Harvey Investment Co. LLC Sells 140 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Harvey Investment Co. LLC lowered its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,667 shares of the bank’s stock after selling 140 shares during the quarter. Harvey Investment Co. LLC’s holdings in Stock Yards Bancorp were worth $2,053,000 at the end of the most recent quarter.

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

Insider Transactions at Stock Yards Bancorp

In other news, EVP Michael Rehm sold 2,650 shares of Stock Yards Bancorp stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.81, for a total transaction of $198,246.50. Following the transaction, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at $1,266,308.87. This trade represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David P. Heintzman sold 3,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at approximately $1,672,199.10. This represents a 14.05 % 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 in the last three months. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

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

Stock Yards Bancorp Price Performance

Stock Yards Bancorp stock opened at $77.50 on Friday. The business’s 50-day simple moving average is $73.78 and its 200 day simple moving average is $66.94. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 19.92 and a beta of 0.86. Stock Yards Bancorp, Inc. has a 12-month low of $42.35 and a 12-month high of $79.79.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.82 EPS. As a group, research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 31.88%.

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.