Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,890 shares of the bank's stock after purchasing an additional 4,368 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Stock Yards Bancorp worth $1,209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYBT. Jones Financial Companies Lllp grew its stake in shares of Stock Yards Bancorp by 1,077.5% during the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock worth $34,000 after purchasing an additional 431 shares during the period. Principal Securities Inc. grew its stake in Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock valued at $35,000 after acquiring an additional 260 shares during the period. Kentucky Trust Co acquired a new stake in Stock Yards Bancorp in the 4th quarter valued at $44,000. Allworth Financial LP grew its stake in Stock Yards Bancorp by 126.2% in the 4th quarter. Allworth Financial LP now owns 846 shares of the bank's stock valued at $63,000 after acquiring an additional 472 shares during the period. Finally, Pillar Financial Advisors LLC acquired a new stake in Stock Yards Bancorp in the 4th quarter valued at $113,000. Institutional investors and hedge funds own 56.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYBT. Stephens lifted their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th.

Stock Yards Bancorp Stock Down 0.6 %

SYBT stock opened at $74.19 on Tuesday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 19.07 and a beta of 0.77. 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, Inc. has a 12 month low of $44.32 and a 12 month high of $79.79. The firm has a 50-day moving average of $69.11 and a two-hundred day moving average of $71.41.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.13. The company had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.67%. Stock Yards Bancorp's payout ratio is 29.95%.

About Stock Yards Bancorp

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.

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