Kentucky Trust Co Makes New Investment in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Kentucky Trust Co purchased a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 612 shares of the bank’s stock, valued at approximately $44,000.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth about $30,255,000. Meridian Wealth Management LLC purchased a new stake in shares of Stock Yards Bancorp in the 3rd quarter worth about $9,082,000. Barclays PLC lifted its position in shares of Stock Yards Bancorp by 137.8% in the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank’s stock worth $2,840,000 after purchasing an additional 26,537 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Stock Yards Bancorp by 22.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 94,956 shares of the bank’s stock worth $5,886,000 after purchasing an additional 17,469 shares during the period. Finally, State Street Corp lifted its position in shares of Stock Yards Bancorp by 2.0% in the 3rd quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after purchasing an additional 15,156 shares during the period. Institutional investors own 56.46% of the company’s stock.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director David P. Heintzman sold 10,000 shares of Stock Yards Bancorp stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $73.08, for a total value of $730,800.00. Following the completion of the transaction, the director now directly owns 87,070 shares of the company’s stock, valued at approximately $6,363,075.60. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $74.81, for a total transaction of $198,246.50. Following the completion of the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,614 shares of company stock valued at $1,464,156. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SYBT. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Piper Sandler lifted their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th.

Stock Yards Bancorp Trading Down 3.8 %

Shares of NASDAQ SYBT opened at $74.69 on Thursday. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79. The stock has a market cap of $2.20 billion, a P/E ratio of 19.20 and a beta of 0.86. The firm has a 50-day moving average of $73.68 and a 200 day moving average of $67.40. 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 (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company posted $0.82 earnings per share. As a group, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.24 annualized dividend and a yield of 1.66%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 31.88%.

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.