Stock Yards Bancorp Inc (SYBT) Forecasted to Post FY2019 Earnings of $2.59 Per Share

Stock Yards Bancorp Inc (NASDAQ:SYBT) – Stock analysts at FIG Partners lifted their FY2019 earnings per share estimates for Stock Yards Bancorp in a research report issued on Tuesday, April 30th, Zacks Investment Research reports. FIG Partners analyst J. Rodis now anticipates that the bank will post earnings per share of $2.59 for the year, up from their previous estimate of $2.50.

Several other equities analysts have also recently commented on SYBT. Zacks Investment Research raised shares of Stock Yards Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. BidaskClub lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Finally, ValuEngine lowered shares of Stock Yards Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd.

SYBT stock traded down $0.22 during midday trading on Thursday, hitting $34.52. The company’s stock had a trading volume of 25,600 shares, compared to its average volume of 44,153. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.13. Stock Yards Bancorp has a 52-week low of $28.02 and a 52-week high of $41.00. The stock has a market capitalization of $786.38 million, a PE ratio of 14.26 and a beta of 0.42.

Stock Yards Bancorp (NASDAQ:SYBT) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.09. Stock Yards Bancorp had a net margin of 31.99% and a return on equity of 16.01%. The company had revenue of $40.72 million during the quarter, compared to analysts’ expectations of $41.10 million.

In other news, Chairman David P. Heintzman sold 5,686 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.64, for a total value of $202,649.04. Following the sale, the chairman now directly owns 150,962 shares in the company, valued at approximately $5,380,285.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David P. Heintzman sold 4,322 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $34.71, for a total transaction of $150,016.62. Following the completion of the sale, the chairman now owns 150,962 shares in the company, valued at $5,239,891.02. The disclosure for this sale can be found here. Insiders bought a total of 472 shares of company stock worth $16,250 over the last 90 days. Company insiders own 8.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Quantamental Technologies LLC acquired a new stake in Stock Yards Bancorp during the 4th quarter worth $29,000. Bank of Montreal Can raised its stake in Stock Yards Bancorp by 35.7% during the 4th quarter. Bank of Montreal Can now owns 2,704 shares of the bank’s stock worth $89,000 after acquiring an additional 712 shares in the last quarter. Farmers National Bank acquired a new stake in Stock Yards Bancorp during the 1st quarter worth $94,000. SG Americas Securities LLC acquired a new stake in Stock Yards Bancorp during the 1st quarter worth $117,000. Finally, First Hawaiian Bank acquired a new stake in Stock Yards Bancorp during the 4th quarter worth $114,000. Hedge funds and other institutional investors own 50.95% 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, money market deposits, and time deposits.

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