Stock Yards Bancorp, Inc. $SYBT Stock Purchased by Glenview Trust Co

Glenview Trust Co boosted its stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 14.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,763 shares of the bank’s stock after purchasing an additional 8,062 shares during the quarter. Glenview Trust Co’s holdings in Stock Yards Bancorp were worth $5,070,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Stock Yards Bancorp in the second quarter worth about $31,000. Versant Capital Management Inc raised its holdings in shares of Stock Yards Bancorp by 145.8% during the third quarter. Versant Capital Management Inc now owns 413 shares of the bank’s stock valued at $32,000 after acquiring an additional 245 shares during the period. Allworth Financial LP acquired a new stake in shares of Stock Yards Bancorp during the second quarter valued at approximately $73,000. Fifth Third Bancorp acquired a new stake in shares of Stock Yards Bancorp during the first quarter valued at approximately $85,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Stock Yards Bancorp in the 2nd quarter valued at approximately $123,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Trading Down 0.3%

NASDAQ:SYBT opened at $78.43 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.01. Stock Yards Bancorp, Inc. has a fifty-two week low of $61.51 and a fifty-two week high of $89.21. The stock’s 50-day moving average is $78.29 and its two-hundred day moving average is $73.82. The stock has a market cap of $2.44 billion, a PE ratio of 15.11 and a beta of 0.74.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, October 28th. The bank reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The company had revenue of $120.32 million for the quarter, compared to the consensus estimate of $119.31 million. Stock Yards Bancorp had a return on equity of 13.73% and a net margin of 25.89%. As a group, equities research analysts forecast that Stock Yards Bancorp, Inc. will post 5.20 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, September 21st. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Stock Yards Bancorp’s payout ratio is presently 25.43%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $87.00 price objective (down from $90.00) on shares of Stock Yards Bancorp in a research note on Thursday. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $82.00 to $90.00 in a research report on Thursday, July 30th. Weiss Ratings raised shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.50.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc (NASDAQ:SYBT) is a financial holding company headquartered in Louisville, Kentucky. It is the parent company of Stock Yards Bank & Trust Company, a full-service community bank founded in 1904.

Through Stock Yards Bank & Trust, the company provides commercial and retail banking services to individuals, businesses, and institutions. Its offerings include deposit accounts, commercial and consumer lending, residential mortgage lending, treasury management, online and mobile banking, and other traditional banking products.

The company also provides wealth management, trust, investment management, and brokerage services.