Stock Yards Bancorp, Inc. $SYBT Shares Purchased by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. raised its position in Stock Yards Bancorp, Inc. (NASDAQ:SYBT) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,448 shares of the bank’s stock after acquiring an additional 12,251 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.35% of Stock Yards Bancorp worth $7,310,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Stock Yards Bancorp in the 3rd quarter valued at $45,000. Huntington National Bank grew its stake in shares of Stock Yards Bancorp by 15.0% during the third quarter. Huntington National Bank now owns 1,247 shares of the bank’s stock worth $87,000 after purchasing an additional 163 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Stock Yards Bancorp during the third quarter worth $92,000. Archer Investment Corp purchased a new position in Stock Yards Bancorp in the second quarter valued at $105,000. Finally, Sei Investments Co. acquired a new stake in Stock Yards Bancorp in the second quarter valued at $207,000. Institutional investors and hedge funds own 56.46% of the company’s stock.

Analysts Set New Price Targets

SYBT has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $76.00 price target (up from $75.00) on shares of Stock Yards Bancorp in a report on Friday, January 30th. Zacks Research upgraded Stock Yards Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Hovde Group upgraded Stock Yards Bancorp from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, March 6th. Wall Street Zen downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Stock Yards Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. Based on 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 Performance

Shares of SYBT stock opened at $63.07 on Monday. The stock’s 50-day moving average is $67.38 and its two-hundred day moving average is $68.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.99 and a current ratio of 0.99. Stock Yards Bancorp, Inc. has a 1 year low of $60.75 and a 1 year high of $83.83. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 13.28 and a beta of 0.71.

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

Stock Yards Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders 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 annualized dividend and a yield of 2.0%. Stock Yards Bancorp’s payout ratio is 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.