Wells Fargo & Company MN Acquires 8,456 Shares of Stock Yards Bancorp Inc (SYBT)

Wells Fargo & Company MN increased its holdings in Stock Yards Bancorp Inc (NASDAQ:SYBT) by 33.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 33,506 shares of the bank’s stock after purchasing an additional 8,456 shares during the quarter. Wells Fargo & Company MN’s holdings in Stock Yards Bancorp were worth $1,273,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Neuberger Berman Group LLC raised its stake in Stock Yards Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after buying an additional 46 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Stock Yards Bancorp by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 91,888 shares of the bank’s stock worth $3,575,000 after buying an additional 788 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Stock Yards Bancorp by 1.8% in the second quarter. Parametric Portfolio Associates LLC now owns 47,245 shares of the bank’s stock worth $1,838,000 after buying an additional 840 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Stock Yards Bancorp by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 98,638 shares of the bank’s stock worth $3,837,000 after buying an additional 841 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Stock Yards Bancorp by 7.4% in the second quarter. Voya Investment Management LLC now owns 13,637 shares of the bank’s stock worth $530,000 after buying an additional 945 shares in the last quarter. 47.66% of the stock is owned by institutional investors.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, December 6th. BidaskClub downgraded shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th.

Stock Yards Bancorp Inc (NASDAQ SYBT) opened at $37.95 on Tuesday. The company has a market cap of $864.88, a P/E ratio of 19.97 and a beta of 0.69. Stock Yards Bancorp Inc has a 12 month low of $31.90 and a 12 month high of $46.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $37.27 million during the quarter, compared to the consensus estimate of $37.81 million. Stock Yards Bancorp had a net margin of 28.57% and a return on equity of 13.51%. During the same quarter in the previous year, the firm posted $0.46 earnings per share. analysts forecast that Stock Yards Bancorp Inc will post 1.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 11th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 8th. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.21%. Stock Yards Bancorp’s dividend payout ratio is presently 44.21%.

In other Stock Yards Bancorp news, Director Paul J. Bickel III purchased 2,510 shares of Stock Yards Bancorp stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average cost of $38.15 per share, with a total value of $95,756.50. Following the completion of the transaction, the director now owns 4,250 shares in the company, valued at approximately $162,137.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kathy C. Thompson sold 2,284 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $39.62, for a total value of $90,492.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,128 shares of company stock worth $119,800 and have sold 9,372 shares worth $365,453. Corporate insiders own 6.20% of the company’s stock.

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About Stock Yards Bancorp

Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.

Want to see what other hedge funds are holding SYBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stock Yards Bancorp Inc (NASDAQ:SYBT).

Institutional Ownership by Quarter for Stock Yards Bancorp (NASDAQ:SYBT)

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