State Street Corp Buys 15,156 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

State Street Corp raised its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 778,497 shares of the bank's stock after purchasing an additional 15,156 shares during the quarter. State Street Corp owned approximately 2.65% of Stock Yards Bancorp worth $48,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Stock Yards Bancorp by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank's stock valued at $46,536,000 after purchasing an additional 24,856 shares in the last quarter. American Century Companies Inc. boosted its stake in Stock Yards Bancorp by 163.4% in the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank's stock worth $7,076,000 after purchasing an additional 88,364 shares during the period. Stock Yards Bank & Trust Co. grew its holdings in Stock Yards Bancorp by 0.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,223,176 shares of the bank's stock valued at $60,755,000 after buying an additional 9,573 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Stock Yards Bancorp during the second quarter valued at about $1,154,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Stock Yards Bancorp in the third quarter worth about $9,082,000. Institutional investors own 56.46% of the company's stock.

Analyst Upgrades and Downgrades

SYBT has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Hovde Group downgraded Stock Yards Bancorp from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th.

Stock Yards Bancorp Price Performance

SYBT traded up $0.55 on Friday, reaching $72.72. The company had a trading volume of 352,146 shares, compared to its average volume of 106,893. Stock Yards Bancorp, Inc. has a 52-week low of $42.35 and a 52-week high of $79.79. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 19.98 and a beta of 0.85. 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 business has a 50 day simple moving average of $72.00 and a 200 day simple moving average of $61.29.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. The firm had revenue of $130.52 million for the quarter, compared to analysts' expectations of $87.57 million. As a group, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current year.

Stock Yards Bancorp Announces Dividend

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 paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp's dividend payout ratio (DPR) is currently 34.07%.

Insider Transactions at Stock Yards Bancorp

In related news, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares in the company, valued at $1,266,308.87. This trade represents a 13.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Philip Poindexter sold 3,419 shares of the business's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now directly owns 51,331 shares of the company's stock, valued at $3,878,057.05. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,614 shares of company stock worth $2,347,890. 3.90% of the stock is currently owned by corporate insiders.

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.