Renaissance Technologies LLC trimmed its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Free Report) by 73.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,611 shares of the bank’s stock after selling 20,941 shares during the period. Renaissance Technologies LLC’s holdings in Stock Yards Bancorp were worth $505,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SYBT. AQR Capital Management LLC raised its stake in Stock Yards Bancorp by 47.4% during the first quarter. AQR Capital Management LLC now owns 7,143 shares of the bank’s stock valued at $493,000 after buying an additional 2,297 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Stock Yards Bancorp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,225 shares of the bank’s stock valued at $1,051,000 after acquiring an additional 658 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Stock Yards Bancorp by 28.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 52,643 shares of the bank’s stock valued at $3,636,000 after acquiring an additional 11,758 shares in the last quarter. Jane Street Group LLC bought a new position in Stock Yards Bancorp during the first quarter worth $3,400,000. Finally, Cetera Investment Advisers bought a new position in Stock Yards Bancorp during the second quarter worth $365,000. 56.46% of the stock is owned by institutional investors.
Insider Buying and Selling at Stock Yards Bancorp
In other news, Director Laura L. Wells sold 6,823 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $86.29, for a total transaction of $588,756.67. Following the completion of the transaction, the director owned 9,580 shares in the company, valued at approximately $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Philip Poindexter sold 1,221 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the sale, the president directly owned 53,376 shares in the company, valued at approximately $3,772,615.68. This trade represents a 2.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.
Stock Yards Bancorp Trading Down 0.9%
Stock Yards Bancorp (NASDAQ:SYBT – Get Free Report) last issued its earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.23. The firm had revenue of $114.71 million for the quarter, compared to analyst estimates of $111.66 million. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%. Equities research analysts predict that Stock Yards Bancorp, Inc. will post 5.14 EPS for the current year.
Analyst Ratings Changes
A number of research firms have commented on SYBT. Keefe, Bruyette & Woods lifted their price objective on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Piper Sandler restated a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Stephens set a $87.00 price target on shares of Stock Yards Bancorp and gave the company an “equal weight” rating in a report on Thursday, July 30th. Raymond James Financial began coverage on shares of Stock Yards Bancorp in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Finally, Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $82.00 to $90.00 in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.00.
Get Our Latest Research Report on Stock Yards Bancorp
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.
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