Stock Yards Bancorp, Inc. (SYBT) Expected to Post Quarterly Sales of $37.81 Million
Wall Street analysts expect Stock Yards Bancorp, Inc. (NASDAQ:SYBT) to report $37.81 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Stock Yards Bancorp’s earnings, with the lowest sales estimate coming in at $37.40 million and the highest estimate coming in at $38.22 million. Stock Yards Bancorp reported sales of $36.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The company is expected to announce its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full-year sales of $37.81 million for the current year, with estimates ranging from $148.20 million to $149.85 million. For the next fiscal year, analysts expect that the company will post sales of $158.17 million per share, with estimates ranging from $157.23 million to $159.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.02. Stock Yards Bancorp had a return on equity of 13.36% and a net margin of 28.11%. The firm had revenue of $36.91 million for the quarter, compared to analyst estimates of $37.06 million.
Several research firms have commented on SYBT. Zacks Investment Research raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 29th. BidaskClub cut shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Hilliard Lyons raised shares of Stock Yards Bancorp from an “underperform” rating to a “neutral” rating and set a $38.00 target price on the stock in a research note on Thursday, May 25th.
ILLEGAL ACTIVITY WARNING: “Stock Yards Bancorp, Inc. (SYBT) Expected to Post Quarterly Sales of $37.81 Million” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/08/18/stock-yards-bancorp-inc-sybt-expected-to-post-quarterly-sales-of-37-81-million.html.
In other Stock Yards Bancorp news, insider Kathy C. Thompson sold 1,816 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $35.20, for a total transaction of $63,923.20. Following the transaction, the insider now owns 40,161 shares of the company’s stock, valued at approximately $1,413,667.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David P. Heintzman sold 2,541 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $39.35, for a total transaction of $99,988.35. Following the transaction, the chief executive officer now directly owns 169,309 shares in the company, valued at approximately $6,662,309.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,378 shares of company stock worth $352,461. 6.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Stock Yards Bancorp during the first quarter valued at approximately $194,000. Oxford Asset Management acquired a new position in shares of Stock Yards Bancorp during the first quarter valued at about $478,000. John W. Rosenthal Capital Management Inc. boosted its position in shares of Stock Yards Bancorp by 4.3% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 158,480 shares of the bank’s stock valued at $6,442,000 after buying an additional 6,600 shares in the last quarter. HL Financial Services LLC boosted its position in shares of Stock Yards Bancorp by 23.0% in the first quarter. HL Financial Services LLC now owns 59,503 shares of the bank’s stock valued at $2,419,000 after buying an additional 11,118 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Stock Yards Bancorp by 0.7% in the first quarter. Mutual of America Capital Management LLC now owns 273,640 shares of the bank’s stock valued at $11,123,000 after buying an additional 1,955 shares in the last quarter. 48.24% of the stock is currently owned by hedge funds and other institutional investors.
Stock Yards Bancorp (SYBT) opened at 34.65 on Friday. The firm has a market capitalization of $785.13 million, a price-to-earnings ratio of 18.83 and a beta of 0.66. The stock’s 50 day moving average is $36.85 and its 200-day moving average is $39.76. Stock Yards Bancorp has a 52 week low of $29.69 and a 52 week high of $48.05.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 annualized dividend and a yield of 2.31%. Stock Yards Bancorp’s payout ratio is 43.24%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stock Yards Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.