SB Financial Group Inc (SBFG)
NASDAQ:SBFG
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SB Financial Group
(NASDAQ:SBFG)
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Rating:74Outperform
Price Target:
$25.00
▲(17.87% Upside)
Action:Upgraded
Date:05/10/26
The score is driven primarily by solid financial performance (improving profitability and healthier leverage, tempered by volatile cash flow) and attractive valuation (low P/E plus a ~2.7% yield). Technicals add moderate support with an uptrend and neutral momentum, while the earnings call was positive overall but flagged near-term growth and funding/capital deployment constraints.
Positive Factors
Improving profitability and consistent earnings
Sustained profitability—61 consecutive profitable quarters—combined with rising margins (TTM net margin ~17.2%) and stronger ROE (~11.6%) provides durable earnings resilience. This steady earnings base supports reinvestment, dividend policy, and strategic execution through business cycles.
Negative Factors
Volatile cash generation
Significant free-cash-flow volatility weakens capacity to consistently fund buybacks, acquisitions, or absorb shocks. Irregular cash conversion complicates capital planning and raises reliance on capital management decisions to sustain dividends and targeted balance-sheet growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability and consistent earnings
Sustained profitability—61 consecutive profitable quarters—combined with rising margins (TTM net margin ~17.2%) and stronger ROE (~11.6%) provides durable earnings resilience. This steady earnings base supports reinvestment, dividend policy, and strategic execution through business cycles.
Read all positive factors
SB Financial Group (SBFG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$135.54M
Dividend Yield2.69%
Average Volume (3M)14.14K
Price to Earnings (P/E)8.3
Beta (1Y)0.27
Revenue Growth12.40%
EPS Growth50.07%
CountryUS
Employees262
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.56
Shares Outstanding6,275,117
10 Day Avg. Volume18,367
30 Day Avg. Volume14,141
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)1.00
Price to Sales (P/S)1.56
P/FCF Ratio6.62
Enterprise Value/Market Cap0.47
Enterprise Value/Revenue0.68
Enterprise Value/Gross Profit0.96
Enterprise Value/Ebitda3.02
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.45
Revenue Forecast (FY)N/A
SB Financial Group Business Overview & Revenue Model
Company Description
SB Financial Group, Inc. provides a range of commercial banking and wealth management services to individual and corporate customers primarily in Ohio, Indiana, and Michigan. It offers checking, savings, money market accounts, as well as time cert...
How the Company Makes Money
SBFG makes money primarily through the earnings of its bank subsidiary. The largest revenue driver for community banks like SBFG is typically net interest income, which is the spread between (1) interest income earned on loans and other interest-e...
SB Financial Group Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive tone driven by strong earnings, revenue growth, improved fee income, solid deposit gains, disciplined expense management, favorable credit metrics and successful integration of the Marblehead acquisition. Management acknowledged near-term headwinds including mortgage volume volatility, modest sequential loan growth, potential deposit cost pressure, an elevated OREO position from a foreclosure and capital deployment constraints (sub-debt call and slower buybacks). On balance, the positives—particularly the year-over-year revenue and earnings growth, robust reserve coverage and deposit/loan growth—outweigh the lowlights, though management remains cautious and focused on disciplined execution.Positive Updates
Strong Profitability and Earnings Growth
Net income of $4.3 million and GAAP diluted EPS of $0.69 vs $0.33 in Q1 2025; adjusted EPS $0.63 vs $0.42 in Q1 2025 (adjusted >50% YoY). This marks the 61st consecutive quarter of profitability.
Negative Updates
Mortgage Volume Shortfall and Volatility
Mortgage originations were weaker than management anticipated in the quarter (Q1 $66M vs $72M sequentially, ≈-8.3% QoQ). Pipeline at ~$35M leaves near-term mortgage volume visibility uncertain despite projected sequential improvement in Q2.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Profitability and Earnings Growth
Net income of $4.3 million and GAAP diluted EPS of $0.69 vs $0.33 in Q1 2025; adjusted EPS $0.63 vs $0.42 in Q1 2025 (adjusted >50% YoY). This marks the 61st consecutive quarter of profitability.
Read all positive updates
Company Guidance
Management guided to a sequential pickup in mortgage production—pipeline ~$35M with Q2 volume expected to rise roughly 25% to about $90M (Tony called for “90‑ish” in Q2 and Q3), putting full‑year mortgage production in the roughly $310M–$400M range (Tony ~ $310–$325M; Mark $350–$400M); they also announced a $0.16 quarterly dividend (annualized ~2.8%, ~25% of earnings) and said buybacks will be dialed back in 2026 after repurchasing ~29,000 shares at an average $21.12 in Q1 due to near‑term capital needs (possible June sub‑debt call). Other targets and expectations: loan balances ended Q1 at ~$1.18B (loans/assets 74%), deposits $1.37B (up >$100M YoY, ~8%), loan‑to‑deposit 86% (long‑term target low‑ to mid‑90s), management expects loan growth to normalize to ~$15–$20M per quarter (vs ~$1M in Q1) which should lift NIM a few bps from the Q1 level of 3.49% (NII $12.7M); Q1 operating revenue was $17.4M (+13.2% YoY), efficiency ratio 68.1% (noninterest expense $11.9M), allowance for credit losses 1.39% (coverage >400%), nonperforming assets $4.8M (0.3% of assets), and the firm remains focused on disciplined growth toward a $2.0B balance‑sheet goal.SB Financial Group Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 93.57M | 91.03M | 81.37M | 75.87M | 62.80M | 72.60M |
| Gross Profit | 66.47M | 64.25M | 56.81M | 56.68M | 57.63M | 67.53M |
| EBITDA | 21.21M | 19.45M | 17.41M | 18.28M | 19.33M | 28.94M |
| Net Income | 16.11M | 13.97M | 11.47M | 12.10M | 12.52M | 18.28M |
Balance Sheet | ||||||
| Total Assets | 1.60B | 1.55B | 1.38B | 1.34B | 1.34B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 154.98M | 146.21M | 199.25M | 244.21M | 268.73M | 415.41M |
| Total Debt | 56.68M | 63.97M | 65.28M | 116.63M | 94.52M | 40.37M |
| Total Liabilities | 1.46B | 1.40B | 1.25B | 1.22B | 1.22B | 1.19B |
| Stockholders Equity | 143.66M | 141.24M | 127.51M | 124.34M | 118.43M | 144.93M |
Cash Flow | ||||||
| Free Cash Flow | 12.43M | 21.44M | 8.22M | 13.03M | 23.67M | 14.83M |
| Operating Cash Flow | 14.34M | 24.04M | 9.45M | 13.99M | 25.57M | 17.26M |
| Investing Cash Flow | -75.14M | -68.08M | -28.95M | -17.39M | -165.67M | -71.99M |
| Financing Cash Flow | 81.95M | 89.66M | 22.46M | -1.45M | 18.41M | 63.55M |
SB Financial Group Technical Analysis
Negative
21.21
Price Trends
21.50
Negative
21.27
Positive
20.84
Positive
Market Momentum
0.05
Positive
46.00
Neutral
41.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBFG, the sentiment is Negative. The current price of 21.21 is below the 20-day moving average (MA) of 21.84, below the 50-day MA of 21.50, and above the 200-day MA of 20.84, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 46.00 is Neutral, neither overbought nor oversold. The STOCH value of 41.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SBFG.
SB Financial Group Risk Analysis
SB Financial Group disclosed 35 risk factors in its most recent earnings report. SB Financial Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SB Financial Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $206.79M | 11.56 | 13.14% | 1.96% | 11.54% | 43.03% | |
74 Outperform | $135.54M | 8.27 | 11.60% | 2.69% | 12.40% | 50.07% | |
70 Outperform | $176.75M | 10.97 | 8.29% | 2.93% | 3.88% | 40.69% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $137.91M | 29.85 | 2.44% | 0.88% | 15.21% | 2015.08% | |
59 Neutral | $106.58M | 9.26 | 14.94% | 6.08% | 11.40% | 29.64% | |
52 Neutral | $131.79M | -7.69 | -13.51% | ― | 2.17% | 98.76% |
* Financial Sector Average
SBFG
SB Financial Group
21.38
3.42
19.04%
EBMT
Eagle Bancorp Montana
21.85
5.60
34.48%
FCAP
First Capital
60.52
14.93
32.76%
PNBK
Patriot National Bancorp
1.15
-0.02
-1.71%
UNB
Union Bankshares
23.29
-3.18
-12.01%
SRBK
SR Bancorp, Inc.
18.70
6.31
50.99%
SB Financial Group Corporate Events
Dividends
SB Financial Group Boosts Quarterly Dividend for Shareholders
Positive
Apr 23, 2026
On April 22 and April 23, 2026, SB Financial Group, Inc. announced that its board of directors declared a quarterly cash dividend of $0.16 per common share, payable on May 29, 2026, to shareholders of record as of May 15, 2026. The payout represen...
Executive/Board ChangesShareholder Meetings
SB Financial shareholders approve directors, auditor and pay
Positive
Apr 22, 2026
At its 2026 Annual Meeting of Shareholders held on April 22, 2026, in Defiance, Ohio, SB Financial Group, Inc. reported that 74.21% of its 6,302,455 outstanding common shares were represented in person or by proxy. Shareholders elected Timothy L. ...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
SB Financial Highlights 2025 Results and Growth Strategy
Positive
Apr 22, 2026
At its Annual Meeting of Shareholders on April 22, 2026, SB Financial Group reported 2025 net income of $14.0 million, or $2.19 per share, alongside robust balance sheet expansion that included 13.4% deposit growth and 12.8% loan growth, and key p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.