Atlanta Consulting Group Advisors LLC Invests $216,000 in Stock Yards Bancorp, Inc. $SYBT

Atlanta Consulting Group Advisors LLC bought a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the second quarter, according to its most recent filing with the SEC. The firm bought 2,729 shares of the bank’s stock, valued at approximately $216,000.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Stock Yards Bancorp by 26.4% during 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 period. Envestnet Asset Management Inc. lifted its position in shares of Stock Yards Bancorp by 1,496.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 116,690 shares of the bank’s stock worth $9,216,000 after purchasing an additional 109,382 shares during the last quarter. Nuveen LLC bought a new stake in Stock Yards Bancorp during the 1st quarter valued at approximately $4,698,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Stock Yards Bancorp by 4.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,278,442 shares of the bank’s stock valued at $88,289,000 after buying an additional 60,183 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Stock Yards Bancorp by 87.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 128,300 shares of the bank’s stock valued at $8,860,000 after buying an additional 60,000 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYBT. Weiss Ratings lowered Stock Yards Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Wall Street Zen raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler increased their price target on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods raised 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.67.

Stock Yards Bancorp Stock Down 0.5%

NASDAQ SYBT opened at $67.28 on Thursday. Stock Yards Bancorp, Inc. has a 1-year low of $60.75 and a 1-year high of $83.83. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.69 and a beta of 0.66. The stock’s 50 day moving average is $70.44 and its two-hundred day moving average is $74.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, topping the consensus estimate of $1.15 by $0.08. The business had revenue of $120.27 million during the quarter, compared to the consensus estimate of $100.00 million. Stock Yards Bancorp had a return on equity of 13.89% and a net margin of 24.50%. Equities analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 earnings per share for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, September 15th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 27.95%.

Insider Buying and Selling at Stock Yards Bancorp

In other news, Director David L. Hardy bought 2,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were acquired at an average price of $66.53 per share, with a total value of $133,060.00. Following the acquisition, the director owned 2,000 shares in the company, valued at $133,060. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James A. Hillebrand sold 2,162 shares of Stock Yards Bancorp stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total transaction of $180,137.84. Following the transaction, the chief executive officer directly owned 107,292 shares of the company’s stock, valued at $8,939,569.44. This represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.40% of the stock is currently owned by insiders.

About Stock Yards Bancorp

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.