Amica Mutual Insurance Co. Acquires Shares of 23,847 Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Amica Mutual Insurance Co. bought a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,847 shares of the bank’s stock, valued at approximately $1,228,000. Amica Mutual Insurance Co. owned 0.08% of Stock Yards Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mutual of America Capital Management LLC grew its holdings in Stock Yards Bancorp by 30.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 128,462 shares of the bank’s stock worth $6,615,000 after acquiring an additional 30,316 shares in the last quarter. Mariner LLC bought a new position in shares of Stock Yards Bancorp during the third quarter valued at approximately $1,048,000. UBS Group AG increased its holdings in Stock Yards Bancorp by 70.4% during the third quarter. UBS Group AG now owns 51,213 shares of the bank’s stock valued at $2,012,000 after buying an additional 21,153 shares during the period. Trexquant Investment LP raised its stake in Stock Yards Bancorp by 145.2% in the third quarter. Trexquant Investment LP now owns 24,251 shares of the bank’s stock worth $953,000 after buying an additional 14,360 shares in the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in Stock Yards Bancorp during the fourth quarter worth $544,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Stock Yards Bancorp stock traded down $0.69 during mid-day trading on Monday, hitting $45.46. The company had a trading volume of 71,090 shares, compared to its average volume of 78,956. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.96 and a beta of 0.81. Stock Yards Bancorp, Inc. has a 12-month low of $36.93 and a 12-month high of $53.15. The company’s fifty day moving average is $45.62 and its 200-day moving average is $46.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 18th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.64%. Stock Yards Bancorp’s payout ratio is 33.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (up previously from $53.00) on shares of Stock Yards Bancorp in a research report on Thursday. Piper Sandler began coverage on shares of Stock Yards Bancorp in a research note on Wednesday, March 6th. They set a “neutral” rating and a $52.00 price objective for the company. Finally, Hovde Group initiated coverage on shares of Stock Yards Bancorp in a research note on Monday, March 4th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

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.