Independent Solutions Wealth Management LLC Buys New Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Independent Solutions Wealth Management LLC purchased a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,340 shares of the bank’s stock, valued at approximately $207,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its holdings in Stock Yards Bancorp by 7.5% in the 3rd quarter. FMR LLC now owns 2,400 shares of the bank’s stock valued at $149,000 after acquiring an additional 167 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Stock Yards Bancorp by 1.4% during the second quarter. Independence Bank of Kentucky now owns 14,374 shares of the bank’s stock valued at $714,000 after purchasing an additional 202 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Stock Yards Bancorp by 10.3% during the second quarter. Point72 Asset Management L.P. now owns 5,294 shares of the bank’s stock valued at $263,000 after purchasing an additional 494 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Stock Yards Bancorp during the second quarter worth approximately $45,000. Finally, Barlow Wealth Partners Inc. grew its position in Stock Yards Bancorp by 1.7% in the third quarter. Barlow Wealth Partners Inc. now owns 63,717 shares of the bank’s stock worth $3,805,000 after buying an additional 1,069 shares during the last quarter. 56.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stock Yards Bancorp

In related news, President Philip Poindexter sold 3,419 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $75.55, for a total transaction of $258,305.45. Following the completion of the sale, the president now directly owns 51,331 shares in the company, valued at approximately $3,878,057.05. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $198,246.50. Following the sale, the executive vice president now directly owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,614 shares of company stock valued at $2,347,890 over the last three months. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Stock Yards Bancorp Trading Up 0.6 %

NASDAQ SYBT opened at $72.17 on Friday. The firm’s 50 day moving average price is $72.00 and its two-hundred day moving average price is $61.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. Stock Yards Bancorp, Inc. has a twelve month low of $42.35 and a twelve month high of $79.79. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 19.83 and a beta of 0.85.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. The business had revenue of $130.52 million during the quarter, compared to analysts’ expectations of $87.57 million. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. Equities analysts anticipate that Stock Yards Bancorp, Inc. will post 3.8 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.31 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.72%. Stock Yards Bancorp’s dividend payout ratio is 34.07%.

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.