Raymond James Financial Inc. Makes New Investment in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Raymond James Financial Inc. purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,664 shares of the bank's stock, valued at approximately $835,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SYBT. Victory Capital Management Inc. increased its holdings in shares of Stock Yards Bancorp by 120.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank's stock valued at $76,953,000 after purchasing an additional 586,550 shares during the period. State Street Corp increased its stake in Stock Yards Bancorp by 2.0% in the 3rd quarter. State Street Corp now owns 778,497 shares of the bank's stock valued at $48,506,000 after buying an additional 15,156 shares during the period. Geode Capital Management LLC increased its stake in Stock Yards Bancorp by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 636,744 shares of the bank's stock valued at $39,480,000 after buying an additional 5,391 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Stock Yards Bancorp by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 222,632 shares of the bank's stock worth $15,943,000 after buying an additional 3,605 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Stock Yards Bancorp by 137.8% during the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank's stock valued at $2,840,000 after buying an additional 26,537 shares during the period. Institutional investors and hedge funds own 56.46% of the company's stock.

Stock Yards Bancorp Stock Down 5.0 %

Shares of NASDAQ SYBT traded down $3.37 during mid-day trading on Thursday, reaching $63.94. The company had a trading volume of 130,958 shares, compared to its average volume of 124,069. The stock has a market capitalization of $1.88 billion, a PE ratio of 16.44 and a beta of 0.77. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month 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. The stock's 50 day moving average is $70.55 and its 200-day moving average is $70.57.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, beating 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 last year, the business posted $0.82 earnings per share. As a group, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 annualized dividend and a dividend yield of 1.94%. 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.