Wall Street brokerages forecast that Stock Yards Bancorp Inc (NASDAQ:SYBT) will report earnings of $0.65 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Stock Yards Bancorp’s earnings, with estimates ranging from $0.64 to $0.66. Stock Yards Bancorp reported earnings of $0.60 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The firm is scheduled to issue its next earnings report on Wednesday, October 23rd.
On average, analysts expect that Stock Yards Bancorp will report full year earnings of $2.72 per share for the current financial year, with EPS estimates ranging from $2.69 to $2.74. For the next year, analysts forecast that the business will report earnings of $2.65 per share, with EPS estimates ranging from $2.57 to $2.72. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.11. The firm had revenue of $43.04 million during the quarter, compared to the consensus estimate of $42.35 million. Stock Yards Bancorp had a net margin of 32.58% and a return on equity of 16.33%.
In related news, President Philip Poindexter sold 2,464 shares of Stock Yards Bancorp stock in a transaction on Monday, September 16th. The shares were sold at an average price of $38.00, for a total transaction of $93,632.00. Following the completion of the transaction, the president now owns 29,533 shares of the company’s stock, valued at $1,122,254. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathy C. Thompson sold 2,800 shares of Stock Yards Bancorp stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $35.77, for a total transaction of $100,156.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 362 shares of company stock valued at $13,356 and have sold 27,184 shares valued at $1,008,496. 8.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SYBT. Nuveen Asset Management LLC bought a new position in Stock Yards Bancorp during the second quarter worth $4,988,000. Heartland Advisors Inc. raised its stake in Stock Yards Bancorp by 72.6% during the second quarter. Heartland Advisors Inc. now owns 244,551 shares of the bank’s stock worth $8,841,000 after buying an additional 102,832 shares during the last quarter. American Research & Management Co. raised its stake in Stock Yards Bancorp by 162.6% during the second quarter. American Research & Management Co. now owns 64,525 shares of the bank’s stock worth $2,333,000 after buying an additional 39,950 shares during the last quarter. Wells Fargo & Company MN raised its stake in Stock Yards Bancorp by 60.8% during the second quarter. Wells Fargo & Company MN now owns 98,622 shares of the bank’s stock worth $3,565,000 after buying an additional 37,304 shares during the last quarter. Finally, Eaton Vance Management raised its stake in Stock Yards Bancorp by 10.5% during the second quarter. Eaton Vance Management now owns 355,821 shares of the bank’s stock worth $12,863,000 after buying an additional 33,918 shares during the last quarter. 50.74% of the stock is owned by institutional investors and hedge funds.
Shares of SYBT stock traded down $0.15 during trading hours on Tuesday, hitting $37.45. 21,872 shares of the company’s stock traded hands, compared to its average volume of 43,606. The stock’s 50 day simple moving average is $36.71 and its 200 day simple moving average is $35.63. The stock has a market cap of $836.44 million, a PE ratio of 15.48 and a beta of 0.49. Stock Yards Bancorp has a 12 month low of $28.02 and a 12 month high of $38.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.22.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 16th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, September 13th. Stock Yards Bancorp’s dividend payout ratio is presently 42.98%.
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, money market deposits, and time deposits.
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