Neuberger Berman Discloses 1.3M Shares in Stock Yards Bancorp
Ticker: SYBT · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 835324
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, shareholder-update
TL;DR
**Neuberger Berman holds 1.3M shares of Stock Yards Bancorp, watch for future changes.**
AI Summary
Neuberger Berman Group LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 12, 2024, disclosing its ownership in Stock Yards Bancorp, Inc. As of December 31, 2023, Neuberger Berman reported shared voting power over 1,303,661 shares of Stock Yards Bancorp common stock. This filing indicates a significant institutional holding, which can provide stability but also means large block sales could impact the stock price.
Why It Matters
This filing shows a major institutional investor's stake in Stock Yards Bancorp, indicating their confidence in the company but also the potential for market impact if they change their position.
Risk Assessment
Risk Level: medium — While a large institutional holder can provide stability, a significant reduction in their stake could put downward pressure on the stock price.
Analyst Insight
Investors should monitor future SC 13G/A filings from Neuberger Berman Group LLC for any significant changes in their reported shared voting power, as a large increase or decrease could signal a shift in institutional sentiment towards Stock Yards Bancorp, Inc.
Key Numbers
- 1,303,661 — Shared Voting Power Shares (Number of shares of Stock Yards Bancorp common stock Neuberger Berman Group LLC has shared voting power over.)
- 0 — Sole Voting Power Shares (Number of shares of Stock Yards Bancorp common stock Neuberger Berman Group LLC has sole voting power over.)
Key Players & Entities
- Neuberger Berman Group LLC (company) — the reporting person and institutional investor
- Stock Yards Bancorp, Inc. (company) — the subject company in which shares are held
- Delaware (company) — state of incorporation for Neuberger Berman Group LLC
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- Neuberger Berman Group LLC will maintain a significant stake in Stock Yards Bancorp, Inc. for the foreseeable future. (Neuberger Berman Group LLC) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, filed by institutional investors who beneficially own more than 5% of a company's stock, to update their holdings. This specific filing is an amendment (Amendment No. 1) to a previous Schedule 13G.
Who is the reporting person in this SC 13G/A filing?
The reporting person is Neuberger Berman Group LLC, identified by IRS Number 61-1591182 and incorporated in Delaware, as stated on the cover page and Item 1 of the filing.
What is the subject company of this filing?
The subject company is Stock Yards Bancorp, Inc., with CUSIP Number 861025104, as listed under 'Name of Issuer' on the cover page.
As of what date were the reported shareholdings accurate?
The shareholdings are accurate as of December 31, 2023, which is specified as the 'Date of Event Which Requires Filing of this Statement' on the cover page.
How many shares of Stock Yards Bancorp, Inc. does Neuberger Berman Group LLC have shared voting power over?
Neuberger Berman Group LLC has shared voting power over 1,303,661 shares of Stock Yards Bancorp, Inc., as detailed in Item 6 of the cover page.
Filing Stats: 1,329 words · 5 min read · ~4 pages · Grade level 9.6 · Accepted 2024-02-12 16:54:57
Filing Documents
- formsc13ga-02122024_090254.htm (SC 13G/A) — 50KB
- 0001415889-24-003379.txt ( ) — 52KB
Ownership of Five Percent or Less of a Class
Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ x ]
Ownership of More than Five Percent on Behalf of Another Person
Item 6. Ownership of More than Five Percent on Behalf of Another Person. N/A Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. N/A
Identification and Classification of Members of the Group
Item 8. Identification and Classification of Members of the Group. N/A
Notice of Dissolution of Group
Item 9. Notice of Dissolution of Group. N/A
Certification
Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Neuberger Berman Group LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Investment Advisers LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director