Stock Yards Bancorp, Inc. (NASDAQ:SYBT) Expected to Post Quarterly Sales of $77.60 Million

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Equities analysts expect Stock Yards Bancorp, Inc. (NASDAQ:SYBTGet Rating) to report $77.60 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Stock Yards Bancorp’s earnings. The lowest sales estimate is $76.20 million and the highest is $79.00 million. Stock Yards Bancorp posted sales of $57.37 million during the same quarter last year, which suggests a positive year-over-year growth rate of 35.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Stock Yards Bancorp will report full-year sales of $307.95 million for the current year, with estimates ranging from $300.90 million to $315.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $334.45 million, with estimates ranging from $330.90 million to $338.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Stock Yards Bancorp.

Stock Yards Bancorp (NASDAQ:SYBTGet Rating) last announced its earnings results on Wednesday, April 27th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). Stock Yards Bancorp had a net margin of 30.73% and a return on equity of 15.65%.

SYBT has been the subject of several research analyst reports. Zacks Investment Research downgraded Stock Yards Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, February 5th. StockNews.com initiated coverage on Stock Yards Bancorp in a research note on Thursday, March 31st. They issued a “sell” rating for the company.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in Stock Yards Bancorp by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 11,364 shares of the bank’s stock valued at $726,000 after buying an additional 197 shares during the last quarter. ARGI Investment Services LLC grew its holdings in shares of Stock Yards Bancorp by 2.9% during the 3rd quarter. ARGI Investment Services LLC now owns 11,919 shares of the bank’s stock worth $699,000 after purchasing an additional 339 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Stock Yards Bancorp by 9.4% during the 1st quarter. Diversified Trust Co now owns 4,300 shares of the bank’s stock worth $227,000 after purchasing an additional 370 shares in the last quarter. Atlas Brown Inc. grew its holdings in shares of Stock Yards Bancorp by 4.0% during the 1st quarter. Atlas Brown Inc. now owns 10,240 shares of the bank’s stock worth $542,000 after purchasing an additional 390 shares in the last quarter. Finally, Chatham Capital Group Inc. grew its holdings in shares of Stock Yards Bancorp by 1.4% during the 1st quarter. Chatham Capital Group Inc. now owns 28,110 shares of the bank’s stock worth $1,487,000 after purchasing an additional 396 shares in the last quarter. 50.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ SYBT opened at $52.86 on Friday. Stock Yards Bancorp has a 12 month low of $45.92 and a 12 month high of $67.40. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 17.98 and a beta of 0.75. The business has a fifty day simple moving average of $53.46 and a 200-day simple moving average of $59.04.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Monday, March 21st were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, March 18th. Stock Yards Bancorp’s dividend payout ratio is 38.10%.

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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