Analysts forecast that Stock Yards Bancorp Inc (NASDAQ:SYBT) will post $40.95 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Stock Yards Bancorp’s earnings. The lowest sales estimate is $40.50 million and the highest is $41.40 million. Stock Yards Bancorp reported sales of $37.27 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Stock Yards Bancorp will report full year sales of $160.40 million for the current financial year, with estimates ranging from $159.50 million to $161.30 million. For the next fiscal year, analysts forecast that the company will post sales of $167.60 million per share, with estimates ranging from $166.40 million to $168.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 25th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. Stock Yards Bancorp had a return on equity of 14.66% and a net margin of 26.61%. The business had revenue of $40.11 million during the quarter, compared to analyst estimates of $39.04 million.
Several analysts have commented on SYBT shares. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Saturday, July 28th. ValuEngine raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. Finally, BidaskClub raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Stock Yards Bancorp currently has an average rating of “Hold” and a consensus price target of $42.00.
In other news, insider Kathy C. Thompson sold 3,524 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $39.73, for a total transaction of $140,008.52. Following the completion of the sale, the insider now owns 40,053 shares of the company’s stock, valued at approximately $1,591,305.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David P. Heintzman sold 8,967 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $39.85, for a total transaction of $357,334.95. Following the sale, the chief executive officer now directly owns 170,552 shares of the company’s stock, valued at approximately $6,796,497.20. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,155 shares of company stock valued at $45,687. Insiders own 6.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Stock Yards Bancorp during the 1st quarter valued at about $128,000. Citigroup Inc. raised its stake in Stock Yards Bancorp by 66.1% during the first quarter. Citigroup Inc. now owns 5,619 shares of the bank’s stock worth $197,000 after purchasing an additional 2,236 shares during the period. ClariVest Asset Management LLC purchased a new position in Stock Yards Bancorp during the second quarter worth about $206,000. Sigma Planning Corp purchased a new position in Stock Yards Bancorp during the second quarter worth about $251,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Stock Yards Bancorp during the second quarter worth about $283,000. 47.74% of the stock is owned by hedge funds and other institutional investors.
NASDAQ SYBT traded down $0.20 on Tuesday, hitting $37.90. 15,846 shares of the stock traded hands, compared to its average volume of 38,469. Stock Yards Bancorp has a 12 month low of $31.90 and a 12 month high of $41.90. The firm has a market cap of $866.67 million, a price-to-earnings ratio of 17.72 and a beta of 0.57. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati. Its deposit products include demand deposits, savings deposits, certificates of deposit, money market deposits, and time deposits.
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