Wall Street analysts expect that Stock Yards Bancorp Inc (NASDAQ:SYBT) will report sales of $37.06 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Stock Yards Bancorp’s earnings, with the lowest sales estimate coming in at $37 million and the highest estimate coming in at $37.12 million. Stock Yards Bancorp posted sales of $34.73 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The company is expected to announce its next quarterly earnings report on Wednesday, July 26th.
On average, analysts expect that Stock Yards Bancorp will report full year sales of $37.06 million for the current fiscal year, with estimates ranging from $149 million to $149.17 million. For the next year, analysts anticipate that the company will post sales of $158.12 million per share, with estimates ranging from $155.83 million to $160.4 million. Zacks’ sales averages are an average based on a survey of research firms that cover Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last released its earnings results on Wednesday, April 26th. The bank reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Stock Yards Bancorp had a return on equity of 13.48% and a net margin of 28.16%. The company had revenue of $35.98 million for the quarter, compared to analysts’ expectations of $36.25 million. During the same quarter in the previous year, the business posted $0.44 EPS. Separately, Zacks Investment Research raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 29th.
Stock Yards Bancorp (NASDAQ:SYBT) traded down 3.66% during trading on Wednesday, reaching $37.50. The company’s stock had a trading volume of 31,571 shares. The stock’s 50 day moving average is $40.24 and its 200-day moving average is $42.53. The firm has a market cap of $849.75 million, a P/E ratio of 20.49 and a beta of 0.71. Stock Yards Bancorp has a 52 week low of $26.53 and a 52 week high of $48.05. The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.19. Stock Yards Bancorp’s dividend payout ratio (DPR) is currently 42.14%.
In other news, CEO David P. Heintzman sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $40.31, for a total transaction of $40,310.00. Following the sale, the chief executive officer now owns 170,309 shares of the company’s stock, valued at $6,865,155.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David P. Heintzman sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $39.80, for a total value of $60,018.40. Following the sale, the chief executive officer now directly owns 169,309 shares in the company, valued at approximately $6,738,498.20. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 236 shares of company stock worth $10,027 and have sold 4,425 shares worth $180,326. Company insiders own 8.40% of the company’s stock. A number of large investors have recently made changes to their positions in SYBT. Glenview Trust Co purchased a new stake in shares of Stock Yards Bancorp during the fourth quarter worth about $2,280,000. Boston Private Wealth LLC raised its stake in shares of Stock Yards Bancorp by 35.2% in the third quarter. Boston Private Wealth LLC now owns 13,405 shares of the bank’s stock worth $442,000 after buying an additional 3,490 shares in the last quarter. Formidable Asset Management LLC raised its stake in shares of Stock Yards Bancorp by 6.1% in the fourth quarter. Formidable Asset Management LLC now owns 99,730 shares of the bank’s stock worth $4,682,000 after buying an additional 5,701 shares in the last quarter. Comerica Bank raised its stake in shares of Stock Yards Bancorp by 82.9% in the fourth quarter. Comerica Bank now owns 21,978 shares of the bank’s stock worth $1,024,000 after buying an additional 9,963 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Stock Yards Bancorp by 232.6% in the fourth quarter. FMR LLC now owns 1,851,106 shares of the bank’s stock worth $86,909,000 after buying an additional 1,294,618 shares in the last quarter. 39.96% of the stock is currently owned by institutional investors and hedge funds.
About Stock Yards Bancorp 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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