Dimensional Fund Advisors LP lowered its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 789,413 shares of the bank’s stock after selling 4,140 shares during the quarter. Dimensional Fund Advisors LP owned 3.48% of Stock Yards Bancorp worth $30,709,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in SYBT. UBS Asset Management Americas Inc. bought a new position in Stock Yards Bancorp during the first quarter valued at about $228,000. SG Americas Securities LLC bought a new position in Stock Yards Bancorp during the first quarter valued at about $194,000. American International Group Inc. boosted its stake in Stock Yards Bancorp by 6.9% during the first quarter. American International Group Inc. now owns 13,066 shares of the bank’s stock valued at $531,000 after buying an additional 847 shares in the last quarter. Teachers Advisors LLC boosted its stake in Stock Yards Bancorp by 7.7% during the first quarter. Teachers Advisors LLC now owns 51,667 shares of the bank’s stock valued at $2,100,000 after buying an additional 3,705 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Stock Yards Bancorp by 2.9% during the first quarter. California Public Employees Retirement System now owns 17,650 shares of the bank’s stock valued at $717,000 after buying an additional 500 shares in the last quarter. 48.04% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on SYBT shares. Zacks Investment Research raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
In related news, insider Philip Poindexter sold 850 shares of Stock Yards Bancorp stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $35.26, for a total transaction of $29,971.00. Following the completion of the sale, the insider now directly owns 23,132 shares of the company’s stock, valued at $815,634.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kathy C. Thompson sold 2,284 shares of Stock Yards Bancorp stock in a transaction on Friday, October 27th. The stock was sold at an average price of $39.62, for a total value of $90,492.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 352 shares of company stock valued at $12,620 and have sold 9,680 shares valued at $358,405. 6.20% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: This news story was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://sportsperspectives.com/2017/11/02/dimensional-fund-advisors-lp-decreases-position-in-stock-yards-bancorp-inc-sybt.html.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Stock Yards Bancorp had a return on equity of 13.66% and a net margin of 28.57%. The business had revenue of $37.27 million during the quarter, compared to analysts’ expectations of $37.81 million. During the same period in the previous year, the firm earned $0.46 earnings per share.
Stock Yards Bancorp Company Profile
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
Receive News & Ratings for Stock Yards Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.