Brokerages forecast that S.Y. Bancorp, Inc. (NASDAQ:SYBT) will report sales of $38.43 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for S.Y. Bancorp’s earnings. The lowest sales estimate is $38.10 million and the highest is $38.76 million. S.Y. Bancorp posted sales of $35.98 million in the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The firm is expected to report its next quarterly earnings results on Wednesday, April 25th.
On average, analysts expect that S.Y. Bancorp will report full year sales of $38.43 million for the current year, with estimates ranging from $157.90 million to $158.71 million. For the next fiscal year, analysts forecast that the business will report sales of $166.09 million per share, with estimates ranging from $163.77 million to $168.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover S.Y. Bancorp.
S.Y. Bancorp (NASDAQ:SYBT) last announced its earnings results on Thursday, January 25th. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $38.57 million during the quarter, compared to analysts’ expectations of $38.01 million. S.Y. Bancorp had a net margin of 24.39% and a return on equity of 13.38%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of S.Y. Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday. FIG Partners raised shares of S.Y. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, March 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 target price on shares of S.Y. Bancorp in a research note on Friday, January 26th. Finally, BidaskClub cut shares of S.Y. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.00.
In other S.Y. Bancorp news, insider William Dishman purchased 1,755 shares of S.Y. Bancorp stock in a transaction on Monday, March 26th. The shares were acquired at an average cost of $36.18 per share, for a total transaction of $63,495.90. Following the completion of the transaction, the insider now directly owns 17,584 shares of the company’s stock, valued at $636,189.12. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Carl G. Herde purchased 3,000 shares of S.Y. Bancorp stock in a transaction on Monday, March 19th. The shares were acquired at an average price of $36.05 per share, for a total transaction of $108,150.00. Following the completion of the transaction, the director now directly owns 25,090 shares of the company’s stock, valued at $904,494.50. The disclosure for this purchase can be found here. Insiders have acquired 6,249 shares of company stock worth $224,878 over the last quarter. Company insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SYBT. Champlain Investment Partners LLC grew its holdings in shares of S.Y. Bancorp by 12.8% in the fourth quarter. Champlain Investment Partners LLC now owns 886,876 shares of the bank’s stock worth $33,435,000 after purchasing an additional 100,720 shares during the last quarter. Walthausen & Co. LLC grew its holdings in shares of S.Y. Bancorp by 15.6% in the third quarter. Walthausen & Co. LLC now owns 319,448 shares of the bank’s stock worth $12,139,000 after purchasing an additional 43,160 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of S.Y. Bancorp by 10.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 312,263 shares of the bank’s stock worth $11,772,000 after purchasing an additional 28,512 shares during the last quarter. BlackRock Inc. grew its holdings in shares of S.Y. Bancorp by 1.2% in the fourth quarter. BlackRock Inc. now owns 1,541,618 shares of the bank’s stock worth $58,121,000 after purchasing an additional 18,775 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of S.Y. Bancorp by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 197,065 shares of the bank’s stock worth $7,429,000 after purchasing an additional 15,271 shares during the last quarter. Institutional investors and hedge funds own 48.15% of the company’s stock.
Shares of SYBT opened at $35.55 on Friday. The company has a market capitalization of $820.02, a P/E ratio of 18.61 and a beta of 0.65. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. S.Y. Bancorp has a 1-year low of $31.90 and a 1-year high of $44.50.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 19th were given a dividend of $0.23 per share. This is a boost from S.Y. Bancorp’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, March 16th. S.Y. Bancorp’s dividend payout ratio (DPR) is presently 48.17%.
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About S.Y. 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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