Parametric Portfolio Associates LLC decreased its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,405 shares of the bank’s stock after selling 1,744 shares during the period. Parametric Portfolio Associates LLC owned 0.20% of Stock Yards Bancorp worth $1,886,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SYBT. Karp Capital Management Corp acquired a new stake in shares of Stock Yards Bancorp during the first quarter worth $371,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Stock Yards Bancorp during the first quarter worth approximately $228,000. Swiss National Bank raised its stake in shares of Stock Yards Bancorp by 2.3% in the first quarter. Swiss National Bank now owns 35,323 shares of the bank’s stock worth $1,436,000 after buying an additional 800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Stock Yards Bancorp by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 183,644 shares of the bank’s stock worth $7,465,000 after buying an additional 7,443 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Stock Yards Bancorp by 9.6% in the first quarter. First Trust Advisors LP now owns 41,792 shares of the bank’s stock worth $1,699,000 after buying an additional 3,650 shares during the last quarter. Hedge funds and other institutional investors own 48.62% of the company’s stock.
Stock Yards Bancorp, Inc. (SYBT) traded up 0.28% during trading on Tuesday, reaching $35.75. The company had a trading volume of 28,201 shares. The firm’s 50 day moving average is $37.43 and its 200-day moving average is $40.40. The company has a market capitalization of $810.17 million, a P/E ratio of 19.43 and a beta of 0.66. Stock Yards Bancorp, Inc. has a 12 month low of $29.22 and a 12 month high of $48.05.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The business had revenue of $36.91 million during the quarter, compared to analyst estimates of $37.06 million. Stock Yards Bancorp had a net margin of 28.11% and a return on equity of 13.48%. On average, equities analysts expect that Stock Yards Bancorp, Inc. will post $1.90 earnings per share for the current year.
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Several brokerages have recently weighed in on SYBT. Zacks Investment Research raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 15th. BidaskClub downgraded Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Hilliard Lyons upgraded Stock Yards Bancorp from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a research report on Thursday, May 25th.
In other Stock Yards Bancorp news, CEO David P. Heintzman sold 2,541 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $39.35, for a total transaction of $99,988.35. Following the completion of the transaction, the chief executive officer now owns 169,309 shares in the company, valued at $6,662,309.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David P. Heintzman sold 1,314 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $38.05, for a total transaction of $49,997.70. Following the transaction, the chief executive officer now owns 169,309 shares of the company’s stock, valued at approximately $6,442,207.45. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 244 shares of company stock worth $9,042 and sold 6,712 shares worth $258,567. Company insiders own 6.20% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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