Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Stake Lessened by Harvey Investment Co. LLC

Harvey Investment Co. LLC trimmed its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,667 shares of the bank’s stock after selling 140 shares during the quarter. Harvey Investment Co. LLC owned approximately 0.10% of Stock Yards Bancorp worth $2,053,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Money Concepts Capital Corp acquired a new stake in shares of Stock Yards Bancorp during the 4th quarter valued at approximately $824,000. Sippican Capital Advisors raised its holdings in shares of Stock Yards Bancorp by 2.8% during the fourth quarter. Sippican Capital Advisors now owns 17,844 shares of the bank’s stock worth $1,278,000 after purchasing an additional 490 shares during the period. Blue Trust Inc. lifted its position in shares of Stock Yards Bancorp by 24.9% in the 4th quarter. Blue Trust Inc. now owns 5,011 shares of the bank’s stock worth $359,000 after buying an additional 1,000 shares during the last quarter. Firethorn Wealth Partners LLC boosted its holdings in shares of Stock Yards Bancorp by 0.9% in the 4th quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank’s stock valued at $1,048,000 after buying an additional 136 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Stock Yards Bancorp during the 4th quarter valued at about $749,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Performance

SYBT stock opened at $77.50 on Friday. The company has a 50-day simple moving average of $73.78 and a 200 day simple moving average of $66.94. The company has a market capitalization of $2.28 billion, a P/E ratio of 19.92 and a beta of 0.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business posted $0.82 earnings per share. Sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, December 16th. Stock Yards Bancorp’s payout ratio is presently 31.88%.

Insiders Place Their Bets

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the completion of the sale, the director now owns 21,411 shares of the company’s stock, valued at $1,672,199.10. This represents a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction on 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 owns 16,927 shares in the company, valued at $1,266,308.87. This trade represents a 13.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,614 shares of company stock valued at $1,464,156 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYBT shares. 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 report on Thursday, October 24th. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $76.00 in a report on Friday, November 15th. Finally, Piper Sandler upped their price objective on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th.

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.