Deprince Race & Zollo Inc. raised its holdings in Stock Yards Bancorp Inc (NASDAQ:SYBT) by 6.3% in the third quarter, HoldingsChannel.com reports. The fund owned 82,933 shares of the bank’s stock after buying an additional 4,883 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Stock Yards Bancorp were worth $3,010,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Stock Yards Bank & Trust Co. lifted its holdings in Stock Yards Bancorp by 10.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 1,006,160 shares of the bank’s stock valued at $36,523,000 after acquiring an additional 92,360 shares during the period. American Research & Management Co. lifted its holdings in Stock Yards Bancorp by 57.4% in the third quarter. American Research & Management Co. now owns 36,125 shares of the bank’s stock valued at $1,311,000 after acquiring an additional 13,175 shares during the period. Schroder Investment Management Group lifted its holdings in Stock Yards Bancorp by 61.2% in the second quarter. Schroder Investment Management Group now owns 12,992 shares of the bank’s stock valued at $501,000 after acquiring an additional 4,934 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Stock Yards Bancorp in the second quarter valued at $1,303,000. Finally, California Public Employees Retirement System acquired a new stake in Stock Yards Bancorp in the second quarter valued at $1,332,000. 47.55% of the stock is owned by institutional investors.
A number of equities research analysts have commented on the company. BidaskClub raised Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. ValuEngine downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Zacks Investment Research raised Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Saturday, July 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.00.
Stock Yards Bancorp stock opened at $34.31 on Thursday. Stock Yards Bancorp Inc has a one year low of $33.30 and a one year high of $41.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $825.73 million, a price-to-earnings ratio of 17.85 and a beta of 0.52.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, July 25th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Stock Yards Bancorp had a return on equity of 14.66% and a net margin of 26.61%. The company had revenue of $40.11 million during the quarter, compared to the consensus estimate of $39.04 million. On average, analysts predict that Stock Yards Bancorp Inc will post 2.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, September 14th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.23. Stock Yards Bancorp’s payout ratio is 52.36%.
In other news, CEO David P. Heintzman sold 2,571 shares of Stock Yards Bancorp stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $38.90, for a total transaction of $100,011.90. Following the completion of the transaction, the chief executive officer now owns 170,552 shares of the company’s stock, valued at approximately $6,634,472.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul J. Bickel III purchased 1,000 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were purchased at an average cost of $36.00 per share, with a total value of $36,000.00. Following the purchase, the director now directly owns 6,725 shares in the company, valued at $242,100. The disclosure for this purchase can be found here. Insiders have bought a total of 2,765 shares of company stock valued at $102,006 in the last ninety days. Corporate insiders own 8.42% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, certificates of deposit, money market deposits, and time deposits.
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