Macquarie Group Ltd. Makes New $54,000 Investment in Stock Yards Bancorp Inc (NASDAQ:SYBT)

Macquarie Group Ltd. purchased a new stake in shares of Stock Yards Bancorp Inc (NASDAQ:SYBT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,500 shares of the bank’s stock, valued at approximately $54,000.

Several other hedge funds have also added to or reduced their stakes in SYBT. Eaton Vance Management increased its stake in Stock Yards Bancorp by 10.5% in the second quarter. Eaton Vance Management now owns 355,821 shares of the bank’s stock valued at $12,863,000 after purchasing an additional 33,918 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Stock Yards Bancorp during the second quarter valued at about $430,000. Nuveen Asset Management LLC acquired a new position in shares of Stock Yards Bancorp during the second quarter valued at about $4,988,000. Bank of America Corp DE grew its holdings in shares of Stock Yards Bancorp by 7.3% during the second quarter. Bank of America Corp DE now owns 21,425 shares of the bank’s stock valued at $774,000 after buying an additional 1,459 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in shares of Stock Yards Bancorp by 20.9% during the second quarter. Deprince Race & Zollo Inc. now owns 60,116 shares of the bank’s stock valued at $2,173,000 after buying an additional 10,380 shares during the last quarter. 51.10% of the stock is owned by hedge funds and other institutional investors.

SYBT has been the subject of a number of analyst reports. BidaskClub upgraded shares of Stock Yards Bancorp from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine cut shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 26th. Finally, Zacks Investment Research cut shares of Stock Yards Bancorp from a “buy” rating to a “hold” rating in a report on Friday.

Shares of NASDAQ SYBT traded down $0.54 during midday trading on Friday, hitting $40.69. The company’s stock had a trading volume of 44,500 shares, compared to its average volume of 43,712. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.22. Stock Yards Bancorp Inc has a one year low of $28.02 and a one year high of $41.42. The firm has a market capitalization of $926.28 million, a price-to-earnings ratio of 16.81 and a beta of 0.49. The stock has a fifty day moving average price of $37.70 and a 200 day moving average price of $36.08.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.11. The business had revenue of $45.37 million during the quarter, compared to analyst estimates of $43.45 million. Stock Yards Bancorp had a net margin of 33.17% and a return on equity of 16.95%. On average, equities research analysts predict that Stock Yards Bancorp Inc will post 2.82 earnings per share for the current fiscal year.

In related news, Chairman David P. Heintzman sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $36.62, for a total value of $73,240.00. Following the transaction, the chairman now owns 149,962 shares of the company’s stock, valued at $5,491,608.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kathy C. Thompson sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $35.77, for a total transaction of $100,156.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 362 shares of company stock valued at $13,356 and sold 29,784 shares valued at $1,110,650. 8.30% of the stock is owned by company insiders.

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

Institutional Ownership by Quarter for Stock Yards Bancorp (NASDAQ:SYBT)

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