Firethorn Wealth Partners LLC Has $1.05 Million Stock Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Firethorn Wealth Partners LLC raised its holdings in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,633 shares of the bank’s stock after purchasing an additional 136 shares during the period. Firethorn Wealth Partners LLC’s holdings in Stock Yards Bancorp were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $45,000. Quantbot Technologies LP boosted its position in Stock Yards Bancorp by 151.2% during the third quarter. Quantbot Technologies LP now owns 2,271 shares of the bank’s stock worth $141,000 after purchasing an additional 1,367 shares during the period. FMR LLC boosted its position in Stock Yards Bancorp by 7.5% during the third quarter. FMR LLC now owns 2,400 shares of the bank’s stock worth $149,000 after purchasing an additional 167 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of Stock Yards Bancorp in the third quarter valued at about $206,000. Finally, Independent Solutions Wealth Management LLC bought a new stake in shares of Stock Yards Bancorp in the third quarter valued at about $207,000. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, EVP Michael Rehm sold 2,650 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $74.81, for a total value of $198,246.50. Following the completion of the transaction, the executive vice president now owns 16,927 shares in the company, valued at $1,266,308.87. This trade represents a 13.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Heintzman sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $78.10, for a total value of $273,350.00. Following the completion of the transaction, the director now owns 21,411 shares of the company’s stock, valued at approximately $1,672,199.10. This represents a 14.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,955 shares of company stock worth $1,842,549. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

SYBT has been the subject of a number of analyst reports. Stephens downgraded Stock Yards Bancorp from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $70.00 to $76.00 in a research note on Friday, November 15th. Piper Sandler boosted their price target on Stock Yards Bancorp from $65.50 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Hovde Group downgraded Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $67.00 to $68.00 in a research note on Thursday, October 24th.

Stock Yards Bancorp Stock Performance

NASDAQ:SYBT opened at $75.00 on Friday. The stock has a market cap of $2.21 billion, a P/E ratio of 19.28 and a beta of 0.86. The stock’s 50-day moving average is $73.85 and its 200-day moving average is $65.62. Stock Yards Bancorp, Inc. has a 1-year low of $42.35 and a 1-year high of $79.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.38.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, January 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same quarter last year, the firm posted $0.82 earnings per share. Equities research analysts anticipate that Stock Yards Bancorp, Inc. will post 4.03 earnings per share for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.65%. Stock Yards Bancorp’s payout ratio is 31.88%.

About Stock Yards Bancorp

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers a range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, merchant services, international banking, correspondent banking, and other banking services.