Wall Street brokerages predict that Stock Yards Bancorp Inc (NASDAQ:SYBT) will post earnings per share (EPS) of $0.61 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Stock Yards Bancorp’s earnings. Stock Yards Bancorp reported earnings of $0.47 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 29.8%. The firm is scheduled to announce its next earnings report on Thursday, January 24th.
On average, analysts expect that Stock Yards Bancorp will report full year earnings of $2.38 per share for the current year, with EPS estimates ranging from $2.36 to $2.39. For the next financial year, analysts forecast that the company will report earnings of $2.44 per share, with EPS estimates ranging from $2.40 to $2.47. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Stock Yards Bancorp.
Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.01). Stock Yards Bancorp had a return on equity of 15.10% and a net margin of 27.08%. The business had revenue of $39.95 million for the quarter, compared to analyst estimates of $40.95 million. During the same quarter in the previous year, the business posted $0.51 earnings per share.
A number of analysts have weighed in on the company. Zacks Investment Research downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub downgraded Stock Yards Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Finally, ValuEngine downgraded Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. Stock Yards Bancorp presently has an average rating of “Hold” and a consensus price target of $42.00.
Stock Yards Bancorp stock traded down $1.94 during trading hours on Wednesday, reaching $29.14. 57,229 shares of the company’s stock were exchanged, compared to its average volume of 29,804. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. Stock Yards Bancorp has a twelve month low of $29.10 and a twelve month high of $41.00. The company has a market cap of $713.07 million, a P/E ratio of 15.26 and a beta of 0.61.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.43%. Stock Yards Bancorp’s dividend payout ratio is presently 52.36%.
In other news, Director Carl G. Herde bought 1,000 shares of Stock Yards Bancorp stock in a transaction dated Tuesday, September 25th. The stock was bought at an average cost of $36.60 per share, for a total transaction of $36,600.00. Following the purchase, the director now directly owns 26,149 shares in the company, valued at approximately $957,053.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl G. Herde purchased 5,000 shares of the business’s stock in a transaction on Monday, October 29th. The shares were bought at an average price of $30.75 per share, with a total value of $153,750.00. Following the purchase, the director now directly owns 31,182 shares in the company, valued at approximately $958,846.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 7,356 shares of company stock valued at $238,397. 8.42% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in SYBT. Russell Investments Group Ltd. boosted its stake in Stock Yards Bancorp by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,026 shares of the bank’s stock valued at $146,000 after purchasing an additional 2,168 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in Stock Yards Bancorp during the 2nd quarter valued at about $206,000. Sigma Planning Corp acquired a new position in Stock Yards Bancorp during the 2nd quarter valued at about $251,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Stock Yards Bancorp during the 2nd quarter valued at about $283,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Stock Yards Bancorp during the 3rd quarter valued at about $453,000. Institutional investors and hedge funds own 50.04% of the company’s stock.
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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