Deprince Race & Zollo Inc. Grows Holdings in Stock Yards Bancorp, Inc. $SYBT

Deprince Race & Zollo Inc. lifted its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 11.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 126,497 shares of the bank’s stock after purchasing an additional 12,937 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Stock Yards Bancorp were worth $8,385,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. increased its holdings in Stock Yards Bancorp by 37.7% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 1,338,377 shares of the bank’s stock valued at $86,928,000 after purchasing an additional 366,475 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in Stock Yards Bancorp by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 187,691 shares of the bank’s stock worth $12,191,000 after purchasing an additional 816 shares in the last quarter. Bank of America Corp DE lifted its stake in Stock Yards Bancorp by 47.2% during the third quarter. Bank of America Corp DE now owns 183,724 shares of the bank’s stock worth $12,859,000 after purchasing an additional 58,942 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Stock Yards Bancorp by 691.5% during the fourth quarter. Marshall Wace LLP now owns 178,002 shares of the bank’s stock worth $11,561,000 after buying an additional 155,512 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Stock Yards Bancorp by 8.9% during the fourth quarter. Natixis Advisors LLC now owns 158,189 shares of the bank’s stock worth $10,274,000 after buying an additional 12,976 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $78.15 on Friday. The firm has a market capitalization of $2.31 billion, a PE ratio of 16.08 and a beta of 0.68. The business’s fifty day moving average price is $72.55 and its 200 day moving average price is $69.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. Stock Yards Bancorp, Inc. has a 12 month low of $61.51 and a 12 month high of $83.83.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The company had revenue of $102.63 million during the quarter, compared to the consensus estimate of $108.18 million. Stock Yards Bancorp had a return on equity of 13.58% and a net margin of 25.06%. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 5.1 earnings per share for the current fiscal year.

Stock Yards Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Stock Yards Bancorp’s dividend payout ratio (DPR) is 26.34%.

Insider Buying and Selling at Stock Yards Bancorp

In related news, President Philip Poindexter sold 1,221 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $70.68, for a total value of $86,300.28. Following the completion of the transaction, the president directly owned 53,376 shares of the company’s stock, valued at $3,772,615.68. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SYBT. Piper Sandler reiterated a “neutral” rating and issued a $81.00 price objective (up from $78.00) on shares of Stock Yards Bancorp in a report on Friday, June 26th. Keefe, Bruyette & Woods raised their target price on Stock Yards Bancorp from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Stephens lifted their target price on Stock Yards Bancorp from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 23rd. Zacks Research lowered shares of Stock Yards Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings raised Stock Yards Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stock Yards Bancorp presently has a consensus rating of “Hold” and a consensus price target of $76.75.

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.