursday.

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.