German American Bancorp Inc. Takes Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

German American Bancorp Inc. acquired a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,725 shares of the bank’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in Stock Yards Bancorp during the third quarter valued at approximately $30,255,000. American Century Companies Inc. grew its position in shares of Stock Yards Bancorp by 163.4% during the 2nd quarter. American Century Companies Inc. now owns 142,455 shares of the bank’s stock valued at $7,076,000 after acquiring an additional 88,364 shares during the period. Creative Planning grew its position in shares of Stock Yards Bancorp by 534.3% during the 2nd quarter. Creative Planning now owns 43,057 shares of the bank’s stock valued at $2,139,000 after acquiring an additional 36,269 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of Stock Yards Bancorp by 17.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 192,099 shares of the bank’s stock worth $9,542,000 after purchasing an additional 28,400 shares in the last quarter. Finally, RPS Advisory Solutions LLC bought a new position in Stock Yards Bancorp in the 2nd quarter worth $1,358,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $73.28 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $65.43 and its two-hundred day moving average is $57.11. Stock Yards Bancorp, Inc. has a 52 week low of $42.35 and a 52 week high of $77.82. The company has a market capitalization of $2.16 billion, a PE ratio of 20.13 and a beta of 0.81.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. Stock Yards Bancorp had a return on equity of 12.00% and a net margin of 21.62%. The company had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $87.57 million. As a group, analysts expect that Stock Yards Bancorp, Inc. will post 3.76 earnings per share for the current year.

Insider Buying and Selling

In other Stock Yards Bancorp news, Director David P. Heintzman sold 2,341 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $66.05, for a total value of $154,623.05. Following the completion of the sale, the director now directly owns 97,070 shares in the company, valued at $6,411,473.50. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 25,700 shares of company stock worth $1,784,823 in the last three months. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYBT. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $64.00 price target (up previously from $54.00) on shares of Stock Yards Bancorp in a research report on Thursday, July 25th. Hovde Group cut shares of Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $67.00 to $68.00 in a research note on Thursday, October 24th. Stephens lowered shares of Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Piper Sandler increased their price objective on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.25.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.