Equities analysts expect that Stock Yards Bancorp Inc (NASDAQ:SYBT) will announce earnings of $0.61 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Stock Yards Bancorp’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.62. Stock Yards Bancorp reported earnings per share of $0.51 in the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The business is scheduled to announce its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full year earnings of $2.39 per share for the current year, with EPS estimates ranging from $2.38 to $2.40. For the next fiscal year, analysts anticipate that the business will post earnings of $2.46 per share, with EPS estimates ranging from $2.46 to $2.47. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings data on Wednesday, July 25th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $40.11 million during the quarter, compared to analysts’ expectations of $39.04 million. Stock Yards Bancorp had a net margin of 26.61% and a return on equity of 14.66%.
SYBT has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, June 14th. Finally, ValuEngine upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Stock Yards Bancorp has a consensus rating of “Hold” and an average price target of $42.00.
In other Stock Yards Bancorp news, CEO David P. Heintzman sold 2,571 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $38.90, for a total value of $100,011.90. Following the completion of the transaction, the chief executive officer now directly owns 170,552 shares in the company, valued at approximately $6,634,472.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders acquired 1,558 shares of company stock valued at $61,224. Corporate insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SYBT. Wells Fargo & Company MN increased its position in Stock Yards Bancorp by 5.3% in the 1st quarter. Wells Fargo & Company MN now owns 43,371 shares of the bank’s stock valued at $1,523,000 after acquiring an additional 2,201 shares during the period. SG Americas Securities LLC acquired a new position in Stock Yards Bancorp in the 1st quarter valued at approximately $128,000. Swiss National Bank increased its position in Stock Yards Bancorp by 6.2% in the 1st quarter. Swiss National Bank now owns 37,523 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 2,200 shares during the period. Schwab Charles Investment Management Inc. increased its position in Stock Yards Bancorp by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 108,903 shares of the bank’s stock valued at $3,823,000 after acquiring an additional 5,705 shares during the period. Finally, Northern Trust Corp increased its position in Stock Yards Bancorp by 1.0% in the 1st quarter. Northern Trust Corp now owns 285,596 shares of the bank’s stock valued at $10,024,000 after acquiring an additional 2,809 shares during the period. Hedge funds and other institutional investors own 48.60% of the company’s stock.
SYBT stock traded up $0.20 during trading on Friday, reaching $38.80. 30,541 shares of the company were exchanged, compared to its average volume of 31,580. The stock has a market cap of $878.05 million, a price-to-earnings ratio of 20.31 and a beta of 0.53. Stock Yards Bancorp has a twelve month low of $31.90 and a twelve month high of $41.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 17th will be given a $0.25 dividend. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, September 14th. Stock Yards Bancorp’s dividend payout ratio is 48.17%.
Stock Yards Bancorp Company Profile
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.
Read More: Short Selling Stocks, A Beginner’s Guide
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Stock Yards Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stock Yards Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.