Stifel Financial Corp Has $4.38 Million Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Stifel Financial Corp lowered its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,176 shares of the bank’s stock after selling 2,780 shares during the quarter. Stifel Financial Corp’s holdings in Stock Yards Bancorp were worth $4,381,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SYBT. Covestor Ltd lifted its stake in shares of Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank’s stock worth $27,000 after buying an additional 232 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Stock Yards Bancorp by 1,077.5% during the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank’s stock worth $34,000 after buying an additional 431 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Stock Yards Bancorp by 115.6% during the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank’s stock worth $35,000 after buying an additional 260 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Stock Yards Bancorp during the 4th quarter worth about $44,000. Finally, Sterling Capital Management LLC lifted its stake in shares of Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank’s stock worth $58,000 after buying an additional 718 shares during the last quarter. Institutional investors and hedge funds own 56.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, April 24th. Piper Sandler set a $81.00 price target on shares of Stock Yards Bancorp and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Stephens raised their price target on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th.

Stock Yards Bancorp Price Performance

NASDAQ:SYBT opened at $73.33 on Friday. Stock Yards Bancorp, Inc. has a 52 week low of $44.36 and a 52 week high of $79.79. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 18.85 and a beta of 0.77. The firm’s 50-day simple moving average is $69.10 and its 200 day simple moving average is $71.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The firm had revenue of $93.63 million for the quarter, compared to analyst estimates of $92.90 million. During the same period last year, the firm earned $0.88 EPS. As a group, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 17th. Stock Yards Bancorp’s dividend payout ratio is currently 29.95%.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David P. Heintzman sold 3,419 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $74.71, for a total value of $255,433.49. Following the transaction, the director now directly owns 83,651 shares of the company’s stock, valued at $6,249,566.21. This trade represents a 3.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.

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.