Wall Street analysts forecast that Stock Yards Bancorp, Inc. (NASDAQ:SYBT) will report sales of $62.60 million for the current quarter, Zacks reports. Two analysts have made estimates for Stock Yards Bancorp’s earnings, with estimates ranging from $61.20 million to $64.00 million. Stock Yards Bancorp posted sales of $46.74 million during the same quarter last year, which would indicate a positive year over year growth rate of 33.9%. The company is scheduled to issue its next earnings report on Wednesday, October 27th.
According to Zacks, analysts expect that Stock Yards Bancorp will report full-year sales of $239.40 million for the current year, with estimates ranging from $232.80 million to $246.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $310.50 million, with estimates ranging from $303.00 million to $318.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Tuesday, July 27th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.23). Stock Yards Bancorp had a return on equity of 16.16% and a net margin of 27.71%. The business had revenue of $57.37 million during the quarter, compared to analyst estimates of $55.40 million.
In other Stock Yards Bancorp news, President Philip Poindexter sold 3,747 shares of Stock Yards Bancorp stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $51.37, for a total transaction of $192,483.39. Following the sale, the president now directly owns 35,253 shares in the company, valued at approximately $1,810,946.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donna L. Heitzman acquired 500 shares of the company’s stock in a transaction on Friday, August 13th. The shares were acquired at an average price of $51.60 per share, for a total transaction of $25,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 10,597 shares of company stock worth $565,694. Company insiders own 6.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in Stock Yards Bancorp by 6.2% during the 2nd quarter. Morgan Stanley now owns 54,039 shares of the bank’s stock valued at $2,751,000 after acquiring an additional 3,159 shares in the last quarter. Invesco Ltd. raised its stake in Stock Yards Bancorp by 4.9% during the 2nd quarter. Invesco Ltd. now owns 27,040 shares of the bank’s stock valued at $1,376,000 after acquiring an additional 1,259 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in Stock Yards Bancorp by 101,966.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,124 shares of the bank’s stock valued at $312,000 after acquiring an additional 6,118 shares in the last quarter. Millennium Management LLC raised its stake in Stock Yards Bancorp by 193.1% during the 2nd quarter. Millennium Management LLC now owns 27,391 shares of the bank’s stock valued at $1,394,000 after acquiring an additional 18,046 shares in the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in Stock Yards Bancorp during the 2nd quarter valued at $722,000. 48.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stock Yards Bancorp stock traded up $3.18 during trading hours on Monday, reaching $58.41. The stock had a trading volume of 84,747 shares, compared to its average volume of 62,113. The firm has a 50 day simple moving average of $51.22 and a two-hundred day simple moving average of $51.37. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 22.64 and a beta of 0.81. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. Stock Yards Bancorp has a 1 year low of $33.29 and a 1 year high of $58.67.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, September 20th will be issued a dividend of $0.28 per share. This is an increase from Stock Yards Bancorp’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, September 17th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 43.24%.
About Stock Yards Bancorp
Stock Yards Bancorp, Inc is a holding company, which engages in the provision of commercial and personal banking services. It operates through the Commercial Banking; and Wealth Management and Trust segments. The Commercial Banking segment include mortgage banking and investment products sales activity.
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