New York State Common Retirement Fund decreased its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 17.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,364 shares of the bank’s stock after selling 4,398 shares during the period. New York State Common Retirement Fund owned about 0.08% of Stock Yards Bancorp worth $1,194,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Stock Yards Bancorp during the second quarter valued at $25,000. Lazard Asset Management LLC boosted its holdings in shares of Stock Yards Bancorp by 36.9% during the second quarter. Lazard Asset Management LLC now owns 731 shares of the bank’s stock valued at $37,000 after acquiring an additional 197 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Stock Yards Bancorp during the third quarter valued at $228,000. Squarepoint Ops LLC acquired a new position in shares of Stock Yards Bancorp during the second quarter valued at $229,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Stock Yards Bancorp during the second quarter valued at $261,000. Hedge funds and other institutional investors own 50.29% of the company’s stock.
SYBT stock opened at $64.95 on Friday. The company has a market capitalization of $1.73 billion, a P/E ratio of 23.20 and a beta of 0.70. The company has a 50-day simple moving average of $63.56 and a 200 day simple moving average of $56.92. Stock Yards Bancorp, Inc. has a fifty-two week low of $40.76 and a fifty-two week high of $67.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.02.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Monday, December 20th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, December 17th. Stock Yards Bancorp’s payout ratio is 40.00%.
SYBT has been the subject of several analyst reports. Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Friday, January 7th. Keefe, Bruyette & Woods downgraded shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $59.00 to $67.00 in a report on Thursday, October 28th.
In other Stock Yards Bancorp news, Director David P. Heintzman sold 5,000 shares of the business’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $66.06, for a total transaction of $330,300.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kathy C. Thompson sold 1,599 shares of the business’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $65.36, for a total value of $104,510.64. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc is a holding company, which engages in the provision of commercial and personal banking services. It operates through the Commercial Banking; and Wealth Management and Trust segments. The Commercial Banking segment include mortgage banking and investment products sales activity.
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