company background image
SYBT

Stock Yards Bancorp NasdaqGS:SYBT Stock Report

Last Price

US$59.48

Market Cap

US$1.7b

7D

-0.2%

1Y

17.5%

Updated

27 Jun, 2022

Data

Company Financials +
SYBT fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance1/6
Financial Health6/6
Dividends4/6

SYBT Stock Overview

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.

Stock Yards Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Stock Yards Bancorp
Historical stock prices
Current Share PriceUS$59.48
52 Week HighUS$67.40
52 Week LowUS$45.92
Beta0.71
1 Month Change1.05%
3 Month Change10.60%
1 Year Change17.50%
3 Year Change64.04%
5 Year Change48.70%
Change since IPO4,117.82%

Recent News & Updates

Shareholder Returns

SYBTUS BanksUS Market
7D-0.2%3.7%6.6%
1Y17.5%-17.7%-18.4%

Return vs Industry: SYBT exceeded the US Banks industry which returned -17.7% over the past year.

Return vs Market: SYBT exceeded the US Market which returned -18.4% over the past year.

Price Volatility

Is SYBT's price volatile compared to industry and market?
SYBT volatility
SYBT Average Weekly Movement3.8%
Banks Industry Average Movement3.8%
Market Average Movement8.1%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.2%

Stable Share Price: SYBT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: SYBT's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1904997Ja Hillebrandhttps://www.syb.com

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.

Stock Yards Bancorp Fundamentals Summary

How do Stock Yards Bancorp's earnings and revenue compare to its market cap?
SYBT fundamental statistics
Market CapUS$1.74b
Earnings (TTM)US$59.88m
Revenue (TTM)US$249.27m

29.0x

P/E Ratio

2.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SYBT income statement (TTM)
RevenueUS$249.27m
Cost of RevenueUS$0
Gross ProfitUS$249.27m
Other ExpensesUS$189.39m
EarningsUS$59.88m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.05
Gross Margin100.00%
Net Profit Margin24.02%
Debt/Equity Ratio23.9%

How did SYBT perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

48%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is SYBT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SYBT?

Other financial metrics that can be useful for relative valuation.

SYBT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.9x

Price to Earnings Ratio vs Peers

How does SYBT's PE Ratio compare to its peers?

SYBT PE Ratio vs Peers
The above table shows the PE ratio for SYBT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.7x
NWBI Northwest Bancshares
11.5x2.1%US$1.6b
VBTX Veritex Holdings
11.6x20.9%US$1.6b
HTLF Heartland Financial USA
8.9x11.2%US$1.8b
EFSC Enterprise Financial Services
10.6x8.0%US$1.6b
SYBT Stock Yards Bancorp
29x32.4%US$1.7b

Price-To-Earnings vs Peers: SYBT is expensive based on its Price-To-Earnings Ratio (29x) compared to the peer average (10.7x).


Price to Earnings Ratio vs Industry

How does SYBT's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: SYBT is expensive based on its Price-To-Earnings Ratio (29x) compared to the US Banks industry average (9.6x)


Price to Earnings Ratio vs Fair Ratio

What is SYBT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SYBT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: SYBT is expensive based on its Price-To-Earnings Ratio (29x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).


Share Price vs Fair Value

What is the Fair Price of SYBT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SYBT ($59.48) is trading below our estimate of fair value ($92.88)

Significantly Below Fair Value: SYBT is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: SYBT is good value based on its PEG Ratio (0.9x)


Discover undervalued companies

Future Growth

How is Stock Yards Bancorp forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


32.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SYBT's forecast earnings growth (32.4% per year) is above the savings rate (1.9%).

Earnings vs Market: SYBT's earnings (32.4% per year) are forecast to grow faster than the US market (13.9% per year).

High Growth Earnings: SYBT's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SYBT's revenue (13.8% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: SYBT's revenue (13.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SYBT's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Stock Yards Bancorp performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SYBT has a large one-off loss of $38.7M impacting its March 31 2022 financial results.

Growing Profit Margin: SYBT's current net profit margins (24%) are lower than last year (37.9%).


Past Earnings Growth Analysis

Earnings Trend: SYBT's earnings have grown by 10.5% per year over the past 5 years.

Accelerating Growth: SYBT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SYBT had negative earnings growth (-12.4%) over the past year, making it difficult to compare to the Banks industry average (20.7%).


Return on Equity

High ROE: SYBT's Return on Equity (7.9%) is considered low.


Discover strong past performing companies

Financial Health

How is Stock Yards Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SYBT's Assets to Equity ratio (10.2x) is moderate.

Allowance for Bad Loans: SYBT has a sufficient allowance for bad loans (524%).

Low Risk Liabilities: 96% of SYBT's liabilities are made up of primarily low risk sources of funding.

Loan Level: SYBT has an appropriate level of Loans to Assets ratio (61%).

Low Risk Deposits: SYBT's Loans to Deposits ratio (71%) is appropriate.

Level of Bad Loans: SYBT has an appropriate level of bad loans (0.3%).


Discover healthy companies

Dividend

What is Stock Yards Bancorp current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.88%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SYBT's dividend (1.88%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: SYBT's dividend (1.88%) is low compared to the top 25% of dividend payers in the US market (4.23%).


Stability and Growth of Payments

Stable Dividend: SYBT's dividends per share have been stable in the past 10 years.

Growing Dividend: SYBT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (48.3%), SYBT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Ja Hillebrand (53 yo)

3.67yrs

Tenure

US$1,548,814

Compensation

Mr. James A. Hillebrand, also known as Ja, has been Chairman of Stock Yards Bancorp, Inc. and Stock Yards Bank & Trust Company since January 1, 2021. Mr. Hillebrand has been Chief Executive Officer of Stoc...


CEO Compensation Analysis

Compensation vs Market: Ja's total compensation ($USD1.55M) is below average for companies of similar size in the US market ($USD5.46M).

Compensation vs Earnings: Ja's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: SYBT's management team is seasoned and experienced (5.8 years average tenure).


Board Members

Experienced Board: SYBT's board of directors are considered experienced (8.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SYBT insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.9%.


Top Shareholders

Company Information

Stock Yards Bancorp, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Stock Yards Bancorp, Inc.
  • Ticker: SYBT
  • Exchange: NasdaqGS
  • Founded: 1904
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$1.738b
  • Shares outstanding: 29.22m
  • Website: https://www.syb.com

Number of Employees


Location

  • Stock Yards Bancorp, Inc.
  • 1040 East Main Street
  • Louisville
  • Kentucky
  • 40206
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.