Sei Investments Co. Raises Position in Stock Yards Bancorp, Inc. $SYBT

Sei Investments Co. boosted its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 182.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,087 shares of the bank’s stock after buying an additional 35,592 shares during the period. Sei Investments Co.’s holdings in Stock Yards Bancorp were worth $3,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. increased its stake in Stock Yards Bancorp by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 18,664 shares of the bank’s stock worth $1,306,000 after acquiring an additional 237 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Stock Yards Bancorp by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 4,809 shares of the bank’s stock valued at $312,000 after acquiring an additional 310 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Stock Yards Bancorp by 1.5% during the 2nd quarter. California State Teachers Retirement System now owns 25,710 shares of the bank’s stock valued at $2,031,000 after acquiring an additional 383 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Stock Yards Bancorp by 7.5% during the fourth quarter. Handelsbanken Fonder AB now owns 5,700 shares of the bank’s stock worth $370,000 after purchasing an additional 400 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Stock Yards Bancorp in the third quarter worth approximately $28,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Down 1.0%

Shares of NASDAQ:SYBT opened at $83.93 on Friday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 16.72 and a beta of 0.68. The stock’s 50-day moving average price is $77.47 and its 200-day moving average price is $71.62. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. Stock Yards Bancorp, Inc. has a 12-month low of $61.51 and a 12-month high of $89.21.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%.The company had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $111.66 million. On average, equities analysts anticipate that Stock Yards Bancorp, Inc. will post 5.14 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio is 25.50%.

Analyst Upgrades and Downgrades

SYBT has been the topic of a number of recent analyst reports. Raymond James Financial began coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Stock Yards Bancorp in a report on Friday, July 10th. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $82.00 to $90.00 in a research report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.00.

Insider Buying and Selling

In other Stock Yards Bancorp news, President Philip Poindexter sold 1,221 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This represents a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura L. Wells sold 6,823 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the sale, the director directly owned 9,580 shares in the company, valued at approximately $826,658.20. This trade represents a 41.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.