NASDAQ$SYBT

Stock Yards Bancorp Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported earnings of $28.5 million, or $0.97 per diluted share, driven by strong organic loan growth and net interest margin expansion.

Stock Yards Bancorp reported a record third quarter with net income of $28.5 million, or $0.97 per diluted share, compared to $23.2 million, or $0.87 per diluted share, for the third quarter of 2021. The results were driven by organic loan growth and expanded net interest margin. The company is progressing with the integration of Commonwealth Bancshares.

  • Net income for the third quarter of 2022 was $28.5 million, or $0.97 per diluted share.
  • Net interest income increased 37% to $62.4 million due to higher interest income on non-PPP loans.
  • Non-interest income increased 41% to $24.9 million, with recent acquisitions contributing significantly.
  • Total loans increased $884 million year over year, or 21%, to $5.07 billion.

Headline financials

Total Revenue

$87.2M

Previous: $63.1M+38.3%
EPS (adj)

$0.89

Previous: $0.88+1.1%
Net Interest Margin

3.5%

Previous: 3.3%+6.1%
Efficiency Ratio

51.4%

Previous: 54.8%-6.2%
NPL / Loans

0.2%

No prior period
Capital Expenditures

-$15.3M

Previous: -$3.24M-371.6%
Free Cash Flow

$13.2M

Previous: $19.9M-33.5%
Net Income

$28.5M

Previous: $23.2M+23.2%
Operating Income

$46.3M

Previous: $36.1M+28.3%
Gross Profit

$82.3M

Previous: $62.9M+30.9%
Cash & Equivalents

$93.9M

Previous: $84.5M+11.2%
Total Assets

$7.55B

Previous: $6.18B+22.2%
Stock-Based Comp

$1.24M

Previous: $1.17M+6.2%

Revenue & EPS history

Stock Yards Bancorp · Revenue · Quarterly

$87.2M

Q3 2022+38.3%vs Q3 2021
Beat estimate in 11 of 14 quarters(79%)
ActualEstimate

Revenue by segment

Stock Yards Bancorp · $12.6M total across 8 segments · Q2 2020

  • Wealth Mgmt & Trust
    $5.73M
  • Card Income
    $2.06M
  • Mortgage Banking
    $1.62M
  • Treasury Fees
    $1.25M
  • Deposit Charges
    $800K
  • Other Income
    $595K
  • Investment Commissions
    $391K
  • BOLI Income
    $176K

Forward guidance

This report contains forward-looking statements under the Private Securities Litigation Reform Act that involve risks and uncertainties.

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 Q3 2022

Historical avgQ3 2022

+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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