$37.06 Million in Sales Expected for Stock Yards Bancorp, Inc. (NASDAQ:SYBT) This Quarter
Analysts forecast that Stock Yards Bancorp, Inc. (NASDAQ:SYBT) will report $37.06 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Stock Yards Bancorp’s earnings. The highest sales estimate is $37.12 million and the lowest is $37.00 million. Stock Yards Bancorp reported sales of $34.73 million during the same quarter last year, which indicates a positive year over year growth rate of 6.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 26th.
On average, analysts expect that Stock Yards Bancorp will report full year sales of $37.06 million for the current year, with estimates ranging from $149.00 million to $149.17 million. For the next year, analysts expect that the business will post sales of $158.12 million per share, with estimates ranging from $155.83 million to $160.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its earnings results on Wednesday, April 26th. The bank reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Stock Yards Bancorp had a return on equity of 13.43% and a net margin of 28.30%. The firm had revenue of $35.98 million for the quarter, compared to the consensus estimate of $36.25 million. During the same quarter in the previous year, the business earned $0.44 EPS.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Hilliard Lyons raised shares of Stock Yards Bancorp from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a research report on Thursday, May 25th.
Shares of Stock Yards Bancorp (SYBT) traded down 0.13% during trading on Friday, hitting $39.00. The stock had a trading volume of 32,979 shares. Stock Yards Bancorp has a 52-week low of $27.38 and a 52-week high of $48.05. The firm has a market cap of $883.74 million, a PE ratio of 21.31 and a beta of 0.68. The stock has a 50 day moving average of $37.62 and a 200 day moving average of $41.91.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 8th. This represents a $0.80 annualized dividend and a yield of 2.05%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.19. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 43.48%.
In related news, CEO David P. Heintzman sold 979 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $40.85, for a total value of $39,992.15. Following the sale, the chief executive officer now owns 169,309 shares in the company, valued at $6,916,272.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David P. Heintzman sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $39.80, for a total transaction of $60,018.40. Following the completion of the sale, the chief executive officer now owns 169,309 shares in the company, valued at approximately $6,738,498.20. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 238 shares of company stock worth $9,229 and sold 9,199 shares worth $358,577. Company insiders own 6.20% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Stock Yards Bancorp during the fourth quarter valued at about $818,000. Comerica Bank boosted its stake in shares of Stock Yards Bancorp by 82.9% in the fourth quarter. Comerica Bank now owns 21,978 shares of the bank’s stock valued at $1,024,000 after buying an additional 9,963 shares in the last quarter. State Street Corp boosted its stake in shares of Stock Yards Bancorp by 13.5% in the fourth quarter. State Street Corp now owns 417,943 shares of the bank’s stock valued at $19,624,000 after buying an additional 49,644 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Stock Yards Bancorp by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 763,793 shares of the bank’s stock valued at $35,860,000 after buying an additional 37,898 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Stock Yards Bancorp by 232.6% in the fourth quarter. FMR LLC now owns 1,851,106 shares of the bank’s stock valued at $86,909,000 after buying an additional 1,294,618 shares in the last quarter. Institutional investors own 48.59% of the company’s stock.
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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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