Brokerages Expect Stock Yards Bancorp, Inc. (SYBT) Will Announce Quarterly Sales of $38.01 Million
Wall Street analysts forecast that Stock Yards Bancorp, Inc. (NASDAQ:SYBT) will announce sales of $38.01 million for the current quarter, according to Zacks. Two analysts have provided estimates for Stock Yards Bancorp’s earnings, with estimates ranging from $37.60 million to $38.41 million. Stock Yards Bancorp posted sales of $36.39 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that Stock Yards Bancorp will report full-year sales of $38.01 million for the current fiscal year, with estimates ranging from $147.70 million to $149.13 million. For the next financial year, analysts expect that the firm will post sales of $156.84 million per share, with estimates ranging from $156.07 million to $157.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Stock Yards Bancorp had a return on equity of 13.66% and a net margin of 28.57%. The firm had revenue of $37.27 million during the quarter, compared to the consensus estimate of $37.81 million. During the same period last year, the business posted $0.46 EPS.
A number of research firms have weighed in on SYBT. Zacks Investment Research downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
In other Stock Yards Bancorp news, insider Philip Poindexter sold 850 shares of the company’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 value of $29,971.00. Following the completion of the sale, the insider now directly owns 23,132 shares in the company, valued at $815,634.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathy C. Thompson sold 2,284 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $39.62, for a total value of $90,492.08. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 352 shares of company stock valued at $12,620 and sold 9,680 shares valued at $358,405. Corporate insiders own 6.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its position in Stock Yards Bancorp by 784.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,095 shares of the bank’s stock worth $120,000 after purchasing an additional 2,745 shares during the period. US Bancorp DE lifted its position in Stock Yards Bancorp by 1.2% in the second quarter. US Bancorp DE now owns 3,973 shares of the bank’s stock worth $155,000 after purchasing an additional 47 shares during the period. Victory Capital Management Inc. lifted its position in Stock Yards Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,596 shares of the bank’s stock worth $179,000 after purchasing an additional 687 shares during the period. SG Americas Securities LLC acquired a new stake in Stock Yards Bancorp in the first quarter worth approximately $194,000. Finally, Neuberger Berman Group LLC lifted its position in Stock Yards Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 5,741 shares of the bank’s stock worth $223,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 48.04% of the company’s stock.
Stock Yards Bancorp (SYBT) opened at 37.75 on Wednesday. The stock has a market capitalization of $855.38 million, a P/E ratio of 20.52 and a beta of 0.70. Stock Yards Bancorp has a 1-year low of $31.90 and a 1-year high of $48.05. The company has a 50-day moving average price of $37.41 and a 200 day moving average price of $37.39.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.12%. Stock Yards Bancorp’s dividend payout ratio (DPR) is 42.11%.
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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