Money Concepts Capital Corp Takes Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Money Concepts Capital Corp acquired a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,508 shares of the bank’s stock, valued at approximately $824,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYBT. Quantbot Technologies LP grew its position in shares of Stock Yards Bancorp by 151.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after buying an additional 1,367 shares during the period. FMR LLC boosted its stake in Stock Yards Bancorp by 7.5% during the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after acquiring an additional 167 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in Stock Yards Bancorp during the third quarter valued at approximately $206,000. Independent Solutions Wealth Management LLC bought a new stake in Stock Yards Bancorp in the third quarter valued at approximately $207,000. Finally, Ballentine Partners LLC acquired a new stake in Stock Yards Bancorp in the third quarter worth $219,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Trading Up 2.6 %

SYBT opened at $76.77 on Thursday. The stock has a market capitalization of $2.26 billion, a P/E ratio of 19.74 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $79.79. The firm’s fifty day simple moving average is $73.77 and its 200 day simple moving average is $66.87.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $0.82 EPS. As a group, research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.62%. Stock Yards Bancorp’s dividend payout ratio is currently 31.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $67.00 to $68.00 in a report on Thursday, October 24th. Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Finally, Piper Sandler raised their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th.

Insider Activity

In other news, President Philip Poindexter sold 3,419 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the transaction, the president now directly owns 51,331 shares in the company, valued at $3,878,057.05. This represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David P. Heintzman sold 10,000 shares of Stock Yards Bancorp stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $73.08, for a total value of $730,800.00. Following the completion of the sale, the director now directly owns 87,070 shares in the company, valued at approximately $6,363,075.60. This represents 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 worth $1,464,156 over the last ninety days. Insiders own 3.90% of the company’s stock.

Stock Yards Bancorp Company 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.