Firethorn Wealth Partners LLC Increases Holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Firethorn Wealth Partners LLC lifted its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,633 shares of the bank’s stock after buying an additional 136 shares during the period. Firethorn Wealth Partners LLC’s holdings in Stock Yards Bancorp were worth $1,048,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Stock Yards Bancorp by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 936,919 shares of the bank’s stock worth $46,536,000 after purchasing an additional 24,856 shares during the period. State Street Corp increased its stake in Stock Yards Bancorp by 2.0% in the 3rd quarter. State Street Corp now owns 778,497 shares of the bank’s stock worth $48,506,000 after purchasing an additional 15,156 shares during the period. Geode Capital Management LLC increased its stake in Stock Yards Bancorp by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 636,744 shares of the bank’s stock worth $39,480,000 after purchasing an additional 5,391 shares during the period. Victory Capital Management Inc. purchased a new position in Stock Yards Bancorp in the 3rd quarter worth approximately $30,255,000. Finally, Curi RMB Capital LLC grew its position in shares of Stock Yards Bancorp by 3.9% in the 3rd quarter. Curi RMB Capital LLC now owns 250,369 shares of the bank’s stock worth $15,520,000 after buying an additional 9,291 shares during the last quarter. 56.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYBT. Stephens lowered Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $67.00 to $68.00 in a research report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th.

Stock Yards Bancorp Trading Up 1.2 %

NASDAQ SYBT opened at $75.00 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.79. The firm has a market capitalization of $2.21 billion, a PE ratio of 19.28 and a beta of 0.86. The stock’s 50 day moving average is $73.85 and its 200 day moving average is $65.62.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter last year, the firm earned $0.82 EPS. Research analysts forecast that Stock Yards Bancorp, Inc. will post 4.03 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 31.88%.

Insiders Place Their Bets

In related news, Director David P. Heintzman sold 3,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.10, for a total transaction of $273,350.00. Following the completion of the sale, the director now owns 21,411 shares in the company, valued at approximately $1,672,199.10. This represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rehm sold 2,650 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total value of $198,246.50. Following the sale, the executive vice president now owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. This trade represents a 13.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,955 shares of company stock valued at $1,842,549. 3.90% of the stock is currently owned by corporate insiders.

Stock Yards Bancorp Profile

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.