Zacks: Brokerages Expect Stock Yards Bancorp, Inc. (NASDAQ:SYBT) to Post $0.88 Earnings Per Share

Analysts expect that Stock Yards Bancorp, Inc. (NASDAQ:SYBTGet Rating) will report earnings per share of $0.88 for the current quarter, according to Zacks. Two analysts have made estimates for Stock Yards Bancorp’s earnings. Stock Yards Bancorp posted earnings per share of $1.00 in the same quarter last year, which would indicate a negative year-over-year growth rate of 12%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Stock Yards Bancorp will report full-year earnings of $3.80 per share for the current year, with EPS estimates ranging from $3.75 to $3.85. For the next financial year, analysts expect that the firm will post earnings of $3.90 per share, with EPS estimates ranging from $3.85 to $3.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Stock Yards Bancorp.

Stock Yards Bancorp (NASDAQ:SYBTGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.15). Stock Yards Bancorp had a return on equity of 15.16% and a net margin of 23.13%.

SYBT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Stock Yards Bancorp from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Saturday, April 30th. StockNews.com upgraded shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Hovde Group initiated coverage on shares of Stock Yards Bancorp in a research note on Wednesday, May 18th. They set a “market perform” rating on the stock.

In other news, EVP Kathy C. Thompson sold 2,000 shares of the stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $57.18, for a total value of $114,360.00. Following the transaction, the executive vice president now owns 26,925 shares of the company’s stock, valued at approximately $1,539,571.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathy C. Thompson sold 4,949 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $60.62, for a total transaction of $300,008.38. Following the completion of the transaction, the executive vice president now directly owns 24,567 shares in the company, valued at approximately $1,489,251.54. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its holdings in shares of Stock Yards Bancorp by 10.2% during the 1st quarter. Neuberger Berman Group LLC now owns 642,985 shares of the bank’s stock valued at $34,014,000 after purchasing an additional 59,436 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Stock Yards Bancorp by 1.7% during the 1st quarter. Guggenheim Capital LLC now owns 14,835 shares of the bank’s stock valued at $785,000 after purchasing an additional 247 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Stock Yards Bancorp by 80.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 27,344 shares of the bank’s stock valued at $1,447,000 after purchasing an additional 12,164 shares during the last quarter. State Street Corp grew its holdings in shares of Stock Yards Bancorp by 3.5% during the 1st quarter. State Street Corp now owns 478,203 shares of the bank’s stock valued at $25,429,000 after purchasing an additional 16,094 shares during the last quarter. Finally, Crawford Investment Counsel Inc. bought a new position in shares of Stock Yards Bancorp during the 1st quarter valued at $1,888,000. 51.96% of the stock is currently owned by hedge funds and other institutional investors.

SYBT opened at $58.77 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 26.24 and a beta of 0.70. Stock Yards Bancorp has a twelve month low of $45.92 and a twelve month high of $67.40. The company’s 50-day moving average price is $54.81 and its two-hundred day moving average price is $57.57.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 20th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 16th. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

About Stock Yards Bancorp (Get Rating)

Stock Yards Bancorp, Inc operates as a holding company for Stock Yards Bank & Trust Company and SYB Insurance Company, Inc that provides various banking products and services in Louisville, Indianapolis, Indiana, and Ohio. It operates in two segments, Commercial Banking and WM&T. The Commercial Banking segment provides mortgage banking and deposit services; retail, commercial, and commercial real estate lending services; and leasing, treasury management, merchant, international banking, correspondent banking, and other banking services.

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