Deutsche Bank AG acquired a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT – Free 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%
Stock Yards Bancorp (NASDAQ:SYBT – Get 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
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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