Walthausen & Co. LLC cut its holdings in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,288 shares of the bank’s stock after selling 1,384 shares during the quarter. Walthausen & Co. LLC owned approximately 1.22% of Stock Yards Bancorp worth $10,748,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Stock Yards Bancorp by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,502 shares of the bank’s stock valued at $224,000 after buying an additional 15 shares in the last quarter. Alps Advisors Inc. raised its position in Stock Yards Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,214 shares of the bank’s stock valued at $436,000 after purchasing an additional 29 shares during the last quarter. Neuberger Berman Group LLC raised its position in Stock Yards Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock valued at $223,000 after purchasing an additional 46 shares during the last quarter. US Bancorp DE raised its position in Stock Yards Bancorp by 1.2% in the second quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock valued at $155,000 after purchasing an additional 47 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Stock Yards Bancorp by 1.7% in the second quarter. Wells Fargo & Company MN now owns 25,050 shares of the bank’s stock valued at $975,000 after purchasing an additional 416 shares during the last quarter. 48.13% of the stock is currently owned by institutional investors and hedge funds.
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Several research firms have commented on SYBT. BidaskClub downgraded Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 29th.
Stock Yards Bancorp, Inc. (NASDAQ:SYBT) traded up 0.26% during trading on Tuesday, reaching $37.85. The company’s stock had a trading volume of 15,349 shares. The stock has a 50-day moving average price of $35.59 and a 200 day moving average price of $37.53. The company has a market cap of $857.64 million, a PE ratio of 20.57 and a beta of 0.69. Stock Yards Bancorp, Inc. has a 52-week low of $31.90 and a 52-week high of $48.05.
Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Stock Yards Bancorp had a return on equity of 13.36% and a net margin of 28.11%. The firm had revenue of $36.91 million during the quarter, compared to analysts’ expectations of $37.06 million. On average, analysts expect that Stock Yards Bancorp, Inc. will post $1.90 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, September 8th. Stock Yards Bancorp’s payout ratio is currently 43.24%.
In other news, insider Kathy C. Thompson sold 1,466 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $35.08, for a total value of $51,427.28. Following the completion of the transaction, the insider now directly owns 40,161 shares in the company, valued at approximately $1,408,847.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip Poindexter sold 850 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $35.26, for a total value of $29,971.00. Following the completion of the transaction, the insider now owns 23,132 shares of the company’s stock, valued at $815,634.32. The disclosure for this sale can be found here. Over the last quarter, insiders bought 431 shares of company stock valued at $15,495 and sold 6,132 shares valued at $217,921. 6.20% of the stock is currently owned by corporate insiders.
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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