$0.48 EPS Expected for Stock Yards Bancorp, Inc. (SYBT) This Quarter
Brokerages expect that Stock Yards Bancorp, Inc. (NASDAQ:SYBT) will announce earnings of $0.48 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Stock Yards Bancorp’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.47. Stock Yards Bancorp reported earnings per share of $0.46 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full-year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.88 to $1.91. For the next year, analysts anticipate that the firm will report earnings of $2.04 per share, with EPS estimates ranging from $2.00 to $2.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings data on Wednesday, July 26th. The bank reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $36.91 million for the quarter, compared to the consensus estimate of $37.06 million.
Several equities analysts have commented on the stock. BidaskClub cut shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 29th.
In related news, insider Kathy C. Thompson sold 1,816 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $35.20, for a total transaction of $63,923.20. Following the completion of the sale, the insider now directly owns 40,161 shares in the company, valued at $1,413,667.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Philip Poindexter sold 850 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $35.26, for a total transaction of $29,971.00. Following the sale, the insider now owns 23,132 shares of the company’s stock, valued at $815,634.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 431 shares of company stock valued at $15,495 and have sold 6,132 shares valued at $217,921. Company insiders own 6.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SYBT. FMR LLC raised its position in Stock Yards Bancorp by 8.5% during the first quarter. FMR LLC now owns 2,008,240 shares of the bank’s stock valued at $81,635,000 after acquiring an additional 157,134 shares in the last quarter. Vanguard Group Inc. raised its position in Stock Yards Bancorp by 7.0% during the first quarter. Vanguard Group Inc. now owns 898,396 shares of the bank’s stock valued at $36,520,000 after acquiring an additional 59,149 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Stock Yards Bancorp by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 793,553 shares of the bank’s stock valued at $32,258,000 after acquiring an additional 29,760 shares in the last quarter. State Street Corp raised its position in Stock Yards Bancorp by 4.8% during the second quarter. State Street Corp now owns 415,829 shares of the bank’s stock valued at $16,181,000 after acquiring an additional 19,091 shares in the last quarter. Finally, Formidable Asset Management LLC raised its position in Stock Yards Bancorp by 13.7% during the second quarter. Formidable Asset Management LLC now owns 129,307 shares of the bank’s stock valued at $5,030,000 after acquiring an additional 15,550 shares in the last quarter. 48.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stock Yards Bancorp (NASDAQ SYBT) traded down 0.26% during mid-day trading on Wednesday, hitting $38.45. The company had a trading volume of 8,496 shares. The firm has a 50-day moving average price of $35.70 and a 200 day moving average price of $37.52. The firm has a market capitalization of $871.28 million, a price-to-earnings ratio of 20.90 and a beta of 0.70. Stock Yards Bancorp has a 52-week low of $31.90 and a 52-week high of $48.05.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, September 8th. Stock Yards Bancorp’s payout ratio is 43.24%.
Stock Yards Bancorp Company Profile
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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