Clark Capital Management Group Inc. Has $5.78 Million Stock Holdings in Stock Yards Bancorp, Inc. $SYBT

Key Points

• Clark Capital Management Group Inc. increased its stake in Stock Yards Bancorp by 46.0%, owning 83,699 shares valued at approximately $5.78 million as of the latest SEC filing.
• CEO James A. Hillebrand sold 2,162 shares at an average price of $83.32, resulting in a decrease of 1.98% in his ownership, while the bank recently announced a quarterly dividend increase to $0.32 per share.
• Analysts have mixed ratings on Stock Yards Bancorp, with price targets ranging from $79.75 to $86.00, and the stock currently holds an average rating of "Hold".

Clark Capital Management Group Inc. grew its position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT - Free Report) by 46.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,699 shares of the bank's stock after acquiring an additional 26,355 shares during the quarter. Clark Capital Management Group Inc. owned 0.28% of Stock Yards Bancorp worth $5,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYBT. KBC Group NV acquired a new position in Stock Yards Bancorp during the first quarter worth $114,000. Bank of New York Mellon Corp lifted its position in Stock Yards Bancorp by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 129,010 shares of the bank's stock worth $8,909,000 after buying an additional 2,030 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Stock Yards Bancorp by 7,142.2% during the 1st quarter. GAMMA Investing LLC now owns 22,306 shares of the bank's stock worth $1,540,000 after buying an additional 21,998 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Stock Yards Bancorp by 13.0% in the 4th quarter. Northern Trust Corp now owns 274,295 shares of the bank's stock valued at $19,642,000 after acquiring an additional 31,529 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Stock Yards Bancorp by 26.4% in the first quarter. Victory Capital Management Inc. now owns 1,358,138 shares of the bank's stock valued at $93,793,000 after acquiring an additional 283,532 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Performance

SYBT traded down $1.79 during trading on Tuesday, hitting $77.57. The stock had a trading volume of 75,281 shares, compared to its average volume of 120,344. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average price of $78.36 and a 200-day moving average price of $74.18. Stock Yards Bancorp, Inc. has a one year low of $56.35 and a one year high of $83.83. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 17.83 and a beta of 0.73.

Stock Yards Bancorp (NASDAQ:SYBT - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. As a group, research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. This is an increase from Stock Yards Bancorp's previous quarterly dividend of $0.31. The ex-dividend date is Monday, September 15th. Stock Yards Bancorp's dividend payout ratio is presently 28.51%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYBT. Piper Sandler raised their price target on Stock Yards Bancorp from $81.00 to $86.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Wall Street Zen downgraded Stock Yards Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, August 23rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Stock Yards Bancorp has a consensus rating of "Hold" and a consensus target price of $79.75.

Insider Buying and Selling

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total transaction of $180,137.84. Following the transaction, the chief executive officer owned 107,292 shares in the company, valued at $8,939,569.44. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Dishman sold 2,802 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $78.10, for a total value of $218,836.20. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 8,964 shares of company stock valued at $710,974 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

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.