Brokerages expect Stock Yards Bancorp Inc (NASDAQ:SYBT) to announce sales of $38.43 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Stock Yards Bancorp’s earnings, with the lowest sales estimate coming in at $38.10 million and the highest estimate coming in at $38.76 million. Stock Yards Bancorp posted sales of $35.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full-year sales of $38.43 million for the current fiscal year, with estimates ranging from $157.90 million to $158.71 million. For the next financial year, analysts forecast that the business will report sales of $166.09 million per share, with estimates ranging from $163.77 million to $168.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). The company had revenue of $38.57 million during the quarter, compared to analysts’ expectations of $38.01 million. Stock Yards Bancorp had a return on equity of 13.45% and a net margin of 24.39%.
Several equities analysts have recently issued reports on SYBT shares. Zacks Investment Research cut Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $40.00 target price on shares of Stock Yards Bancorp in a research note on Friday, January 26th. Finally, BidaskClub cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th.
In other news, insider Kathy C. Thompson sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.33, for a total transaction of $98,325.00. Following the transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at $1,570,840.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Bickel III bought 2,510 shares of Stock Yards Bancorp stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average cost of $38.15 per share, for a total transaction of $95,756.50. Following the completion of the purchase, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $162,137.50. The disclosure for this purchase can be found here. Insiders have bought 2,697 shares of company stock worth $102,826 over the last three months. Insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SYBT. Wells Fargo & Company MN increased its stake in shares of Stock Yards Bancorp by 1.7% during the second quarter. Wells Fargo & Company MN now owns 25,050 shares of the bank’s stock valued at $975,000 after buying an additional 416 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Stock Yards Bancorp during the second quarter valued at approximately $285,000. Northern Trust Corp boosted its position in shares of Stock Yards Bancorp by 4.7% during the second quarter. Northern Trust Corp now owns 314,214 shares of the bank’s stock valued at $12,223,000 after purchasing an additional 14,194 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Stock Yards Bancorp by 1.9% during the second quarter. Vanguard Group Inc. now owns 915,298 shares of the bank’s stock valued at $35,604,000 after purchasing an additional 16,902 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Stock Yards Bancorp by 6.8% during the second quarter. California Public Employees Retirement System now owns 18,850 shares of the bank’s stock valued at $733,000 after purchasing an additional 1,200 shares in the last quarter. 47.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stock Yards Bancorp (NASDAQ:SYBT) traded up $0.65 during trading on Friday, reaching $36.90. The company’s stock had a trading volume of 65,968 shares, compared to its average volume of 48,338. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. The stock has a market cap of $833.45, a PE ratio of 21.96 and a beta of 0.64. Stock Yards Bancorp has a 1-year low of $31.90 and a 1-year high of $44.50.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, March 16th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.49%. Stock Yards Bancorp’s payout ratio is 50.60%.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is the holding company for Stock Yards Bank & Trust Company (the Bank). The Bank is a state chartered bank. The Company operates through two segments: commercial banking, and wealth management and trust. The commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity.
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