Sippican Capital Advisors Acquires 3,121 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Sippican Capital Advisors increased its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,354 shares of the bank’s stock after purchasing an additional 3,121 shares during the period. Sippican Capital Advisors’ holdings in Stock Yards Bancorp were worth $1,076,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Stock Yards Bancorp in the 2nd quarter valued at approximately $45,000. Quantbot Technologies LP bought a new stake in shares of Stock Yards Bancorp during the 1st quarter worth approximately $195,000. Wesbanco Bank Inc. bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $206,000. Ballentine Partners LLC bought a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $219,000. Finally, ProShare Advisors LLC raised its stake in shares of Stock Yards Bancorp by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after purchasing an additional 384 shares in the last quarter. Institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYBT shares. Piper Sandler boosted their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $64.00 target price (up from $54.00) on shares of Stock Yards Bancorp in a report on Thursday, July 25th. Hovde Group lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $67.00 to $68.00 in a report on Thursday, October 24th. Finally, Stephens upped their price objective on Stock Yards Bancorp from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.75.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT traded up $0.12 on Thursday, reaching $65.55. The stock had a trading volume of 1,233 shares, compared to its average volume of 103,786. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a fifty day moving average of $61.50 and a two-hundred day moving average of $54.25. Stock Yards Bancorp, Inc. has a 1-year low of $38.40 and a 1-year high of $67.72. The company has a market cap of $1.93 billion, a P/E ratio of 17.98 and a beta of 0.82.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 23rd. The bank reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The firm had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Stock Yards Bancorp had a return on equity of 12.20% and a net margin of 21.62%. On average, equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 3.75 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, September 16th. Stock Yards Bancorp’s dividend payout ratio is presently 34.07%.

Insider Activity

In related news, Director David P. Heintzman sold 2,341 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the sale, the director now directly owns 97,070 shares in the company, valued at $6,411,473.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director David P. Heintzman sold 2,341 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.05, for a total transaction of $154,623.05. Following the completion of the sale, the director now directly owns 97,070 shares in the company, valued at $6,411,473.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Heintzman sold 7,659 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $65.98, for a total value of $505,340.82. Following the sale, the director now owns 99,411 shares of the company’s stock, valued at approximately $6,559,137.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,700 shares of company stock worth $830,253. 3.90% of the stock is currently owned by company insiders.

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.