Baird Financial Group Inc. Trims Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Baird Financial Group Inc. decreased its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 8.3% in the fourth quarter, Holdings Channel reports. The firm owned 52,727 shares of the bank’s stock after selling 4,745 shares during the period. Baird Financial Group Inc.’s holdings in Stock Yards Bancorp were worth $3,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings 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 buying an additional 26,537 shares during the period. JPMorgan Chase & Co. lifted its stake in Stock Yards Bancorp by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank’s stock worth $1,390,000 after acquiring an additional 1,360 shares during the period. SG Americas Securities LLC bought a new position in Stock Yards Bancorp during the 4th quarter worth about $453,000. Baron Silver Stevens Financial Advisors LLC purchased a new position in Stock Yards Bancorp during the 4th quarter valued at about $749,000. Finally, Firethorn Wealth Partners LLC raised 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 purchasing an additional 136 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of SYBT opened at $75.91 on Friday. The company has a 50 day moving average of $69.41 and a two-hundred day moving average of $71.91. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 19.51 and a beta of 0.73. 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 twelve month low of $44.36 and a twelve month high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, April 23rd. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. The firm had revenue of $93.63 million for the quarter, compared to the consensus estimate of $92.90 million. During the same period in the previous year, the business earned $0.88 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp’s payout ratio is currently 29.95%.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 1,581 shares of Stock Yards Bancorp stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $74.00, for a total transaction of $116,994.00. Following the completion of the sale, the director now owns 82,070 shares of the company’s stock, valued at approximately $6,073,180. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYBT has been the topic of several research reports. Stephens lifted their price objective on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target on Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on Stock Yards Bancorp and gave the stock a “neutral” rating in a research note on Thursday, April 24th.

Stock Yards Bancorp Company 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.