Clark Capital Management Group Inc. Buys Shares of 57,344 Stock Yards Bancorp, Inc. (NASDAQ:SYBT)

Clark Capital Management Group Inc. bought a new position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,344 shares of the bank's stock, valued at approximately $4,106,000. Clark Capital Management Group Inc. owned approximately 0.19% of Stock Yards Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Stock Yards Bancorp by 164.5% during the 4th quarter. Covestor Ltd now owns 373 shares of the bank's stock worth $27,000 after acquiring an additional 232 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Stock Yards Bancorp by 1,077.5% in the 4th quarter. Jones Financial Companies Lllp now owns 471 shares of the bank's stock worth $34,000 after acquiring an additional 431 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Stock Yards Bancorp by 115.6% in the 4th quarter. Principal Securities Inc. now owns 485 shares of the bank's stock valued at $35,000 after buying an additional 260 shares during the period. Kentucky Trust Co acquired a new stake in Stock Yards Bancorp during the fourth quarter worth $44,000. Finally, Sterling Capital Management LLC raised its holdings in Stock Yards Bancorp by 806.7% in the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after buying an additional 718 shares during the period. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stephens increased their target price on shares of Stock Yards Bancorp from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut their target price on Stock Yards Bancorp from $84.00 to $80.00 and set a "market perform" rating on the stock in a research report on Thursday, April 24th. Piper Sandler set a $81.00 price objective on shares of Stock Yards Bancorp and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, StockNews.com upgraded Stock Yards Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Stock Yards Bancorp presently has a consensus rating of "Hold" and a consensus target price of $77.25.

Stock Yards Bancorp Stock Performance

SYBT traded down $0.05 during trading on Wednesday, reaching $77.06. 20,548 shares of the company were exchanged, compared to its average volume of 127,271. Stock Yards Bancorp, Inc. has a 52 week low of $44.36 and a 52 week high of $79.85. The stock has a market cap of $2.27 billion, a P/E ratio of 19.81 and a beta of 0.73. The firm has a 50 day moving average of $69.71 and a 200 day moving average of $72.08. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.13. The firm had revenue of $93.63 million during the quarter, compared to the consensus estimate of $92.90 million. Stock Yards Bancorp had a return on equity of 12.71% and a net margin of 22.54%. During the same period in the prior year, the business earned $0.88 EPS. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, March 17th. Stock Yards Bancorp's dividend payout ratio is 29.95%.

Insiders Place Their Bets

In related news, Director David P. Heintzman sold 1,581 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $74.00, for a total value of $116,994.00. Following the completion of the transaction, the director now owns 82,070 shares of the company's stock, valued at approximately $6,073,180. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.40% of the company's stock.

Stock Yards Bancorp Company Profile

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.