NASDAQ$SYBT

Stock Yards Bancorp Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported first quarter earnings, showing a decrease in net income but record loan production and deposit growth amidst a difficult operating environment.

Stock Yards Bancorp reported a net income of $13.2 million, or $0.59 per diluted share, for the first quarter of 2020. This compares to a net income of $15.6 million, or $0.68 per diluted share, for the first quarter of 2019. The results reflect a significant provision for credit losses due to loan growth and the potential economic effects of the COVID-19 pandemic.

  • Net income for the first quarter was $13.2 million, or $0.59 per diluted share.
  • A significant provision for credit losses was recorded due to loan growth and potential economic effects of the COVID-19 pandemic.
  • Record first quarter loan production and deposit growth were achieved.
  • The company actively participated in the federal PPP program, approving 2,190 loan requests for approximately $583 million.

Headline financials

Total Revenue

$45M

Previous: $40.7M+10.5%
EPS (adj)

$0.59

Previous: $0.68-13.2%
Net Interest Margin

3.7%

Previous: 3.9%-4.6%
Efficiency Ratio

53.2%

Previous: 55.5%-4.1%
ROA (Annualized)

1.4%

Previous: 1.9%-26.3%
ROE (Annualized)

13.2%

Previous: 17.1%-22.9%
TCE / Tangible Assets

10.5%

Previous: 11.5%-8.6%
NPL / Loans

0.2%

No prior period
NPAs / Total Assets

0.2%

No prior period
Total RBC

12.8%

No prior period
CET1 RBC

11.8%

No prior period
Tier 1 RBC

11.8%

No prior period
Leverage Ratio

10.8%

No prior period
Capital Expenditures

-$1.56M

Previous: -$2M+21.8%
Free Cash Flow

$11.7M

Previous: $13.6M-14.5%
Net Income

$13.2M

Previous: $15.6M-15.4%
Operating Income

$22.7M

Previous: $18.1M+25.0%
Gross Profit

$44.9M

Previous: $40.7M+10.4%
Cash & Equivalents

$255M

Previous: $111M+128.6%
Total Assets

$3.78B

Previous: $3.28B+15.3%
Stock-Based Comp

$817K

Previous: $863K-5.3%

Revenue & EPS history

Stock Yards Bancorp · Revenue · Quarterly

$45M

Q1 2020+10.5%vs Q1 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Stock Yards Bancorp · $12.5M total across 8 segments · Q1 2020

  • Wealth Mgmt & Trust
    $6.22M+14.3%
  • Card Income
    $1.98M+13.5%
  • Treasury Fees
    $1.28M+11.0%
  • Deposit Charges
    $1.28M+8.9%
  • Mortgage Banking
    $846K+88.0%
  • Investment Commissions
    $466K+30.9%
  • Other Income
    $280K-44.7%
  • BOLI Income
    $179K+0.6%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.5%

Avg return

Earnings day

+1.2%

Avg return

5 days after

+2.2%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+8.7%

Q1 2020

Best reaction

-8.6%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%+2.5%+1.0%
Q4 2025-0.6%+0.8%-5.8%
Q3 2025-0.9%+1.6%+2.2%
Q1 2025+1.2%+0.2%+0.3%
Q4 2024+0.4%+1.7%-1.1%
Q3 2024+2.7%+3.4%+17.6%
Q2 2024+8.1%+4.1%+2.5%
Q1 2024+1.1%-0.5%+2.2%
Q4 2023+2.9%+5.3%-7.9%
Q3 2023+2.6%+1.6%+20.6%
Q2 2023+1.9%+0.1%-6.1%
Q1 2023+4.2%+1.3%-9.7%
Q4 2022-2.4%-3.3%-2.4%
Q3 2022+2.4%+6.7%+2.9%
Q2 2022+4.2%+5.7%+3.7%
Q1 2022-1.0%-1.0%+10.2%
Q4 2021-5.2%-4.5%-13.5%
Q3 2021-5.0%-3.6%-3.7%
Q2 2021+0.9%-0.1%+9.8%
Q1 2021+1.6%+2.6%+3.6%
Q4 2020+5.3%+5.5%+15.3%
Q3 2020-0.5%+1.7%+8.1%
Q2 2020-1.0%-1.9%+2.1%
Q1 2020+8.7%+15.4%+10.8%
Q4 2019+1.3%-0.8%-11.9%
Q3 2019+4.2%+6.4%+9.1%
Q2 2019+4.9%+6.8%+0.0%
Q1 2019-2.3%+0.7%+0.2%
Q4 2018+3.3%+1.6%+8.0%
Q3 2018-3.2%-4.5%-1.3%
Q2 2018+1.3%-1.6%+0.5%
Q1 2018+3.2%+0.4%+6.2%
Q4 2017-0.7%-1.5%-1.3%
Q3 2017+3.4%-1.8%-0.7%
Q2 2017-2.2%-3.4%-5.9%
Q1 2017+0.0%-2.7%-12.4%
Q4 2016-1.1%-2.4%-1.6%
Q3 2016+0.3%-0.6%+27.6%
Q2 2016+3.8%+3.4%+7.7%
Q1 2016+1.4%
Q4 2015+4.5%
Q3 2015+0.5%
Q2 2015-2.1%
Q1 2015+3.7%
Q4 2014+0.4%
Q3 2014+5.3%
Q2 2014+1.9%
Q1 2014-1.0%
Q4 2013-0.8%
Q3 2013+1.8%
Q2 2013+4.2%
Q1 2013+1.4%
Q4 2011-1.8%
Q1 2010-1.8%
Q4 2012-1.1%
Q3 2012-3.3%
Q2 2012+1.0%
Q1 2011-1.6%
Q1 2012+1.6%
Q4 2009-1.0%
Q3 2011-0.6%
Q3 2010-0.6%
Q4 2010-8.6%
Q2 2010-8.6%
Q2 2011-8.6%

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