Ardent Capital Management Inc. Purchases Shares of 3,380 Stock Yards Bancorp, Inc. $SYBT

Ardent Capital Management Inc. acquired a new position in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,380 shares of the bank’s stock, valued at approximately $267,000.

A number of other hedge funds have also recently made changes to their positions in the business. KBC Group NV bought a new stake in shares of Stock Yards Bancorp during the first quarter worth about $114,000. Truist Financial Corp acquired a new position in Stock Yards Bancorp during the 2nd quarter valued at about $207,000. Johnson Investment Counsel Inc. bought a new stake in Stock Yards Bancorp during the 1st quarter worth approximately $223,000. Contravisory Investment Management Inc. bought a new stake in Stock Yards Bancorp during the 2nd quarter worth approximately $256,000. Finally, Quantbot Technologies LP raised its stake in shares of Stock Yards Bancorp by 132.8% in the first quarter. Quantbot Technologies LP now owns 4,070 shares of the bank’s stock worth $281,000 after purchasing an additional 2,322 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors and hedge funds.

Stock Yards Bancorp Stock Performance

Shares of Stock Yards Bancorp stock opened at $68.18 on Tuesday. The business’s fifty day simple moving average is $74.54 and its 200 day simple moving average is $74.65. The firm has a market capitalization of $2.01 billion, a P/E ratio of 15.67 and a beta of 0.62. 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 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a return on equity of 13.31% and a net margin of 23.86%.The firm had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. As a group, analysts anticipate that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, September 15th. Stock Yards Bancorp’s dividend payout ratio is 29.43%.

Wall Street Analysts Forecast Growth

SYBT has been the topic of several analyst reports. Wall Street Zen cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings cut Stock Yards Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Stock Yards Bancorp from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, Piper Sandler upped 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. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.75.

Insider Buying and Selling

In other Stock Yards Bancorp news, CEO James A. Hillebrand sold 2,162 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $83.32, for a total value of $180,137.84. Following the transaction, the chief executive officer directly owned 107,292 shares in the company, valued at $8,939,569.44. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.40% of the company’s stock.

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.