Sequoia Financial Advisors LLC Makes New Investment in Stock Yards Bancorp, Inc. $SYBT

Sequoia Financial Advisors LLC purchased a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,404 shares of the bank’s stock, valued at approximately $1,638,000. Sequoia Financial Advisors LLC owned approximately 0.08% of Stock Yards Bancorp as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. boosted its holdings in Stock Yards Bancorp by 1,496.7% in the second quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock valued at $9,216,000 after purchasing an additional 109,382 shares during the period. Jane Street Group LLC acquired a new stake in Stock Yards Bancorp in the 1st quarter valued at about $3,400,000. Marshall Wace LLP purchased a new position in shares of Stock Yards Bancorp in the 2nd quarter valued at about $2,065,000. Squarepoint Ops LLC grew its position in shares of Stock Yards Bancorp by 412.3% during the second quarter. Squarepoint Ops LLC now owns 32,114 shares of the bank’s stock worth $2,536,000 after buying an additional 25,845 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new position in shares of Stock Yards Bancorp during the second quarter worth about $1,412,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Price Performance

SYBT stock opened at $71.06 on Thursday. The firm has a market cap of $2.09 billion, a P/E ratio of 15.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 0.99. Stock Yards Bancorp, Inc. has a 1 year low of $60.75 and a 1 year high of $83.83. The stock has a 50-day simple moving average of $66.94 and a 200-day simple moving average of $71.46.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. Stock Yards Bancorp had a return on equity of 13.65% and a net margin of 24.50%.The firm had revenue of $101.60 million for the quarter, compared to analyst estimates of $100.00 million. On average, equities analysts predict that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.32 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. Stock Yards Bancorp’s dividend payout ratio is 27.95%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Stock Yards Bancorp currently has an average rating of “Hold” and an average price target of $83.67.

Insider Buying and Selling at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David L. Hardy bought 2,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $66.53 per share, for a total transaction of $133,060.00. Following the completion of the purchase, the director directly owned 2,000 shares of the company’s stock, valued at approximately $133,060. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by corporate insiders.

Stock Yards Bancorp Company Profile

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.