Stock Yards Bancorp Inc (SYBT) Expected to Announce Quarterly Sales of $40.35 Million

Analysts expect that Stock Yards Bancorp Inc (NASDAQ:SYBT) will announce $40.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Stock Yards Bancorp’s earnings. The highest sales estimate is $41.00 million and the lowest is $39.70 million. Stock Yards Bancorp posted sales of $38.22 million in the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The company is expected to issue its next earnings results on Wednesday, April 24th.

According to Zacks, analysts expect that Stock Yards Bancorp will report full-year sales of $167.35 million for the current fiscal year, with estimates ranging from $162.70 million to $172.00 million. For the next fiscal year, analysts expect that the company will report sales of $174.45 million, with estimates ranging from $167.40 million to $181.50 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Stock Yards Bancorp.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The firm had revenue of $41.49 million for the quarter, compared to analysts’ expectations of $40.40 million. Stock Yards Bancorp had a net margin of 31.70% and a return on equity of 16.07%.

SYBT has been the subject of several research analyst reports. Zacks Investment Research cut Stock Yards Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 4th. FIG Partners cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and set a $36.00 price objective for the company. in a research report on Tuesday, January 8th. BidaskClub upgraded Stock Yards Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 22nd. Finally, ValuEngine upgraded Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th.

Stock Yards Bancorp stock traded up $0.02 during mid-day trading on Friday, hitting $35.48. The company had a trading volume of 130 shares, compared to its average volume of 58,946. The firm has a market capitalization of $806.55 million, a P/E ratio of 14.66 and a beta of 0.42. Stock Yards Bancorp has a 1 year low of $28.02 and a 1 year high of $41.00. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.14.

In related news, Chairman David P. Heintzman sold 2,865 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $34.91, for a total transaction of $100,017.15. Following the completion of the transaction, the chairman now owns 142,437 shares in the company, valued at approximately $4,972,475.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul J. Bickel III purchased 1,500 shares of Stock Yards Bancorp stock in a transaction on Monday, December 24th. The shares were acquired at an average price of $31.08 per share, with a total value of $46,620.00. Following the transaction, the director now directly owns 7,725 shares in the company, valued at approximately $240,093. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,652 shares of company stock valued at $84,733 and sold 5,865 shares valued at $197,907. Company insiders own 8.42% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in shares of Stock Yards Bancorp during the fourth quarter worth $29,000. Bank of Montreal Can raised its position in shares of Stock Yards Bancorp by 35.7% during the fourth quarter. Bank of Montreal Can now owns 2,704 shares of the bank’s stock worth $89,000 after purchasing an additional 712 shares during the period. First Hawaiian Bank acquired a new stake in shares of Stock Yards Bancorp during the fourth quarter worth $114,000. Russell Investments Group Ltd. raised its position in shares of Stock Yards Bancorp by 116.7% during the third quarter. Russell Investments Group Ltd. now owns 4,026 shares of the bank’s stock worth $146,000 after purchasing an additional 2,168 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Stock Yards Bancorp during the third quarter worth $206,000. 49.92% of the stock is currently owned by institutional investors.

Stock Yards Bancorp Company Profile

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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