Sippican Capital Advisors Grows Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Sippican Capital Advisors grew its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,844 shares of the bank’s stock after acquiring an additional 490 shares during the quarter. Sippican Capital Advisors owned 0.06% of Stock Yards Bancorp worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in Stock Yards Bancorp during the third quarter worth about $30,255,000. Meridian Wealth Management LLC bought a new position in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $9,082,000. Creative Planning boosted its stake in shares of Stock Yards Bancorp by 534.3% in the 2nd quarter. Creative Planning now owns 43,057 shares of the bank’s stock worth $2,139,000 after buying an additional 36,269 shares during the last quarter. Barclays PLC grew its holdings in shares of Stock Yards Bancorp by 137.8% in the third quarter. Barclays PLC now owns 45,801 shares of the bank’s stock valued at $2,840,000 after acquiring an additional 26,537 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its position in shares of Stock Yards Bancorp by 22.5% during the third quarter. Aptus Capital Advisors LLC now owns 94,956 shares of the bank’s stock valued at $5,886,000 after acquiring an additional 17,469 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Stock Yards Bancorp Trading Down 0.1 %

Shares of SYBT opened at $75.20 on Thursday. The firm has a market cap of $2.21 billion, a P/E ratio of 19.33 and a beta of 0.86. Stock Yards Bancorp, Inc. has a fifty-two week low of $42.35 and a fifty-two week high of $79.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50-day moving average of $73.96 and a 200 day moving average of $66.23.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a net margin of 22.54% and a return on equity of 12.71%. During the same period last year, the company earned $0.82 EPS. As a group, research analysts forecast that Stock Yards Bancorp, Inc. will post 4.03 EPS for the current year.

Stock Yards Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, December 16th. Stock Yards Bancorp’s dividend payout ratio is presently 31.88%.

Insiders Place Their Bets

In related news, Director David P. Heintzman sold 3,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $78.10, for a total value of $273,350.00. Following the sale, the director now owns 21,411 shares in the company, valued at approximately $1,672,199.10. This trade represents a 14.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Rehm sold 2,650 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $74.81, for a total value of $198,246.50. Following the transaction, the executive vice president now owns 16,927 shares of the company’s stock, valued at approximately $1,266,308.87. The trade was a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,614 shares of company stock worth $1,687,926 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SYBT shares. Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company 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 lifted their price objective for the stock from $70.00 to $76.00 in a research report on Friday, November 15th. Finally, Piper Sandler increased their target price on shares of Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th.

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.