488,056 Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Bought by Victory Capital Management Inc.

Victory Capital Management Inc. acquired a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 488,056 shares of the bank’s stock, valued at approximately $30,255,000. Victory Capital Management Inc. owned about 1.66% of Stock Yards Bancorp as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Stock Yards Bancorp by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock valued at $46,536,000 after buying an additional 24,856 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Stock Yards Bancorp by 163.4% in the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after purchasing an additional 88,364 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Stock Yards Bancorp by 4.5% in the 1st quarter. Champlain Investment Partners LLC now owns 1,168,256 shares of the bank’s stock worth $57,139,000 after purchasing an additional 50,730 shares during the period. Thoroughbred Financial Services LLC bought a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at approximately $1,154,000. Finally, Stock Yards Bank & Trust Co. raised 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 during the period. Institutional investors own 56.46% of the company’s stock.

Insider Activity at Stock Yards Bancorp

In related news, Director David P. Heintzman sold 7,659 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $65.98, for a total transaction of $505,340.82. Following the transaction, the director now directly owns 99,411 shares of the company’s stock, valued at $6,559,137.78. This trade represents a 7.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 15,700 shares of company stock worth $1,054,023 over the last three months. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $67.00 to $68.00 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 increased their price objective for the stock from $70.00 to $76.00 in a research report on Friday. Piper Sandler boosted their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $64.00 price target (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.25.

Stock Yards Bancorp Trading Down 1.6 %

Shares of SYBT opened at $73.25 on Friday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 20.12 and a beta of 0.81. 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, Inc. has a 1-year low of $42.35 and a 1-year high of $77.82. The company has a 50-day moving average of $64.52 and a 200 day moving average of $56.55.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results 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. The firm had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a net margin of 21.62% and a return on equity of 12.00%. On average, research analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, September 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.30. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.07%.

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.