New York State Common Retirement Fund Sells 4,398 Shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

New York State Common Retirement Fund trimmed its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 17.8% in the 3rd quarter, Holdings Channel reports. The fund owned 20,364 shares of the bank’s stock after selling 4,398 shares during the quarter. New York State Common Retirement Fund’s holdings in Stock Yards Bancorp were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SYBT. Swiss National Bank boosted its position in shares of Stock Yards Bancorp by 12.8% in the second quarter. Swiss National Bank now owns 55,523 shares of the bank’s stock valued at $2,826,000 after acquiring an additional 6,300 shares during the period. WINTON GROUP Ltd raised its stake in shares of Stock Yards Bancorp by 12.6% in the second quarter. WINTON GROUP Ltd now owns 7,757 shares of the bank’s stock valued at $395,000 after purchasing an additional 867 shares in the last quarter. Citigroup Inc. raised its stake in shares of Stock Yards Bancorp by 34.7% in the second quarter. Citigroup Inc. now owns 6,590 shares of the bank’s stock valued at $335,000 after purchasing an additional 1,698 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Stock Yards Bancorp by 2.8% in the second quarter. Principal Financial Group Inc. now owns 18,777 shares of the bank’s stock valued at $956,000 after purchasing an additional 510 shares in the last quarter. Finally, Glenview Trust Co raised its stake in shares of Stock Yards Bancorp by 3.1% in the second quarter. Glenview Trust Co now owns 61,179 shares of the bank’s stock valued at $3,113,000 after purchasing an additional 1,819 shares in the last quarter. 50.29% of the stock is owned by institutional investors.

In other news, Director David P. Heintzman sold 5,000 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $66.06, for a total value of $330,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathy C. Thompson sold 1,599 shares of the firm’s stock in a transaction on Thursday, November 18th. The shares were sold at an average price of $65.36, for a total value of $104,510.64. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

A number of brokerages recently commented on SYBT. Keefe, Bruyette & Woods lowered Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their target price for the company from $59.00 to $67.00 in a research note on Thursday, October 28th. Zacks Investment Research upgraded Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Friday, January 7th.

Stock Yards Bancorp stock opened at $64.95 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a fifty day moving average price of $63.56 and a two-hundred day moving average price of $56.92. Stock Yards Bancorp, Inc. has a 52-week low of $40.76 and a 52-week high of $67.40. The firm has a market capitalization of $1.73 billion, a P/E ratio of 23.20 and a beta of 0.70.

Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Tuesday, October 26th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Stock Yards Bancorp had a return on equity of 16.07% and a net margin of 29.62%. The firm had revenue of $63.10 million during the quarter, compared to analyst estimates of $62.60 million. On average, equities research analysts predict that Stock Yards Bancorp, Inc. will post 3.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Monday, December 20th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, December 17th. This represents a $1.12 annualized dividend and a yield of 1.72%. Stock Yards Bancorp’s dividend payout ratio is currently 40.00%.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc is a holding company, which engages in the provision of commercial and personal banking services. It operates through the Commercial Banking; and Wealth Management and Trust segments. The Commercial Banking segment include mortgage banking and investment products sales activity.

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

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