Stock Yards Bancorp sees significant increase in stake thanks to Aptus Capital Advisors LLC during second quarter
September 7, 2024
☀️Trending News
The company’s stock, listed on the NASDAQ under the ticker symbol SYBT, has shown steady growth over the years and has generally outperformed the industry average. The recent news of Aptus Capital Advisors LLC increasing their stake in Stock Yards Bancorp ($NASDAQ:SYBT) during the second quarter has created a buzz in the financial market. This was driven by strong loan growth and an improvement in net interest margin. The company has consistently maintained a strong capital base and has a solid track record of dividend payments and stock buybacks. Other institutional investors, such as BlackRock Inc. and Dimensional Fund Advisors LP, also increased their holdings during the second quarter.
This indicates a positive sentiment towards the company’s future prospects and the potential for further growth. In conclusion, Stock Yards Bancorp’s strong financial performance and solid fundamentals have caught the attention of institutional investors, leading to increased stakeholdings. With a strong presence in its market and a track record of success, Stock Yards Bancorp remains an attractive investment option for those looking to gain exposure in the banking industry. The company’s stock is definitely one to watch for potential growth and continued success in the future.
Share Price
This boost in ownership can be attributed to Aptus Capital Advisors LLC, an investment management firm based in Cincinnati, Ohio. On Friday, the company’s stock opened at $60.41 and closed at $60.6, marking an increase of 0.8% from the previous closing price of $60.12. The exact details of Aptus Capital Advisors LLC’s stake in Stock Yards Bancorp have not been disclosed, as the investment firm has yet to file a 13F form with the Securities and Exchange Commission (SEC).
However, this increase in ownership is a positive sign for the bank holding company and reflects confidence from a respected investment management firm. This news comes at a time when Stock Yards Bancorp has been performing well financially. Stock Yards Bancorp operates as the holding company for Stock Yards Bank & Trust Company, which provides various banking and financial services to individuals and businesses. The company has a market cap of over $1 billion and has been consistently growing its assets over the years. Investors will continue to monitor any further developments from both companies as they navigate through the current economic climate. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SYBT. More…
| Total Revenues | Net Income | Net Margin |
| – | 107.75 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SYBT. More…
| Operations | Investing | Financing |
| 108.74 | -384.43 | -518.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SYBT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.17k | 6.74k | – |
Key Ratios Snapshot
Some of the financial key ratios for SYBT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.5% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
After conducting a thorough analysis of STOCK YARDS BANCORP, I have found that this company has strong fundamentals and is classified as a “gorilla” based on our star chart methodology. This means that STOCK YARDS BANCORP has achieved stable and high revenue or earning growth due to its strong competitive advantage. This type of company typically attracts investors who are looking for stable and consistent returns, as STOCK YARDS BANCORP has a proven track record of success and a strong market position. Additionally, investors who are interested in long-term investments may also be drawn to STOCK YARDS BANCORP due to its steady growth and profitability. In terms of financial health, STOCK YARDS BANCORP has a high score of 8 out of 10, indicating that it is well-equipped to handle any potential crises without the risk of bankruptcy. This is due to its strong cashflows and manageable debt, which provide a solid foundation for the company’s financial stability. When it comes to growth, profitability, asset management, and dividend payouts, STOCK YARDS BANCORP excels in all areas. This further reinforces the company’s strong position in the market and its ability to generate consistent returns for shareholders. Overall, STOCK YARDS BANCORP is a company that offers attractive opportunities for investors who are seeking stability and long-term growth potential. Its strong fundamentals, financial health, and solid performance make it a highly appealing option for those looking to add a reliable and successful company to their portfolio. More…
Peers
In the banking industry, Stock Yards Bancorp Inc competes with PT Bank Mayapada Internasional Tbk, Wesbanco Inc, and Pioneer Bankcorp Inc. All four companies offer similar products and services, such as checking and savings accounts, loans, and credit cards.
However, each company differentiates itself in some way, whether it’s through customer service, interest rates, or fees.
– PT Bank Mayapada Internasional Tbk ($IDX:MAYA)
As of 2022, PT Bank Mayapada Internasional Tbk has a market cap of 8.16T. The company is a leading Indonesian bank that provides a wide range of banking products and services to personal, corporate, and institutional customers. It has a strong focus on retail and SME banking, and offers a variety of deposit, loan, and investment products. The bank has a network of over 500 branches and 4,000 ATMs across Indonesia.
– Wesbanco Inc ($NASDAQ:WSBC)
Wesbanco Inc is a regional bank holding company headquartered in Wheeling, West Virginia. As of December 31, 2019, Wesbanco operated 184 banking offices in the states of Ohio, Pennsylvania, and West Virginia. The company had $13.2 billion in assets and $9.7 billion in deposits. Wesbanco’s primary subsidiaries are Wesbanco Bank, Inc. and Union Bank, Inc.
Wesbanco Inc has a market cap of $2.32 billion as of 2022. The company operates 184 banking offices in the states of Ohio, Pennsylvania, and West Virginia. As of December 31, 2019, the company had $13.2 billion in assets and $9.7 billion in deposits.
Summary
Aptus Capital Advisors LLC increased their investment in Stock Yards Bancorp, Inc. by 24.8% in the second quarter. This indicates a growing confidence in the company’s financial performance. Investing analysis shows that the company may be a promising investment due to this increase in stake. As a result, investors may see potential for growth and higher returns in the future.
However, it is important to conduct further research on the company’s financials and industry trends before making any investment decisions.
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