Equities research analysts forecast that Stock Yards Bancorp Inc (NASDAQ:SYBT) will report sales of $40.45 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Stock Yards Bancorp’s earnings, with estimates ranging from $40.20 million to $40.70 million. Stock Yards Bancorp reported sales of $38.57 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The company is expected to issue its next quarterly earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full year sales of $158.85 million for the current fiscal year, with estimates ranging from $158.50 million to $159.20 million. For the next fiscal year, analysts expect that the firm will post sales of $164.95 million, with estimates ranging from $163.10 million to $166.80 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, October 24th. The bank reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). Stock Yards Bancorp had a net margin of 27.08% and a return on equity of 15.10%. The company had revenue of $39.95 million for the quarter, compared to analysts’ expectations of $40.95 million. During the same period in the previous year, the firm posted $0.51 earnings per share.
SYBT has been the subject of several recent research reports. BidaskClub downgraded shares of Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 20th. ValuEngine downgraded shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.00.
In other Stock Yards Bancorp news, Director Carl G. Herde bought 5,000 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was bought at an average cost of $30.75 per share, with a total value of $153,750.00. Following the completion of the transaction, the director now directly owns 31,182 shares of the company’s stock, valued at approximately $958,846.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul J. Bickel III bought 1,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was acquired at an average cost of $36.00 per share, with a total value of $36,000.00. Following the completion of the transaction, the director now directly owns 6,725 shares of the company’s stock, valued at $242,100. The disclosure for this purchase can be found here. Insiders acquired 7,429 shares of company stock valued at $242,395 over the last three months. Insiders own 6.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SYBT. Aperio Group LLC raised its position in Stock Yards Bancorp by 12.2% during the second quarter. Aperio Group LLC now owns 12,836 shares of the bank’s stock valued at $490,000 after purchasing an additional 1,399 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Stock Yards Bancorp during the second quarter valued at approximately $283,000. First Trust Advisors LP raised its position in Stock Yards Bancorp by 21.2% during the second quarter. First Trust Advisors LP now owns 32,132 shares of the bank’s stock valued at $1,226,000 after purchasing an additional 5,620 shares during the period. Sigma Planning Corp purchased a new stake in Stock Yards Bancorp during the second quarter valued at approximately $251,000. Finally, HL Financial Services LLC raised its position in Stock Yards Bancorp by 6.4% during the second quarter. HL Financial Services LLC now owns 59,613 shares of the bank’s stock valued at $2,274,000 after purchasing an additional 3,565 shares during the period. 49.95% of the stock is owned by institutional investors.
Shares of SYBT opened at $31.04 on Friday. Stock Yards Bancorp has a 52 week low of $29.69 and a 52 week high of $41.90. The company has a market cap of $705.79 million, a P/E ratio of 16.25 and a beta of 0.66. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, December 14th. Stock Yards Bancorp’s dividend payout ratio is 52.36%.
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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