Independence Bank of Kentucky Acquires Shares of 10,569 Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Independence Bank of Kentucky acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,569 shares of the bank’s stock, valued at approximately $544,000.

A number of other large investors also recently made changes to their positions in SYBT. Morgan Stanley increased its stake in shares of Stock Yards Bancorp by 239.8% during the fourth quarter. Morgan Stanley now owns 409,595 shares of the bank’s stock worth $26,616,000 after purchasing an additional 289,066 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Stock Yards Bancorp by 194.5% during the second quarter. Goldman Sachs Group Inc. now owns 332,502 shares of the bank’s stock worth $15,086,000 after purchasing an additional 219,616 shares during the period. Norges Bank bought a new position in shares of Stock Yards Bancorp during the fourth quarter worth approximately $11,178,000. State Street Corp increased its stake in shares of Stock Yards Bancorp by 22.4% during the second quarter. State Street Corp now owns 763,115 shares of the bank’s stock worth $34,798,000 after purchasing an additional 139,501 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Stock Yards Bancorp during the second quarter worth approximately $4,766,000. Institutional investors own 56.46% of the company’s stock.

Wall Street Analyst Weigh In

SYBT has been the topic of a number of recent research reports. TheStreet upgraded Stock Yards Bancorp from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Hovde Group started coverage on Stock Yards Bancorp in a research report on Monday, March 4th. They set an “outperform” rating on the stock. Finally, Piper Sandler started coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They set a “neutral” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.67.

View Our Latest Stock Analysis on SYBT

Stock Yards Bancorp Trading Down 2.4 %

NASDAQ SYBT opened at $46.57 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp, Inc. has a twelve month low of $36.93 and a twelve month high of $56.00. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 12.69 and a beta of 0.81. The business’s fifty day moving average is $46.79 and its 200 day moving average is $45.67.

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Stock Yards Bancorp had a net margin of 24.54% and a return on equity of 13.20%. The firm had revenue of $119.66 million for the quarter, compared to analyst estimates of $82.60 million. As a group, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 3.37 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 32.70%.

About Stock Yards Bancorp

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Stock Yards Bancorp (NASDAQ:SYBT)

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