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 (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.
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.
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