Stock Yards Bancorp Inc (NASDAQ:SYBT) Expected to Post Earnings of $0.68 Per Share
Analysts forecast that Stock Yards Bancorp Inc (NASDAQ:SYBT) will announce earnings of $0.68 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Stock Yards Bancorp’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.70. Stock Yards Bancorp reported earnings per share of $0.64 during the same quarter last year, which would suggest a positive year over year growth rate of 6.3%. The business is scheduled to report its next quarterly earnings results on Thursday, January 23rd.
According to Zacks, analysts expect that Stock Yards Bancorp will report full year earnings of $2.82 per share for the current fiscal year, with EPS estimates ranging from $2.78 to $2.86. For the next fiscal year, analysts forecast that the business will post earnings of $2.65 per share, with EPS estimates ranging from $2.52 to $2.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.11. Stock Yards Bancorp had a net margin of 33.17% and a return on equity of 16.75%. The company had revenue of $45.37 million for the quarter, compared to the consensus estimate of $43.45 million.
Shares of NASDAQ SYBT opened at $40.91 on Friday. The company has a 50 day simple moving average of $39.74 and a two-hundred day simple moving average of $36.80. The stock has a market cap of $935.32 million, a price-to-earnings ratio of 14.78 and a beta of 0.51. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.21. Stock Yards Bancorp has a 12 month low of $28.02 and a 12 month high of $41.64.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Stock Yards Bancorp’s previous quarterly dividend of $0.26. Stock Yards Bancorp’s dividend payout ratio is currently 42.98%.
In related news, EVP Michael Croce sold 970 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $38.09, for a total value of $36,947.30. Following the completion of the transaction, the executive vice president now directly owns 12,686 shares in the company, valued at approximately $483,209.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David P. Heintzman sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $41.40, for a total transaction of $82,800.00. Following the completion of the transaction, the chairman now owns 144,684 shares of the company’s stock, valued at $5,989,917.60. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 348 shares of company stock worth $13,289 and have sold 25,940 shares worth $995,452. 8.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of Stock Yards Bancorp by 220.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,194 shares of the bank’s stock worth $117,000 after acquiring an additional 2,196 shares in the last quarter. California State Teachers Retirement System boosted its position in Stock Yards Bancorp by 2.2% during the third quarter. California State Teachers Retirement System now owns 31,889 shares of the bank’s stock worth $1,170,000 after purchasing an additional 685 shares in the last quarter. Stifel Financial Corp boosted its position in Stock Yards Bancorp by 23.6% during the third quarter. Stifel Financial Corp now owns 178,690 shares of the bank’s stock worth $6,556,000 after purchasing an additional 34,129 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Stock Yards Bancorp by 134.9% in the third quarter. Russell Investments Group Ltd. now owns 8,714 shares of the bank’s stock valued at $321,000 after purchasing an additional 5,005 shares during the period. Finally, American Research & Management Co. grew its holdings in Stock Yards Bancorp by 1.7% in the third quarter. American Research & Management Co. now owns 65,600 shares of the bank’s stock valued at $2,407,000 after purchasing an additional 1,075 shares during the period. 51.25% of the stock is owned by institutional investors.
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, money market deposits, and time deposits.
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