New York State Common Retirement Fund Cuts Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

New York State Common Retirement Fund reduced its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 86.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,979 shares of the bank's stock after selling 58,116 shares during the quarter. New York State Common Retirement Fund's holdings in Stock Yards Bancorp were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Principal Securities Inc. boosted its position 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 purchasing an additional 260 shares during the period. Kentucky Trust Co bought a new position in shares of Stock Yards Bancorp during the fourth quarter worth $44,000. Allworth Financial LP boosted its position in shares of Stock Yards Bancorp by 126.2% during the fourth quarter. Allworth Financial LP now owns 846 shares of the bank's stock worth $63,000 after acquiring an additional 472 shares during the last quarter. Quantbot Technologies LP boosted its position 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 worth $141,000 after acquiring an additional 1,367 shares during the last quarter. Finally, FMR LLC boosted its position 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 acquiring an additional 167 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Price Performance

NASDAQ SYBT traded down $0.66 on Wednesday, hitting $70.20. The company had a trading volume of 70,637 shares, compared to its average volume of 137,148. The company has a market capitalization of $2.07 billion, a PE ratio of 18.05 and a beta of 0.86. The company's fifty day moving average price is $73.05 and its 200-day moving average price is $69.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 EPS. As a group, analysts predict 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 will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. Stock Yards Bancorp's payout ratio is 31.88%.

Analyst Upgrades and Downgrades

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 report on Friday, November 15th.

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.