Aptus Capital Advisors LLC Acquires 24,686 Shares of Stock Yards Bancorp, Inc. $SYBT

Aptus Capital Advisors LLC boosted its stake in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,875 shares of the bank’s stock after acquiring an additional 24,686 shares during the period. Aptus Capital Advisors LLC owned 0.63% of Stock Yards Bancorp worth $13,079,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank lifted its position in shares of Stock Yards Bancorp by 1,405.6% in the 2nd quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock worth $86,000 after purchasing an additional 1,012 shares during the period. State of Alaska Department of Revenue bought a new position in Stock Yards Bancorp in the third quarter worth about $92,000. Archer Investment Corp purchased a new stake in Stock Yards Bancorp in the second quarter worth about $105,000. Sei Investments Co. purchased a new position in shares of Stock Yards Bancorp in the 2nd quarter valued at approximately $207,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in Stock Yards Bancorp in the second quarter worth $216,000. 56.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SYBT shares. Wall Street Zen upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Hovde Group upgraded shares of Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday. Zacks Research raised Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $76.00 price objective (up from $75.00) on shares of Stock Yards Bancorp in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Stock Yards Bancorp Stock Up 0.2%

NASDAQ SYBT opened at $64.63 on Friday. Stock Yards Bancorp, Inc. has a 12 month low of $60.75 and a 12 month high of $83.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.91 billion, a PE ratio of 13.61 and a beta of 0.71. The stock’s 50 day moving average is $67.57 and its 200 day moving average is $69.45.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $104.47 million during the quarter, compared to analyst estimates of $102.42 million. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. Research analysts predict that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 26.95%.

Stock Yards Bancorp Profile

Stock Yards Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, operating through its principal subsidiary, Stock Yards Bank & Trust Co As a community-oriented financial institution, the company offers a full suite of banking services tailored to individual consumers, small to mid-sized businesses, and municipalities. Its mission centers on fostering long-term client relationships through personalized service, local decision-making, and a commitment to sustainable growth in the markets it serves.

The bank’s core products include a variety of deposit accounts ranging from personal checking and savings to commercial money market and time deposit offerings.