Deutsche Bank AG Purchases New Holdings in Stock Yards Bancorp, Inc. $SYBT

Deutsche Bank AG acquired a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 28,989 shares of the bank’s stock, valued at approximately $2,217,000.

Several other large investors have also recently bought and sold shares of SYBT. Sei Investments Co. boosted its stake in shares of Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after purchasing an additional 35,592 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Stock Yards Bancorp by 11.4% during the first quarter. Deprince Race & Zollo Inc. now owns 126,497 shares of the bank’s stock worth $8,385,000 after buying an additional 12,937 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Stock Yards Bancorp in the first quarter valued at approximately $1,677,000. Natixis Advisors LLC boosted its stake in Stock Yards Bancorp by 8.9% in the fourth quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock valued at $10,274,000 after acquiring an additional 12,976 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in Stock Yards Bancorp in the fourth quarter valued at approximately $7,461,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $86.29, for a total value of $588,756.67. Following the completion of the sale, the director directly owned 9,580 shares in the company, valued at $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Stock Yards Bancorp Trading Down 0.3%

Shares of NASDAQ SYBT opened at $79.73 on Friday. The company’s fifty day moving average is $80.47 and its 200-day moving average is $73.09. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 15.88 and a beta of 0.68. Stock Yards Bancorp, Inc. has a twelve month low of $61.51 and a twelve month high of $89.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26.

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. The company had revenue of $114.71 million during the quarter, compared to analyst estimates of $111.66 million. Equities research analysts predict that Stock Yards Bancorp, Inc. will post 5.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, September 21st. This is a positive change 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 25.50%.

Analysts Set New Price Targets

SYBT has been the subject of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Keefe, Bruyette & Woods increased their price target on Stock Yards Bancorp from $82.00 to $94.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Raymond James Financial assumed coverage on Stock Yards Bancorp in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $88.00.

Check Out Our Latest Research Report on SYBT

About Stock Yards Bancorp

(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

Want to see what other hedge funds are holding SYBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report).

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

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