Aptus Capital Advisors LLC Raises Holdings in Stock Yards Bancorp, Inc. $SYBT

Aptus Capital Advisors LLC lifted its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 15.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 186,875 shares of the bank’s stock after acquiring an additional 24,686 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Stock Yards Bancorp were worth $13,079,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYBT. Huntington National Bank boosted its stake in Stock Yards Bancorp by 1,405.6% during the second quarter. Huntington National Bank now owns 1,084 shares of the bank’s stock valued at $86,000 after buying an additional 1,012 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Stock Yards Bancorp during the 3rd quarter worth approximately $92,000. Archer Investment Corp bought a new position in shares of Stock Yards Bancorp during the 2nd quarter valued at approximately $105,000. Sei Investments Co. bought a new stake in Stock Yards Bancorp in the second quarter worth $207,000. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in Stock Yards Bancorp in the second quarter worth $216,000. 56.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research raised shares of Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Wall Street Zen upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. Piper Sandler restated 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. Finally, Hovde Group raised Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Stock Yards Bancorp Stock Performance

Shares of SYBT stock opened at $64.63 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 13.61 and a beta of 0.71. 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 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.30. The company’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 earnings results on Tuesday, January 27th. The bank reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Stock Yards Bancorp had a net margin of 24.83% and a return on equity of 13.68%. The business had revenue of $104.47 million during the quarter, compared to the consensus estimate of $102.42 million. On average, sell-side analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current fiscal year.

Stock Yards Bancorp Dividend Announcement

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

Stock Yards Bancorp Company 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.