Thrivent Financial for Lutherans Takes $7.46 Million Position in Stock Yards Bancorp, Inc. $SYBT

Thrivent Financial for Lutherans purchased a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 114,872 shares of the bank’s stock, valued at approximately $7,461,000.

A number of other institutional investors also recently modified their holdings of SYBT. Quarry LP bought a new position in shares of Stock Yards Bancorp in the third quarter valued at approximately $28,000. Brown Brothers Harriman & Co. bought a new position in shares of Stock Yards Bancorp in the third quarter valued at approximately $45,000. GAMMA Investing LLC raised its position in shares of Stock Yards Bancorp by 92.1% in the fourth quarter. GAMMA Investing LLC now owns 826 shares of the bank’s stock valued at $54,000 after purchasing an additional 396 shares during the period. Huntington National Bank raised its position in shares of Stock Yards Bancorp by 15.0% in the third quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock valued at $87,000 after purchasing an additional 163 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in shares of Stock Yards Bancorp in the third quarter valued at approximately $92,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Trading Up 1.2%

Shares of SYBT stock opened at $71.02 on Thursday. Stock Yards Bancorp, Inc. has a 1 year low of $61.51 and a 1 year high of $83.83. The firm’s fifty day simple moving average is $68.48 and its 200 day simple moving average is $67.64. The firm has a market capitalization of $2.10 billion, a P/E ratio of 14.61 and a beta of 0.70. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. Stock Yards Bancorp had a net margin of 25.06% and a return on equity of 13.58%. The business had revenue of $102.63 million for the quarter, compared to analyst estimates of $108.18 million. As a group, sell-side analysts predict that Stock Yards Bancorp, Inc. will post 5.1 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. Stock Yards Bancorp’s dividend payout ratio is currently 26.34%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SYBT shares. Weiss Ratings raised shares of Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Stephens boosted their target price on shares of Stock Yards Bancorp from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $78.00 target price (up from $76.00) on shares of Stock Yards Bancorp in a research report on Monday, April 27th. Finally, Hovde Group raised shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, March 6th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.00.

Check Out Our Latest Report on Stock Yards Bancorp

Stock Yards Bancorp Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Stock Yards Bancorp (NASDAQ:SYBT)

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