Wall Street brokerages expect that Stock Yards Bancorp Inc (NASDAQ:SYBT) will post $40.95 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Stock Yards Bancorp’s earnings. The highest sales estimate is $41.40 million and the lowest is $40.50 million. Stock Yards Bancorp reported sales of $37.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.9%. The firm is expected to report its next earnings results on Wednesday, October 24th.
On average, 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 fiscal year, analysts anticipate that the company will report sales of $167.60 million per share, with estimates ranging from $166.40 million to $168.80 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings data on Wednesday, July 25th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $40.11 million for the quarter, compared to the consensus estimate of $39.04 million. Stock Yards Bancorp had a return on equity of 14.66% and a net margin of 26.61%.
SYBT has been the topic of a number of research reports. Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. BidaskClub raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, ValuEngine raised Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.00.
In other news, insider Kathy C. Thompson sold 3,524 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $39.73, for a total value of $140,008.52. Following the completion of the transaction, the insider now directly owns 40,053 shares of the company’s stock, valued at $1,591,305.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David P. Heintzman sold 8,967 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $39.85, for a total value of $357,334.95. Following the completion of the transaction, the chief executive officer now directly owns 170,552 shares of the company’s stock, valued at $6,796,497.20. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,155 shares of company stock valued at $45,687. 6.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new position in Stock Yards Bancorp in the second quarter valued at approximately $206,000. Citadel Advisors LLC lifted its stake in Stock Yards Bancorp by 69.0% in the second quarter. Citadel Advisors LLC now owns 58,156 shares of the bank’s stock valued at $2,219,000 after purchasing an additional 23,741 shares during the last quarter. Cox Capital Co LLC purchased a new position in Stock Yards Bancorp in the second quarter valued at approximately $1,388,000. Dimensional Fund Advisors LP lifted its stake in Stock Yards Bancorp by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 868,957 shares of the bank’s stock valued at $33,151,000 after purchasing an additional 27,605 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Stock Yards Bancorp by 4.1% in the second quarter. BlackRock Inc. now owns 1,593,343 shares of the bank’s stock valued at $60,788,000 after purchasing an additional 62,148 shares during the last quarter. 47.74% of the stock is owned by institutional investors.
Shares of Stock Yards Bancorp traded down $0.20, reaching $37.90, during midday trading on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 15,846 shares, compared to its average volume of 38,469. The company has a market capitalization of $866.67 million, a price-to-earnings ratio of 17.72 and a beta of 0.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.89. Stock Yards Bancorp has a fifty-two week low of $31.90 and a fifty-two week high of $41.90.
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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