Amica Mutual Insurance Co. Takes $1.23 Million Position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Amica Mutual Insurance Co. purchased a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,847 shares of the bank’s stock, valued at approximately $1,228,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James & Associates raised its stake in shares of Stock Yards Bancorp by 3.7% during the fourth quarter. Raymond James & Associates now owns 8,775 shares of the bank’s stock valued at $452,000 after purchasing an additional 314 shares during the period. Swiss National Bank increased its stake in Stock Yards Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 61,323 shares of the bank’s stock worth $2,409,000 after buying an additional 700 shares during the period. Baldwin Brothers LLC MA lifted its holdings in Stock Yards Bancorp by 6.2% in the 4th quarter. Baldwin Brothers LLC MA now owns 12,030 shares of the bank’s stock worth $619,000 after buying an additional 700 shares in the last quarter. Signaturefd LLC boosted its position in Stock Yards Bancorp by 121.7% in the 4th quarter. Signaturefd LLC now owns 1,530 shares of the bank’s stock valued at $79,000 after buying an additional 840 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Stock Yards Bancorp by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 163,058 shares of the bank’s stock valued at $6,407,000 after buying an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Wall Street Analysts Forecast Growth

SYBT has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price target (up previously from $53.00) on shares of Stock Yards Bancorp in a research note on Thursday. Piper Sandler started coverage on Stock Yards Bancorp in a research report on Wednesday, March 6th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Hovde Group initiated coverage on Stock Yards Bancorp in a research note on Monday, March 4th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.00.

Stock Yards Bancorp Stock Down 1.5 %

Stock Yards Bancorp stock traded down $0.69 during midday trading on Monday, hitting $45.46. The stock had a trading volume of 71,090 shares, compared to its average volume of 78,956. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $45.62 and a 200 day moving average price of $46.30. Stock Yards Bancorp, Inc. has a 12 month low of $36.93 and a 12 month high of $53.15. The stock has a market cap of $1.34 billion, a P/E ratio of 12.96 and a beta of 0.81.

Stock Yards Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, March 15th. Stock Yards Bancorp’s dividend payout ratio is currently 33.71%.

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.