Norges Bank Purchases New Shares in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Norges Bank acquired a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 80,453 shares of the bank’s stock, valued at approximately $5,761,000.

Several other hedge funds have also modified their holdings of SYBT. Victory Capital Management Inc. raised its holdings in Stock Yards Bancorp by 120.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,074,606 shares of the bank’s stock worth $76,953,000 after purchasing an additional 586,550 shares during the period. Barclays PLC lifted its position in shares of Stock Yards Bancorp by 137.8% during the 3rd quarter. Barclays PLC now owns 45,801 shares of the bank’s stock valued at $2,840,000 after buying an additional 26,537 shares in the last quarter. State Street Corp lifted its holdings in Stock Yards Bancorp by 2.0% during the third quarter. State Street Corp now owns 778,497 shares of the bank’s stock valued at $48,506,000 after purchasing an additional 15,156 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Stock Yards Bancorp in the 4th quarter worth about $954,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Stock Yards Bancorp in the fourth quarter worth approximately $835,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Stock Yards Bancorp Stock Up 5.6 %

SYBT stock opened at $67.31 on Thursday. Stock Yards Bancorp, Inc. has a 12 month low of $42.35 and a 12 month high of $79.79. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 17.30 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $70.72 and a two-hundred day moving average of $70.55.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.31 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.84%. Stock Yards Bancorp’s payout ratio is 31.88%.

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.