Bank of New York Mellon Corp boosted its stake in shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) by 51.8% during the second quarter, Holdings Channel reports. The fund owned 148,634 shares of the company’s stock after buying an additional 50,735 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Stock Yards Bancorp worth $4,197,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. American Research & Management Co. increased its stake in shares of Stock Yards Bancorp by 138.9% in the second quarter. American Research & Management Co. now owns 4,300 shares of the company’s stock valued at $121,000 after buying an additional 2,500 shares during the last quarter. BB&T Corp purchased a new stake in shares of Stock Yards Bancorp during the second quarter valued at $208,000. Aperio Group LLC purchased a new stake in shares of Stock Yards Bancorp during the first quarter valued at $261,000. Boston Private Wealth LLC increased its stake in shares of Stock Yards Bancorp by 75.2% in the second quarter. Boston Private Wealth LLC now owns 9,915 shares of the company’s stock valued at $280,000 after buying an additional 4,255 shares during the last quarter. Finally, Smith Asset Management Group LP increased its stake in shares of Stock Yards Bancorp by 154.2% in the second quarter. Smith Asset Management Group LP now owns 11,465 shares of the company’s stock valued at $324,000 after buying an additional 6,955 shares during the last quarter. 42.46% of the stock is currently owned by institutional investors and hedge funds.
Stock Yards Bancorp Inc. (NASDAQ:SYBT) traded up 0.71% during mid-day trading on Tuesday, reaching $32.44. 47,564 shares of the company were exchanged. The company’s 50 day moving average price is $31.21 and its 200-day moving average price is $28.36. The stock has a market capitalization of $730.32 million, a P/E ratio of 18.94 and a beta of 0.72. Stock Yards Bancorp Inc. has a 12 month low of $22.67 and a 12 month high of $33.97.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Stock Yards Bancorp had a return on equity of 13.30% and a net margin of 28.15%. On average, equities analysts expect that Stock Yards Bancorp Inc. will post $1.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 8th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 41.78%.
Separately, Zacks Investment Research raised shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, June 29th.
In related news, VP Nancy B. Davis sold 5,390 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $31.72, for a total value of $170,970.80. Following the sale, the vice president now owns 103,734 shares in the company, valued at approximately $3,290,442.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas C. Stinnett sold 3,358 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $29.65, for a total value of $99,564.70. The disclosure for this sale can be found here. 8.40% of the stock is owned by corporate insiders.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses.
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