Wall Street analysts predict that Stock Yards Bancorp Inc (NASDAQ:SYBT) will post sales of $40.95 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Stock Yards Bancorp’s earnings, with the highest sales estimate coming in at $41.40 million and the lowest estimate coming in at $40.50 million. Stock Yards Bancorp posted sales of $37.27 million during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full year sales of $160.40 million for the current year, with estimates ranging from $159.50 million to $161.30 million. For the next year, analysts expect that the firm will post sales of $167.60 million, with estimates ranging from $166.40 million to $168.80 million. Zacks’ sales averages are an 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 25th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The company had revenue of $40.11 million during the quarter, compared to analysts’ expectations of $39.04 million. Stock Yards Bancorp had a return on equity of 14.66% and a net margin of 26.61%.
A number of research analysts have issued reports on SYBT shares. Zacks Investment Research raised Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Saturday, July 28th. BidaskClub raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, ValuEngine cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.
In other Stock Yards Bancorp news, CEO David P. Heintzman sold 2,571 shares of Stock Yards Bancorp stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $38.90, for a total transaction of $100,011.90. Following the completion of the transaction, the chief executive officer now directly owns 170,552 shares of the company’s stock, valued at $6,634,472.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Bickel III purchased 1,000 shares of the business’s stock in a transaction that occurred 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 acquisition, 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. Over the last three months, insiders have acquired 2,765 shares of company stock valued at $102,006. Company insiders own 6.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Deprince Race & Zollo Inc. raised its holdings in shares of Stock Yards Bancorp by 6.3% in the third quarter. Deprince Race & Zollo Inc. now owns 82,933 shares of the bank’s stock valued at $3,010,000 after buying an additional 4,883 shares during the last quarter. Stock Yards Bank & Trust Co. raised its holdings in shares of Stock Yards Bancorp by 10.1% in the third quarter. Stock Yards Bank & Trust Co. now owns 1,006,160 shares of the bank’s stock valued at $36,523,000 after buying an additional 92,360 shares during the last quarter. American Research & Management Co. raised its holdings in shares of Stock Yards Bancorp by 57.4% in the third quarter. American Research & Management Co. now owns 36,125 shares of the bank’s stock valued at $1,311,000 after buying an additional 13,175 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Stock Yards Bancorp by 61.2% in the second quarter. Schroder Investment Management Group now owns 12,992 shares of the bank’s stock valued at $501,000 after buying an additional 4,934 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Stock Yards Bancorp in the second quarter valued at about $1,303,000. 47.61% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ SYBT traded down $0.83 during midday trading on Friday, reaching $32.98. 32,500 shares of the company traded hands, compared to its average volume of 54,106. The stock has a market cap of $780.41 million, a PE ratio of 17.27 and a beta of 0.52. Stock Yards Bancorp has a 12 month low of $32.92 and a 12 month high of $41.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 17th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, September 14th. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 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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