1,329 Shares in Stock Yards Bancorp, Inc. $SYBT Purchased by Archer Investment Corp

Archer Investment Corp bought a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,329 shares of the bank’s stock, valued at approximately $105,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in Stock Yards Bancorp during the 2nd quarter valued at approximately $365,000. Creative Planning boosted its position in shares of Stock Yards Bancorp by 13.9% during the second quarter. Creative Planning now owns 27,095 shares of the bank’s stock worth $2,140,000 after acquiring an additional 3,309 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of Stock Yards Bancorp by 0.3% during the second quarter. Meridian Wealth Management LLC now owns 144,554 shares of the bank’s stock worth $11,417,000 after acquiring an additional 500 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new position in Stock Yards Bancorp during the second quarter valued at $216,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Stock Yards Bancorp by 6.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,869 shares of the bank’s stock valued at $464,000 after acquiring an additional 373 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SYBT has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stock Yards Bancorp in a research note on Wednesday. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.67.

Stock Yards Bancorp Stock Up 3.1%

Shares of SYBT opened at $64.72 on Friday. The company has a market cap of $1.91 billion, a PE ratio of 14.13 and a beta of 0.66. The business has a fifty day moving average of $68.57 and a 200 day moving average of $74.09. Stock Yards Bancorp, Inc. has a 52-week low of $60.75 and a 52-week high of $83.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.32.

Stock Yards Bancorp (NASDAQ:SYBT) last posted its quarterly earnings data on Wednesday, October 29th. The bank reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. Stock Yards Bancorp had a net margin of 24.50% and a return on equity of 13.89%. The business had revenue of $101.60 million for the quarter, compared to analysts’ expectations of $100.00 million. On average, sell-side analysts expect that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, December 15th. Stock Yards Bancorp’s dividend payout ratio is presently 27.95%.

Insider Transactions at Stock Yards Bancorp

In other Stock Yards Bancorp news, Director David L. Hardy bought 2,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were purchased at an average price 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 in the company, valued at $133,060. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James A. Hillebrand sold 2,162 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $83.32, for a total value of $180,137.84. Following the completion of the sale, the chief executive officer owned 107,292 shares in the company, valued at approximately $8,939,569.44. The trade was a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.40% of the company’s stock.

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.