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

Ardent Capital Management Inc. purchased a new stake in shares of Stock Yards Bancorp, Inc. (NASDAQ:SYBT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,380 shares of the bank’s stock, valued at approximately $267,000.

Several other large investors have also recently modified their holdings of SYBT. KBC Group NV bought a new position in shares of Stock Yards Bancorp during the first quarter valued at $114,000. Truist Financial Corp bought a new position in shares of Stock Yards Bancorp during the second quarter valued at $207,000. Johnson Investment Counsel Inc. bought a new position in shares of Stock Yards Bancorp during the first quarter valued at $223,000. Contravisory Investment Management Inc. bought a new position in shares of Stock Yards Bancorp during the second quarter valued at $256,000. Finally, Quantbot Technologies LP raised its stake in shares of Stock Yards Bancorp by 132.8% during the first quarter. Quantbot Technologies LP now owns 4,070 shares of the bank’s stock valued at $281,000 after acquiring an additional 2,322 shares during the last quarter. Institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SYBT. Keefe, Bruyette & Woods raised 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 note on Thursday, July 24th. Wall Street Zen downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday. Piper Sandler lifted 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, Weiss Ratings downgraded shares of Stock Yards Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.75.

Insider Buying and Selling

In related news, CEO James A. Hillebrand sold 2,162 shares of the business’s stock in a transaction dated 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 directly owned 107,292 shares of the company’s stock, valued at $8,939,569.44. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.40% of the company’s stock.

Stock Yards Bancorp Price Performance

Shares of NASDAQ SYBT opened at $68.18 on Tuesday. Stock Yards Bancorp, Inc. has a twelve month low of $60.75 and a twelve month high of $83.83. The firm has a fifty day simple moving average of $74.54 and a 200 day simple moving average of $74.65. The company has a market capitalization of $2.01 billion, a PE ratio of 15.67 and a beta of 0.62. 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 announced its earnings results on Wednesday, July 23rd. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. Stock Yards Bancorp had a net margin of 23.86% and a return on equity of 13.31%. The business had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.32 million. On average, sell-side analysts forecast that Stock Yards Bancorp, Inc. will post 4.16 EPS for the current year.

Stock Yards Bancorp Increases Dividend

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

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.