Alpha DNA Investment Management LLC Takes Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Alpha DNA Investment Management LLC acquired a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,620 shares of the bank’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYBT. ProShare Advisors LLC raised its position in Stock Yards Bancorp by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 4,879 shares of the bank’s stock worth $239,000 after buying an additional 384 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Stock Yards Bancorp by 85.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,341 shares of the bank’s stock valued at $701,000 after purchasing an additional 6,590 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Stock Yards Bancorp by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,341 shares of the bank’s stock worth $1,142,000 after purchasing an additional 977 shares during the last quarter. Orleans Capital Management Corp LA bought a new stake in Stock Yards Bancorp in the 1st quarter worth approximately $357,000. Finally, SG Americas Securities LLC grew its position in Stock Yards Bancorp by 437.8% in the 2nd quarter. SG Americas Securities LLC now owns 12,138 shares of the bank’s stock worth $603,000 after purchasing an additional 9,881 shares during the period. 56.46% of the stock is owned by institutional investors.

Stock Yards Bancorp Trading Up 3.1 %

NASDAQ:SYBT opened at $76.11 on Monday. Stock Yards Bancorp, Inc. has a one year low of $42.35 and a one year high of $77.82. The business has a fifty day moving average price of $66.06 and a 200-day moving average price of $57.58. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 20.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.94 and a quick ratio of 0.94.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million during the quarter, compared to the consensus estimate of $87.57 million. Sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 3.76 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 34.07%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYBT shares. Stephens cut Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $70.00 to $76.00 in a report on Friday, November 15th. Piper Sandler raised their target price on Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Hovde Group lowered shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the company from $67.00 to $68.00 in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.25.

Insider Activity

In other Stock Yards Bancorp news, EVP Michael Rehm sold 2,650 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $74.81, for a total transaction of $198,246.50. Following the completion of the transaction, the executive vice president now owns 16,927 shares in the company, valued at $1,266,308.87. The trade was a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Heintzman sold 10,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $73.08, for a total value of $730,800.00. Following the completion of the transaction, the director now directly owns 87,070 shares in the company, valued at $6,363,075.60. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,769 shares of company stock worth $2,241,375 over the last quarter. Insiders own 3.90% of the company’s stock.

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.