Sei Investments Co. Acquires 35,592 Shares of Stock Yards Bancorp, Inc. $SYBT

Sei Investments Co. increased its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 182.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 55,087 shares of the bank’s stock after buying an additional 35,592 shares during the quarter. Sei Investments Co. owned 0.19% of Stock Yards Bancorp worth $3,652,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Stock Yards Bancorp during the third quarter worth about $28,000. Brown Brothers Harriman & Co. purchased a new position in Stock Yards Bancorp in the third quarter valued at about $45,000. Empowered Funds LLC bought a new position in shares of Stock Yards Bancorp during the 4th quarter valued at approximately $60,000. Covestor Ltd grew its position in shares of Stock Yards Bancorp by 138.4% during the 4th quarter. Covestor Ltd now owns 1,168 shares of the bank’s stock valued at $76,000 after acquiring an additional 678 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in shares of Stock Yards Bancorp during the 1st quarter worth approximately $85,000. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Trading Down 1.0%

Shares of SYBT stock opened at $83.93 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 16.72 and a beta of 0.68. The company’s fifty day simple moving average is $77.47 and its two-hundred day simple moving average is $71.62. Stock Yards Bancorp, Inc. has a 1 year low of $61.51 and a 1 year high of $89.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.01 and a quick ratio of 1.00.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.23. Stock Yards Bancorp had a return on equity of 13.39% and a net margin of 25.41%.The company had revenue of $114.71 million during the quarter, compared to analysts’ expectations of $111.66 million. As a group, analysts anticipate that Stock Yards Bancorp, Inc. will post 5.14 earnings per share for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.28 annualized dividend and a yield of 1.5%. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 25.50%.

Insider Transactions at Stock Yards Bancorp

In other news, Director Laura L. Wells sold 6,823 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $86.29, for a total value of $588,756.67. Following the sale, the director directly owned 9,580 shares of the company’s stock, valued at approximately $826,658.20. This represents a 41.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Philip Poindexter sold 1,221 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $70.68, for a total transaction of $86,300.28. Following the completion of the transaction, the president owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

SYBT has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Piper Sandler reissued a “neutral” rating and issued a $81.00 target price (up from $78.00) on shares of Stock Yards Bancorp in a research report on Friday, June 26th. Wall Street Zen upgraded Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Stephens set a $87.00 price target on Stock Yards Bancorp and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stock Yards Bancorp in a research note on Friday, July 10th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Stock Yards Bancorp has a consensus rating of “Hold” and an average price target of $88.00.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.