Stock Yards Bancorp (SYBT) AI Stock Analysis

• Market Cap: $1.91B
• Dividend Yield: 1.88%
• Average Volume (3M): 165.40K
• Price to Earnings (P/E): 13.5
• Beta (1Y): 1.01
• Revenue Growth: 11.74%
• EPS Growth: 26.27%
• Country: US
• Employees: 1,089
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 1.24
• Shares Outstanding: 29,478,930
• 10 Day Avg. Volume: 172,029
• 30 Day Avg. Volume: 165,399
• PEG Ratio: 0.62
• Price to Book (P/B): 1.90
• Price to Sales (P/S): 3.38
• P/FCF Ratio: 49.29
• Enterprise Value/Market Cap: 0.55
• Enterprise Value/Revenue: 1.87
• Enterprise Value/Gross Profit: 2.70
• Enterprise Value/Ebitda: 5.74
• 1Y Price Target: $76.00
• Price Target Upside: 17.68% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 4.74
• Revenue Forecast (FY): $441.76M

• Rating: 66 Neutral
• Price Target: $72.00 ▲(11.49% Upside)
• Action: Downgraded Date: 02/27/26
• Date: Action: Downgraded 02/27/26

The score is driven primarily by solid underlying financial performance (steady growth/profitability and improved capitalization) tempered by a sharp 2025 cash flow deterioration and currently weak technical momentum. Reasonable valuation and a positive, potentially EPS-accretive merger provide additional support.

Positive Factors

Revenue Growth & Profitability

Consistent revenue expansion and solid profitability indicate durable core banking performance driven by loans, mortgages and fee businesses. These trends support stable earnings, internal capital generation and the ability to fund organic growth, targeted investments or shareholder distributions over the medium term.

Improved Capitalization

A materially stronger capital and leverage position, combined with improving ROE and building equity, creates a conservative buffer. That enhances regulatory flexibility, reduces funding stress, and provides capacity for lending growth, weathering cycles and supporting M&A or dividends over the next several months.

Strategic, EPS-accretive M&A

The Field & Main merger is a structural footprint expansion creating scale (~$10.4bn assets) and deposit/loan diversification. Projected EPS accretion with minimal tangible book dilution and planned management continuity can drive lasting revenue synergies, cost efficiencies and stronger regional market position.

Negative Factors

Cash Flow Volatility

A sharp decline in operating and free cash flow in 2025 introduces material volatility into internal cash generation. For a bank, inconsistent cash flow can constrain liquidity management, capital deployment and stress-test outcomes, making funding, dividend and strategic planning less predictable in the near term.

Margin Normalization

Normalization of margins versus prior cyclical highs implies that past peak profitability may not be sustainable without loan mix improvement or higher yields. If net interest margin and fee income growth remain constrained, the bank will need volume gains or efficiency improvements to drive long-term EPS growth.

Funding Mix / Debt Swings

Significant year-to-year swings in debt levels suggest balance-sheet repositioning and potential funding mix instability. For regional banks, stable funding sources matter; such variability complicates interest expense forecasting, liquidity planning and could raise regulatory or market scrutiny during integration or stress periods.

Stock Yards Bancorp Business Overview & Revenue Model

Company Description

Stock Yards Bancorp, Inc. operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T. The Commercial Banking segment offers mortgage banking and deposit services; retail, commercial, and commercial real estate lending services; and online banking, mobile banking, private banking, leasing, treasury management, merchant, international banking, correspondent banking, and other banking services. This segment also provides securities brokerage services through an arrangement with a third party broker-dealer. The WM&T segment provides investment management, financial and retirement planning, and trust and estate services, as well as retirement plan management for businesses and corporations. The company operates through 73 full service banking center locations in Louisville, central, eastern and northern Kentucky, as well as Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets. Stock Yards Bancorp, Inc. was founded in 1904 and is headquartered in Louisville, Kentucky.

How the Company Makes Money

Stock Yards Bancorp generates revenue through several key streams, primarily from interest income earned on loans and investments. The company primarily provides commercial and residential loans, including mortgages, consumer loans, and business loans, which contribute significantly to its interest income. Additionally, SYBT earns non-interest income from various services, including wealth management, trust services, fees from credit and debit card transactions, and other banking fees. The bank also benefits from its strong focus on personalized customer service, which helps cultivate customer loyalty and drive repeat business. Partnerships with local businesses and community organizations further enhance its market presence, leading to increased customer acquisition and retention.

Stock Yards Bancorp Financial Statement Overview

Summary

Fundamentals are solid overall: steady revenue expansion and healthy profitability, plus a more conservative 2025 balance sheet with improved ROE. The key drag is cash flow volatility—2025 operating and free cash flow fell sharply versus 2024—raising questions about near-term cash generation stability despite strong earnings.

Income Statement

Revenue has expanded steadily from 2020 to 2025, with 2025 showing mid-single-digit growth and prior years posting stronger increases. Profitability is solid for a regional bank, with a healthy net profit margin and stable operating profitability (EBIT margin) in recent years. The main weakness is some margin normalization versus earlier years (notably 2021–2022), suggesting earnings power may be less “peak” than it was during the strongest part of the cycle.

Balance Sheet

Leverage improved markedly in 2025, with debt falling sharply and debt-to-equity dropping to a very low level, while equity has continued to build. Returns on equity are healthy and improved in 2025 versus 2024. The key watch-out is the large year-to-year swing in debt levels (2024 to 2025), which can indicate balance-sheet repositioning; while the current positioning looks conservative, consistency and funding mix stability matter for banks.

Cash Flow

Cash generation weakened materially in 2025: operating cash flow and free cash flow fell sharply versus 2024, with free cash flow growth deeply negative. While free cash flow still covered net income in 2025 (and was generally close to net income in prior years), the magnitude of the 2025 drop raises questions about sustainability and volatility of cash generation from period to period.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	564.54M	500.95M	432.46M	330.55M	238.51M
Gross Profit	390.56M	335.38M	319.31M	302.02M	233.26M
EBITDA	178.20M	157.72M	159.87M	141.14M	106.73M
Net Income	140.15M	114.54M	107.75M	92.97M	74.64M
Balance Sheet
Total Assets	9.54B	8.86B	8.17B	7.50B	6.65B
Cash, Cash Equivalents and Short-Term Investments	886.38M	1.07B	1.13B	1.23B	1.24B
Total Debt	26.81M	496.30M	392.58M	218.47M	85.84M
Total Liabilities	8.52B	7.92B	7.31B	6.74B	5.97B
Stockholders Equity	1.00B	940.48M	858.10M	760.43M	675.87M
Cash Flow
Free Cash Flow	38.69M	133.02M	98.97M	90.30M	97.52M
Operating Cash Flow	38.69M	142.87M	106.70M	108.74M	102.10M
Investing Cash Flow	-106.50M	-677.06M	-424.05M	-384.43M	-78.87M
Financing Cash Flow	-39.20M	559.25M	415.94M	-518.14M	620.02M

Stock Yards Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 64.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SYBT, the sentiment is Negative. The current price of 64.58 is below the 20-day moving average (MA) of 68.20, below the 50-day MA of 67.75, and below the 200-day MA of 71.44, indicating a bearish trend. The MACD of -0.75 indicates Positive momentum. The RSI at 37.93 is Neutral, neither overbought nor oversold. The STOCH value of 16.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SYBT.

Stock Yards Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FBNC	75 Outperform	$2.41B	21.20	6.39%	1.69%	-5.72%	-3.86%
EFSC	68 Neutral	$2.12B	10.76	10.25%	2.20%	6.59%	9.36%
NBTB	68 Neutral	$2.23B	12.84	8.87%	3.33%	11.63%	5.58%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BANR	67 Neutral	$2.06B	10.44	10.28%	2.97%	6.98%	15.08%
CUBI	67 Neutral	$2.36B	11.14	11.34%	―	-0.37%	-20.30%
SYBT	66 Neutral	$1.91B	13.50	13.69%	1.88%	11.74%	26.27%

Stock Yards Bancorp Corporate Events

Stock Yards Bancorp announces all-stock Field & Main merger

On January 27, 2026, Stock Yards Bancorp entered into a definitive all-stock merger agreement to acquire Field & Main Bancorp, in a transaction valued at about $105.7 million that will see Field & Main shareholders receive 0.6550 shares of Stock Yards common stock for each Field & Main share. The deal, expected to close in the second quarter of 2026 subject to shareholder and regulatory approvals, will ultimately combine Field & Main Bank into Stock Yards Bank & Trust Company, expand Stock Yards’ footprint into the attractive Western Kentucky corridor and Evansville, Indiana, and create a franchise with roughly $10.4 billion in assets, $7.9 billion in gross loans, $8.6 billion in deposits and $8.4 billion in trust assets; management projects the transaction to be 5.7% accretive to earnings per share with minimal tangible book value dilution and expects Field & Main CEO Scott P. Davis to join the Stock Yards boards, signaling both strategic scale and continuity for customers and employees in the affected markets.

The most recent analyst rating on (SYBT) stock is a Hold with a $75.00 price target. To see the full list of analyst forecasts on Stock Yards Bancorp stock, see the SYBT Stock Forecast page.