Schroder Investment Management Group cut its position in shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) by 72.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,681 shares of the bank’s stock after selling 6,877 shares during the quarter. Schroder Investment Management Group’s holdings in Stock Yards Bancorp were worth $97,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in SYBT. Farmers National Bank acquired a new position in shares of Stock Yards Bancorp during the 1st quarter valued at about $94,000. SG Americas Securities LLC purchased a new position in shares of Stock Yards Bancorp in the 1st quarter valued at $117,000. Bank of Montreal Can lifted its stake in shares of Stock Yards Bancorp by 56.9% during the first quarter. Bank of Montreal Can now owns 4,243 shares of the bank’s stock worth $143,000 after purchasing an additional 1,539 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Stock Yards Bancorp by 589.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,495 shares of the bank’s stock worth $152,000 after acquiring an additional 3,843 shares in the last quarter. Finally, Amica Retiree Medical Trust lifted its position in shares of Stock Yards Bancorp by 135.2% during the second quarter. Amica Retiree Medical Trust now owns 7,838 shares of the bank’s stock worth $283,000 after purchasing an additional 4,505 shares in the last quarter. 50.56% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:SYBT traded up $0.24 during mid-day trading on Wednesday, hitting $37.62. The stock had a trading volume of 712 shares, compared to its average volume of 38,286. The company has a market cap of $840.76 million, a PE ratio of 15.54 and a beta of 0.49. The company’s 50 day moving average is $36.51 and its 200-day moving average is $35.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.98 and a current ratio of 0.98. Stock Yards Bancorp Inc has a 12-month low of $28.02 and a 12-month high of $38.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.76%. Stock Yards Bancorp’s payout ratio is presently 42.98%.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Saturday, August 17th.
In related news, insider Kathy C. Thompson sold 2,609 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $34.51, for a total transaction of $90,036.59. Following the completion of the transaction, the insider now owns 38,448 shares in the company, valued at approximately $1,326,840.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathy C. Thompson sold 5,800 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $35.02, for a total transaction of $203,116.00. Following the completion of the sale, the insider now owns 35,648 shares in the company, valued at approximately $1,248,392.96. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 359 shares of company stock worth $12,600 and sold 17,409 shares worth $618,253. Insiders own 8.30% of the company’s stock.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, money market deposits, and time deposits.
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