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%. ...

Financial Performance - Stock Yards Bancorp reported third quarter earnings of $29.4 million, or $1.00 per diluted share, compared to $27.1 million, or $0.92 per diluted share in the same quarter of 2023, marking a 8.5% increase in net income year-over-year[1][2]. - Net income for the third quarter was $27.1 million, with net income per share increasing to $1.00[21]. - The company reported a net income of $10,931 million, compared to $10,795 million in the prior quarter, reflecting a growth of 1.3%[26]. - Annualized return on average assets was 1.39%, slightly up from 1.38% in the previous year[23]. - Annualized return on average equity decreased to 12.83%, compared to 13.26% in the previous year[23]. Loan and Deposit Growth - Total loans increased by $661 million, or 12%, year-over-year, with $207 million, or 3%, growth on a linked quarter basis, driven by strong demand across all loan categories[3][12]. - Total loans and leases reached $6,278,133, an increase of 11.73% compared to $5,617,084 a year ago[24]. - Total deposits increased to $6,558,286, up from $6,241,135, marking a growth of 5.08% year-over-year[23]. - Total deposits increased to $6.56 billion, up 1.1% from $6.49 billion in the previous quarter[28]. Income and Revenue - Net interest income rose by $3.7 million, or 6%, to $65.0 million, with the net interest margin at 3.33%, a slight decrease of one basis point year-over-year[5][7]. - Non-interest income increased by $1.9 million, or 8%, to $24.8 million, with significant contributions from treasury management fees and WM&T income[8][9]. - Total revenue for the quarter was $64,979 million, an increase from $62,022 million in the previous quarter, representing a growth of 4.7%[26]. Asset Growth - Total assets increased by $534 million, or 7%, year-over-year, reaching $8.44 billion as of September 30, 2024[12][14]. - Total assets reached $8,437,280 million, up from $8,315,325 million in the previous quarter, marking an increase of 1.5%[27]. - Total stockholders' equity rose to $910,274, a 12.31% increase from $810,710 in the same quarter last year[23]. Credit Quality - The provision for credit losses was recorded at $4.3 million, reflecting strong loan growth and changes in economic forecasts, compared to $2.3 million in the same quarter of 2023[8][12]. - Non-performing loans to total loans improved to 0.27%, down from 0.31% in the previous year[24]. - The allowance for credit losses on loans to total loans was 1.36%, a slight decrease from 1.39% in the previous year[24]. Efficiency and Cost Management - Non-interest expenses decreased by $657,000 to $48.5 million, as compensation expense increases were offset by reductions in other areas[16]. - The efficiency ratio improved to 53.92%, down from 55.38% in the previous year, indicating better cost management[23]. - Efficiency ratio improved to 53.92%, down from 57.26% in the previous quarter, indicating better cost management[31]. Shareholder Returns - The board of directors increased the quarterly cash dividend to $0.31 per common share, reflecting the company's commitment to returning value to shareholders[14]. - Book value per share was reported at $27.52, with a market value per share of $39.29[22]. - The book value per share improved to $31.76 from $30.44, showing a growth of 4.3%[27]. Recognition and Strategic Focus - Stock Yards Bancorp was recognized as a "Sm-All Star" by Piper Sandler, highlighting its strong performance across various financial metrics[4]. - The company is focusing on expanding its market presence and enhancing its product offerings through new technology developments and strategic acquisitions[26].

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 ...

The price trend for Stock Yards Bancorp (SYBT) has been bearish lately and the stock has lost 6.4% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor t ...

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. You can see the current list of Zacks #1 Rank Stocks here >>> Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the u ...