Core Insights - Stock Yards Bancorp, Inc. reported record earnings of $31.7 million, or $1.07 per diluted share, for Q4 2024, compared to $23.9 million, or $0.82 per diluted share, in Q4 2023, with full-year net income reaching $114.5 million [1][29][30] - The company experienced significant loan growth, with total loans increasing by $749 million, or 13%, over the past 12 months, and $242 million, or 4%, in the linked quarter [1][6][15] - Net interest margin expanded to 3.44% in Q4 2024, up from 3.25% in Q4 2023, driven by strong loan growth and higher interest-earning asset yields [2][3][21] Financial Performance - Net interest income for Q4 2024 was $70.0 million, an increase of $8.0 million, or 13%, compared to Q4 2023 [2][8] - Non-interest income decreased by $910,000, or 4%, to $23.5 million in Q4 2024 compared to the same quarter in 2023 [10][24] - Total non-interest expenses increased by $1.6 million, or 3%, to $51.7 million in Q4 2024 compared to Q4 2023 [13][24] Asset and Loan Growth - As of December 31, 2024, total assets increased by $693 million, or 8%, year-over-year, reaching $8.86 billion [14][19] - The company’s loan portfolio reached $6.52 billion, with commercial real estate loans leading the growth with an increase of $203 million [15][30] - Total deposits grew by $496 million, or 7%, over the past 12 months, with a shift towards higher-cost deposits [17][33] Credit Quality and Provisions - The provision for credit losses was $2.7 million in Q4 2024, down from $6.0 million in Q4 2023, reflecting improved credit quality [9][23] - Non-performing loans totaled $22 million, or 0.34% of total loans, slightly up from $19 million, or 0.33%, a year earlier [18][33] Capital and Dividends - The company maintained a "well-capitalized" status with total equity to assets at 10.61% and a tangible common equity ratio of 8.44% as of December 31, 2024 [19][30] - A quarterly cash dividend of $0.31 per common share was declared in November 2024, marking a slight increase from the previous quarter [20][30]

Core Viewpoint - Stock Yards Bancorp (SYBT) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3][10] Earnings Estimates and Revisions - For the fiscal year ending December 2024, Stock Yards is expected to earn $3.76 per share, reflecting a 2.7% increase from the previous year [8] - Over the past three months, the Zacks Consensus Estimate for Stock Yards has increased by 2.9%, indicating a trend of rising earnings estimates [8] Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating, highlighting superior earnings estimate revisions [9][10] - The Zacks Rank 2 upgrade places Stock Yards in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10] Impact of Earnings on Stock Prices - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4][6] - Institutional investors utilize earnings estimates to assess fair value, influencing their buying and selling decisions, which in turn affects stock prices [4]

Financial Performance - Net income for the three months ended September 30, 2024, was $29.4 million, an increase of 8% from $27.1 million in the same period of 2023, resulting in diluted EPS of $1.00 compared to $0.92[215] - Net income for the nine months ended September 30, 2024, was $82.8 million, a decrease of 1% from $83.8 million in the same period of 2023, resulting in diluted EPS of $2.82 compared to $2.86[217] Loan Growth - Total loans increased by $661 million, or 12%, compared to September 30, 2023, with average loans rising by $688 million, or 13%[215] - Total loans increased by $661 million, or 12%, compared to September 30, 2023, with average loans also rising by $649 million, or 12%[217] - Average total loan balances increased by $688 million, or 13%, for the three months ended September 30, 2024, compared to the same period of 2023[234] - Total loans increased to $6,278,133 thousand, with fixed-rate loans representing 69% and variable-rate loans 31% of the total[344] Deposit Growth - Deposit balances increased by $323 million, or 5%, driven by growth in time deposits due to successful promotional rate offerings[215] - Deposit balances climbed $323 million, or 5%, driven by growth in time deposits, while average deposits increased by $270 million, or 4%[217] - Total deposits increased by $55 million, or 1%, from December 31, 2023, to September 30, 2024[368] Interest Income and Expenses - Net interest income (FTE) totaled $65.1 million, a 6% increase from the prior year, with interest income rising by $16.8 million, or 19%[215] - Net interest income (FTE) totaled $187.3 million for the nine months ended September 30, 2024, representing a $1.6 million, or 1%, increase compared to the same period in 2023[217] - Total interest income (FTE) increased by $16.8 million, or 19%, to $106 million for the three months ended September 30, 2024, compared to the same period of 2023[236] - Total interest expense increased by $49.4 million, or 75%, for the nine months ended September 30, 2024, driven by a significant rise in rates paid on deposits[261] Credit Losses and Allowance - Allowance for credit losses (ACL) on loans rose by $7 million, or 9%, attributed to significant loan growth and a deterioration in the Federal Reserve's unemployment forecast[215] - The allowance for credit losses (ACL) for loans was $85 million as of September 30, 2024, compared to $79 million at September 30, 2023, representing an ACL to total loans ratio of 1.36% and 1.39% for the respective periods[283] - Provision for credit losses on loans was $4.3 million for the three months ended September 30, 2024, attributed mainly to strong loan growth and deterioration in the FRB unemployment forecast[284] Non-Interest Income and Expenses - Non-interest income grew by $1.9 million, or 8%, largely due to strong performance in wealth management and treasury management fees[216] - Non-interest income increased by $3.9 million, or 6%, attributed to strong WM&T fees, treasury management fees, and card income[219] - Non-interest expenses increased by $1.8 million, or 4%, primarily due to higher compensation expenses and technology upgrades[216] - Non-interest expenses rose by $8.7 million, or 6%, primarily due to higher compensation, employee benefits, and technology expenses[219] Efficiency and Capital Ratios - The efficiency ratio (FTE) improved to 53.92% from 54.57% year-over-year, reflecting strong growth in net interest and non-interest income[216] - Bancorp maintained a "well-capitalized" status, with total stockholders' equity to total assets at 11.07%[216] - Tangible common equity to tangible assets increased to 8.79% as of September 30, 2024, compared to 8.09% and 7.69% at the end of 2023 and the same period in 2023, respectively[216] Economic Outlook - The current economic outlook remains volatile, with potential for multiple rate reductions in the coming months, impacting NIM and funding costs[227] Asset Management - Assets under management (AUM) totaled $7.32 billion at September 30, 2024, up from $6.67 billion at September 30, 2023, attributed mainly to strong equity market appreciation[295] - Approximately 80% of AUM were actively managed as of September 30, 2024, down from 82% at December 31, 2023[300] - Managed assets composition as of September 30, 2024 consisted of approximately 67% in equities and 33% in fixed income securities, compared to 64% and 36% as of December 31, 2023[303] Loan Quality - Non-performing loans decreased to $17,158 thousand from $19,168 thousand as of December 31, 2023, resulting in a non-performing loans to total loans ratio of 0.27%[346] - Delinquent loans increased to $28 million, with a delinquent loans to total loans ratio of 0.44% as of September 30, 2024, compared to 0.30% at December 31, 2023[348] - Classified loans rose to $167 million as of September 30, 2024, up from $96 million at December 31, 2023, primarily due to increases in OAEM and substandard classifications[349]

Core Insights - Stock Yards Bancorp (SYBT) reported revenue of $89.86 million for the quarter ended September 2024, reflecting a year-over-year increase of 6.6% [1] - Earnings per share (EPS) for the quarter was $1.00, up from $0.92 in the same quarter last year, exceeding the consensus estimate of $0.93 [1] - The revenue surpassed the Zacks Consensus Estimate of $87.57 million, resulting in a surprise of +2.62% [1] Financial Performance Metrics - Efficiency Ratio was reported at 53.9%, better than the two-analyst average estimate of 57.4% [2] - Net Interest Margin stood at 3.3%, matching the two-analyst average estimate [2] - Total non-interest income reached $24.80 million, exceeding the average estimate of $23.90 million based on two analysts [2] Stock Performance - Shares of Stock Yards have returned +4.6% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [2] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [2]

Stock Yards Bancorp (SYBT) came out with quarterly earnings of $1 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.53%. A quarter ago, it was expected that this holding company for Stock Yards Bank & Trust Co. Would post earnings of $0.84 per share when it actually produced earnings of $0.94, delivering a surprise of 11.90%. ...

EXHIBIT 99.1 Stock Yards Bancorp Reports Third Quarter Earnings of $29.4 Million or $1.00 Per Diluted Share Record Third Quarter Results Highlighted by Linked Quarter Net Interest Margin Expansion and Robust Loan Growth LOUISVILLE, Ky., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by it ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momen ...

Investors might want to bet on Stock Yards Bancorp (SYBT) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Individu ...

Stock Yards Bancorp, Inc. (SYBT) announced a quarterly cash dividend of 31 cents per share. This reflects a 3.3% hike from the prior payout. The dividend will be paid out on Oct 1, 2024, to shareholders of record as of Sep 16. Markedly, with this announcement, Stock Yards Bancorp has increased its quarterly dividend 17 times since 2011, reflecting a cumulative hike of 158% over the period. Currently, SYBT's payout ratio is 34% of earnings. This indicates that it retains adequate earnings for reinvestment an ...