Money Concepts Capital Corp Makes New $824,000 Investment in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Money Concepts Capital Corp purchased a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,508 shares of the bank's stock, valued at approximately $824,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYBT. Quantbot Technologies LP grew its holdings in shares of Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank's stock valued at $141,000 after buying an additional 1,367 shares during the last quarter. FMR LLC boosted its stake in Stock Yards Bancorp by 7.5% during 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 during the last quarter. Wesbanco Bank Inc. purchased a new stake in Stock Yards Bancorp during the 3rd quarter valued at $206,000. Independent Solutions Wealth Management LLC bought a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth $207,000. Finally, Ballentine Partners LLC purchased a new position in shares of Stock Yards Bancorp in the third quarter worth $219,000. Hedge funds and other institutional investors own 56.46% of the company's stock.

Insider Buying and Selling at Stock Yards Bancorp

In related news, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now directly owns 16,927 shares of the company's stock, valued at $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Heintzman sold 10,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.08, for a total value of $730,800.00. Following the sale, the director now owns 87,070 shares of the company's stock, valued at approximately $6,363,075.60. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,614 shares of company stock valued at $1,464,156 in the last three months. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

SYBT has been the subject of several research analyst reports. Stephens downgraded Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Piper Sandler lifted their price target 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. Finally, Hovde Group downgraded shares of Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and increased their price objective for the company from $67.00 to $68.00 in a research report on Thursday, October 24th.

Stock Yards Bancorp Trading Down 1.7 %

SYBT traded down $1.34 during trading on Friday, reaching $76.16. The company had a trading volume of 85,881 shares, compared to its average volume of 165,848. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. 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 $2.24 billion, a P/E ratio of 19.58 and a beta of 0.86. The business has a 50 day simple moving average of $73.78 and a 200-day simple moving average of $67.07.

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

Stock Yards Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. 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.