Virginia Retirement Systems ET AL acquired a new position in shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $282,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SYBT. Societe Generale bought a new position in Stock Yards Bancorp during the second quarter worth $104,000. SG Americas Securities LLC bought a new position in Stock Yards Bancorp during the second quarter worth $104,000. Schroder Investment Management Group raised its position in Stock Yards Bancorp by 12.1% in the second quarter. Schroder Investment Management Group now owns 3,904 shares of the company’s stock worth $110,000 after buying an additional 420 shares during the period. American Research & Management Co. raised its position in Stock Yards Bancorp by 138.9% in the second quarter. American Research & Management Co. now owns 4,300 shares of the company’s stock worth $121,000 after buying an additional 2,500 shares during the period. Finally, BB&T Corp bought a new position in Stock Yards Bancorp during the second quarter worth $208,000. 42.46% of the stock is owned by institutional investors.
Shares of Stock Yards Bancorp Inc. (NASDAQ:SYBT) opened at 34.11 on Tuesday. The company has a market cap of $767.92 million, a price-to-earnings ratio of 19.91 and a beta of 0.69. The firm has a 50 day moving average price of $32.18 and a 200-day moving average price of $28.90. Stock Yards Bancorp Inc. has a 12-month low of $22.67 and a 12-month high of $34.35.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, July 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 41.78%.
Separately, Zacks Investment Research raised Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, June 29th.
In related news, CEO David P. Heintzman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $29.70, for a total value of $148,500.00. Following the completion of the sale, the chief executive officer now owns 181,657 shares in the company, valued at $5,395,212.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathy C. Thompson sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $29.59, for a total value of $91,729.00. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.
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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