Alpha DNA Investment Management LLC Invests $472,000 in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Alpha DNA Investment Management LLC bought a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,620 shares of the bank’s stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SYBT. Stock Yards Bank & Trust Co. raised its stake in shares of 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 worth $60,755,000 after buying an additional 9,573 shares during the period. Dimensional Fund Advisors LP increased its holdings in Stock Yards Bancorp by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after acquiring an additional 24,856 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Stock Yards Bancorp during the third quarter worth $30,255,000. Curi RMB Capital LLC lifted its holdings in Stock Yards Bancorp by 3.9% during the third quarter. Curi RMB Capital LLC now owns 250,369 shares of the bank’s stock valued at $15,520,000 after purchasing an additional 9,291 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Stock Yards Bancorp by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 219,027 shares of the bank’s stock valued at $13,577,000 after purchasing an additional 3,531 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, President Philip Poindexter sold 3,419 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the transaction, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the sale, the executive vice president now owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,769 shares of company stock worth $2,241,375. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Trading Up 3.1 %

SYBT opened at $76.11 on Monday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. The company’s 50 day simple moving average is $66.06 and its two-hundred day simple moving average is $57.58. Stock Yards Bancorp, Inc. has a 1-year low of $42.35 and a 1-year high of $77.82. 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 posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The business had revenue of $130.52 million for the quarter, compared to analyst estimates of $87.57 million. Analysts expect that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Monday, December 16th. Stock Yards Bancorp’s payout ratio is presently 34.07%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stephens downgraded shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Piper Sandler increased their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.25.

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.