Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 34.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,890 shares of the bank’s stock after buying an additional 4,368 shares during the period. Wells Fargo & Company MN’s holdings in Stock Yards Bancorp were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SYBT. Barclays PLC increased its holdings 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 worth $2,840,000 after buying an additional 26,537 shares during the last quarter. Independent Solutions Wealth Management LLC acquired a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $207,000. JPMorgan Chase & Co. increased its holdings in shares of Stock Yards Bancorp by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,417 shares of the bank’s stock worth $1,390,000 after buying an additional 1,360 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Stock Yards Bancorp during the 4th quarter worth approximately $453,000. Finally, Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Stock Yards Bancorp during the 4th quarter worth approximately $749,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $74.19 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. Stock Yards Bancorp, Inc. has a fifty-two week low of $44.32 and a fifty-two week high of $79.79. The stock has a market capitalization of $2.19 billion, a P/E ratio of 19.07 and a beta of 0.77. The company has a 50 day moving average price of $69.11 and a 200 day moving average price of $71.41.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.00 by $0.13. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. The company had revenue of $93.63 million during the quarter, compared to analysts’ expectations of $92.90 million. During the same quarter last year, the company posted $0.88 EPS. Equities research analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a $0.31 dividend. The ex-dividend date was Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.67%. Stock Yards Bancorp’s dividend payout ratio is presently 29.95%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SYBT. Keefe, Bruyette & Woods lowered their price objective on shares of Stock Yards Bancorp from $84.00 to $80.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Stephens increased their price objective on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Finally, Piper Sandler set a $81.00 price objective on shares of Stock Yards Bancorp and gave the stock a “neutral” rating in a research report on Thursday.

About Stock Yards Bancorp

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.