Atria Investments Inc Purchases New Position in Stock Yards Bancorp, Inc. $SYBT

Atria Investments Inc acquired a new stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the second quarter, according to its most recent filing with the SEC. The fund acquired 3,637 shares of the bank’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYBT. Truist Financial Corp purchased a new stake in shares of Stock Yards Bancorp during the second quarter worth $207,000. Contravisory Investment Management Inc. bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter valued at $256,000. Ardent Capital Management Inc. purchased a new stake in Stock Yards Bancorp during the 2nd quarter worth about $267,000. Quantbot Technologies LP lifted its holdings in Stock Yards Bancorp by 132.8% during the 1st quarter. Quantbot Technologies LP now owns 4,070 shares of the bank’s stock worth $281,000 after purchasing an additional 2,322 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Stock Yards Bancorp in the 1st quarter worth about $296,000. Institutional investors own 56.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYBT. Weiss Ratings downgraded shares of 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 report on Saturday, November 8th. Piper Sandler increased their target price on shares of Stock Yards Bancorp from $81.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 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. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.67.

Insider Activity at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David L. Hardy purchased 2,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $66.53 per share, with a total value of $133,060.00. Following the completion of the purchase, the director owned 2,000 shares of the company’s stock, valued at $133,060. The trade was a ∞ increase in their position. The purchase 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 the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total transaction of $180,137.84. Following the completion of the sale, the chief executive officer directly owned 107,292 shares of the company’s stock, valued at $8,939,569.44. This trade represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.40% of the stock is owned by corporate insiders.

Stock Yards Bancorp Stock Performance

NASDAQ SYBT opened at $67.28 on Thursday. Stock Yards Bancorp, Inc. has a 52-week low of $60.75 and a 52-week high of $83.83. The company has a fifty day moving average of $70.44 and a 200-day moving average of $74.52. The company has a market capitalization of $1.98 billion, a P/E ratio of 14.69 and a beta of 0.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 0.95.

Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, October 29th. The bank reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. Stock Yards Bancorp had a return on equity of 13.89% and a net margin of 24.50%.The business had revenue of $120.27 million for the quarter, compared to analysts’ expectations of $100.00 million. As a group, equities 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 was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, September 15th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.31. Stock Yards Bancorp’s dividend payout ratio is presently 27.95%.

Stock Yards Bancorp 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.