Kentucky Trust Co Takes $44,000 Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Kentucky Trust Co bought a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 612 shares of the bank’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYBT. Firethorn Wealth Partners LLC lifted its stake in shares of Stock Yards Bancorp by 0.9% during the 4th quarter. Firethorn Wealth Partners LLC now owns 14,633 shares of the bank’s stock valued at $1,048,000 after buying an additional 136 shares in the last quarter. FMR LLC lifted its stake in shares of Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after buying an additional 167 shares in the last quarter. Sippican Capital Advisors lifted its stake in shares of Stock Yards Bancorp by 2.8% during the 4th quarter. Sippican Capital Advisors now owns 17,844 shares of the bank’s stock valued at $1,278,000 after buying an additional 490 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Stock Yards Bancorp by 24.9% during the 4th quarter. Blue Trust Inc. now owns 5,011 shares of the bank’s stock valued at $359,000 after buying an additional 1,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Stock Yards Bancorp by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank’s stock valued at $1,390,000 after buying an additional 1,360 shares in the last quarter. 56.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYBT has been the topic of a number of recent research reports. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $67.00 to $68.00 in a research note on Thursday, October 24th. Stephens cut shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Piper Sandler upped their price target on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th.

Insider Transactions at Stock Yards Bancorp

In other news, President Philip Poindexter sold 3,419 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $75.55, for a total value of $258,305.45. Following the transaction, the president now owns 51,331 shares of the company’s stock, valued at $3,878,057.05. This represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Heintzman sold 10,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $73.08, for a total transaction of $730,800.00. Following the completion of the transaction, the director now directly owns 87,070 shares in the company, valued at $6,363,075.60. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,614 shares of company stock valued at $1,464,156 in the last quarter. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $74.69 on Thursday. Stock Yards Bancorp, Inc. has a 1 year low of $42.35 and a 1 year high of $79.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $2.20 billion, a PE ratio of 19.20 and a beta of 0.86. The company’s 50 day simple moving average is $73.68 and its two-hundred day simple moving average is $67.40.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same period in the previous year, the firm posted $0.82 EPS. Analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.66%. The ex-dividend date was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio is presently 31.88%.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.