Oxford Financial Group LTD. LLC Takes $11.06 Million Position in Stock Yards Bancorp, Inc. $SYBT

Oxford Financial Group LTD. LLC acquired a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBTFree Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 144,677 shares of the bank’s stock, valued at approximately $11,063,000. Stock Yards Bancorp comprises 0.6% of Oxford Financial Group LTD. LLC’s portfolio, making the stock its 19th largest position. Oxford Financial Group LTD. LLC owned about 0.47% of Stock Yards Bancorp at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at $165,219,000. Marshall Wace LLP lifted its holdings in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock valued at $11,561,000 after purchasing an additional 155,512 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Stock Yards Bancorp during the second quarter valued at $9,585,000. Thrivent Financial for Lutherans purchased a new stake in shares of Stock Yards Bancorp during the fourth quarter valued at $7,461,000. Finally, Millennium Management LLC boosted its position in shares of Stock Yards Bancorp by 211.2% during the fourth quarter. Millennium Management LLC now owns 131,842 shares of the bank’s stock valued at $8,563,000 after buying an additional 89,470 shares during the last quarter. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SYBT shares. Stephens set a $87.00 target price on Stock Yards Bancorp and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Raymond James Financial began coverage on shares of Stock Yards Bancorp in a research note on Wednesday, July 8th. They issued a “hold” rating for the company. Finally, Weiss Ratings raised shares of Stock Yards Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.00.

Check Out Our Latest Stock Report on Stock Yards Bancorp

Insider Activity

In related news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were 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 of the company’s stock, valued at approximately $826,658.20. This represents a 41.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of Stock Yards Bancorp stock opened at $82.05 on Friday. Stock Yards Bancorp, Inc. has a one year low of $61.51 and a one year high of $89.21. The stock’s fifty day moving average is $79.76 and its 200 day moving average is $72.69. The stock has a market cap of $2.55 billion, a P/E ratio of 16.34 and a beta of 0.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.01 and a current ratio of 1.01.

Stock Yards Bancorp (NASDAQ:SYBTGet Free Report) last released 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. The business had revenue of $114.71 million during 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%. Sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 5.14 earnings per share for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be paid a dividend of $0.33 per share. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, September 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.6%. Stock Yards Bancorp’s dividend payout ratio is presently 25.50%.

Stock Yards Bancorp 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

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

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