Aptus Capital Advisors LLC increased its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,768 shares of the bank's stock after purchasing an additional 16,698 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.50% of Stock Yards Bancorp worth $10,205,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in Stock Yards Bancorp by 806.7% during the 4th quarter. Sterling Capital Management LLC now owns 807 shares of the bank's stock valued at $58,000 after acquiring an additional 718 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Stock Yards Bancorp by 18.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,537 shares of the bank's stock valued at $110,000 after acquiring an additional 234 shares in the last quarter. KBC Group NV bought a new stake in Stock Yards Bancorp during the 1st quarter valued at $114,000. Summit Investment Advisors Inc. boosted its position in Stock Yards Bancorp by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,679 shares of the bank's stock valued at $192,000 after acquiring an additional 171 shares in the last quarter. Finally, Aquatic Capital Management LLC boosted its position in Stock Yards Bancorp by 53.4% during the 4th quarter. Aquatic Capital Management LLC now owns 2,762 shares of the bank's stock valued at $198,000 after acquiring an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on SYBT. Piper Sandler increased their target price on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods increased their target price on Stock Yards Bancorp from $80.00 to $85.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen cut Stock Yards Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $79.75.
Check Out Our Latest Stock Analysis on SYBT
Stock Yards Bancorp Stock Performance
Shares of NASDAQ SYBT traded up $4.50 during mid-day trading on Friday, hitting $81.55. The stock had a trading volume of 164,868 shares, compared to its average volume of 95,317. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average of $77.35 and a two-hundred day moving average of $73.80. Stock Yards Bancorp, Inc. has a twelve month low of $56.35 and a twelve month high of $83.67. The firm has a market cap of $2.40 billion, a PE ratio of 18.75 and a beta of 0.74.
Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last released its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The firm had revenue of $97.91 million for the quarter, compared to the consensus estimate of $95.32 million. Research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.
Stock Yards Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Stock Yards Bancorp's previous quarterly dividend of $0.31. Stock Yards Bancorp's payout ratio is currently 28.51%.
Insider Activity at Stock Yards Bancorp
In other Stock Yards Bancorp news, EVP William Dishman sold 2,802 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $78.10, for a total transaction of $218,836.20. Following the sale, the executive vice president directly owned 31,594 shares of the company's stock, valued at approximately $2,467,491.40. This trade represents a 8.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura L. Wells sold 4,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $78.00, for a total value of $312,000.00. Following the sale, the director directly owned 14,954 shares in the company, valued at $1,166,412. This represents a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,902 shares of company stock valued at $846,782 in the last ninety days. Company insiders own 3.40% of the company's stock.
About Stock Yards Bancorp
(
Free Report)
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.
Further Reading
Before you consider Stock Yards Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stock Yards Bancorp wasn't on the list.
While Stock Yards Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
MarketBeat All Access