NasdaqGS:SYBT

Stock Analysis Report

Executive Summary

Stock Yards Bancorp, Inc. operates as the holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in Louisville, Indianapolis, and Cincinnati.

Snowflake

Fundamentals

Flawless balance sheet with proven track record and pays a dividend.


Similar Companies

Share Price & News

How has Stock Yards Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.5%

SYBT

1.4%

US Banks

1.0%

US Market


1 Year Return

4.6%

SYBT

0.2%

US Banks

6.7%

US Market

Return vs Industry: SYBT exceeded the US Banks industry which returned 0.2% over the past year.

Return vs Market: SYBT underperformed the US Market which returned 6.7% over the past year.


Share holder returns

SYBTIndustryMarket
7 Day-0.5%1.4%1.0%
30 Day-6.3%-2.6%-1.8%
90 Day2.5%0.8%-1.8%
1 Year7.7%4.6%3.1%0.2%9.1%6.7%
3 Year16.4%8.0%52.0%41.5%46.1%36.6%
5 Year97.9%74.2%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

How volatile is Stock Yards Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Stock Yards Bancorp undervalued based on future cash flows and its price relative to the stock market?

8%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: SYBT ($35.8) is trading below our estimate of fair value ($38.87)

Significantly Undervalued: SYBT is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: SYBT is poor value based on its PE Ratio (13.4x) compared to the Banks industry average (12.5x).

PE vs Market: SYBT is good value based on its PE Ratio (13.4x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: SYBT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price Based on Value of Assets

PB vs Industry: SYBT is overvalued based on its PB Ratio (2.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

-2.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: SYBT's earnings are forecast to decline over the next 3 years (-2.1% per year).

Earnings vs Market: SYBT's earnings are forecast to decline over the next 3 years (-2.1% per year).

High Growth Earnings: SYBT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SYBT's revenue (5.2% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: SYBT's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

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


Next Steps

Past Performance

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

10.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SYBT's earnings have grown by 10.8% per year over the past 5 years.

Accelerating Growth: SYBT's earnings growth over the past year (39.2%) exceeds its 5-year average (10.8% per year).

Earnings vs Industry: SYBT earnings growth over the past year (39.2%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: SYBT's Return on Equity (15.6%) is considered low.


Return on Assets

ROA vs Industry: SYBT has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate SYBT's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SYBT has a low level of unsold assets or inventory.

Debt Coverage by Assets: SYBT's debt is not covered by short term assets (assets are 0.9x debt).


Financial Institutions Analysis

Asset Level: SYBT's level of assets compared to its equity is low.

Allowance for Bad Loans: SYBT has a sufficient allowance for bad loans.

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

Loan Level: SYBT has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SYBT's loans are broadly funded by customer deposits.

Level of Bad Loans: SYBT has an appropriate level of bad loans (0.14%)


Next Steps

Dividend

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

2.99%

Expected Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.5%markettop25%3.8%industryaverage2.5%forecastin3Years3.0%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: SYBT's dividend (2.91%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: SYBT's dividend (2.91%) is low compared to the top 25% of dividend payers in the US market (3.77%).

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

Dividend Coverage: With its reasonably low payout ratio (37.7%), 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 and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Stock Yards Bancorp's salary, the management and board of directors tenure and is there insider trading?

8.0yrs

Average management tenure


CEO

Stock Yards Bancorp has no CEO, or we have no data on them.


Management Age and Tenure

8.0yrs

Average Tenure

54yo

Average Age

Experienced Management: SYBT's management team is seasoned and experienced (8 years average tenure).


Board Age and Tenure

11.8yrs

Average Tenure

60.5yo

Average Age

Experienced Board: SYBT's board of directors are seasoned and experienced ( 11.8 years average tenure).


Insider Trading

Insider Buying: SYBT insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$122,87226 Sep 19
William Dishman
EntityIndividual
Role
Senior Key Executive
Executive VP & Chief Risk Officer of Stock Yards Bank & Trust Company
Shares3,300
Max PriceUS$37.23
BuyUS$5,35023 Sep 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares142.29
Max PriceUS$37.60
BuyUS$2,30023 Sep 19
John Schutte
EntityIndividual
Shares61.17
Max PriceUS$37.60
BuyUS$6,22523 Sep 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares165.56
Max PriceUS$37.60
BuyUS$2,12523 Sep 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares56.52
Max PriceUS$37.60
BuyUS$2,75023 Sep 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares73.14
Max PriceUS$37.60
BuyUS$1,15023 Sep 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares30.59
Max PriceUS$37.60
BuyUS$2,30023 Sep 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares61.17
Max PriceUS$37.60
SellUS$93,63217 Sep 19
Philip Poindexter
EntityIndividual
Role
President
President
Shares2,464
Max PriceUS$38.00
SellUS$36,94713 Sep 19
Michael Croce
EntityIndividual
Role
Senior Key Executive
Executive VP & Director of Retail Banking of Stock Yards Bank & Trust Company
Shares970
Max PriceUS$38.09
SellUS$85,77812 Sep 19
David Heintzman
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares2,278
Max PriceUS$37.66
SellUS$151,70426 Aug 19
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares4,200
Max PriceUS$36.12
BuyUS$4,02522 Aug 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares111.4
Max PriceUS$36.13
BuyUS$3,12522 Aug 19
John Schutte
EntityIndividual
Shares86.49
Max PriceUS$36.13
BuyUS$3,12522 Aug 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares86.49
Max PriceUS$36.13
BuyUS$1,56322 Aug 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares43.25
Max PriceUS$36.13
BuyUS$4,02522 Aug 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares111.4
Max PriceUS$36.13
BuyUS$1,56322 Aug 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares43.25
Max PriceUS$36.13
BuyUS$4,02522 Aug 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares111.4
Max PriceUS$36.13
SellUS$73,24019 Aug 19
David Heintzman
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares2,000
Max PriceUS$36.62
SellUS$100,15616 Aug 19
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares2,800
Max PriceUS$35.77
BuyUS$3,92523 Jul 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares113.08
Max PriceUS$34.71
BuyUS$3,92523 Jul 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares113.08
Max PriceUS$34.71
BuyUS$5,12523 Jul 19
John Schutte
EntityIndividual
Shares147.65
Max PriceUS$34.71
BuyUS$3,92523 Jul 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares113.08
Max PriceUS$34.71
BuyUS$2,56323 Jul 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares73.83
Max PriceUS$34.71
BuyUS$2,36323 Jul 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares68.06
Max PriceUS$34.71
BuyUS$3,92523 Jul 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares113.08
Max PriceUS$34.71
SellUS$203,11627 Jun 19
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares5,800
Max PriceUS$35.31
BuyUS$4,65024 Jun 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares134.51
Max PriceUS$34.57
BuyUS$1,50024 Jun 19
John Schutte
EntityIndividual
Shares43.39
Max PriceUS$34.57
BuyUS$4,62524 Jun 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares133.79
Max PriceUS$34.57
BuyUS$2,12524 Jun 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares61.47
Max PriceUS$34.57
BuyUS$3,20024 Jun 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares92.57
Max PriceUS$34.57
BuyUS$1,15024 Jun 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares33.27
Max PriceUS$34.57
BuyUS$3,20024 Jun 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares92.57
Max PriceUS$34.57
SellUS$90,03721 Jun 19
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares2,609
Max PriceUS$34.51
SellUS$68,69511 Jun 19
William Dishman
EntityIndividual
Role
Senior Key Executive
Executive VP & Chief Risk Officer of Stock Yards Bank & Trust Company
Shares2,000
Max PriceUS$34.35
SellUS$51,06006 Jun 19
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares1,500
Max PriceUS$34.04
BuyUS$3,12524 May 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares89.95
Max PriceUS$34.74
BuyUS$3,12524 May 19
John Schutte
EntityIndividual
Shares89.95
Max PriceUS$34.74
BuyUS$3,12524 May 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares89.95
Max PriceUS$34.74
BuyUS$1,56324 May 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares44.98
Max PriceUS$34.74
BuyUS$3,12524 May 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares89.95
Max PriceUS$34.74
BuyUS$1,56324 May 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares44.98
Max PriceUS$34.74
BuyUS$3,12524 May 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares89.95
Max PriceUS$34.74
SellUS$202,64407 May 19
David Heintzman
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares5,685.86
Max PriceUS$35.64
BuyUS$4,02502 May 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares117.18
Max PriceUS$34.35
BuyUS$1,56302 May 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares45.49
Max PriceUS$34.35
BuyUS$1,70002 May 19
Charles Edinger
EntityIndividual
Shares49.49
Max PriceUS$34.35
BuyUS$4,02502 May 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares117.18
Max PriceUS$34.35
BuyUS$2,16302 May 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares62.96
Max PriceUS$34.35
BuyUS$1,70002 May 19
Richard Northern
EntityIndividual
Shares49.49
Max PriceUS$34.35
BuyUS$3,92502 May 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares114.27
Max PriceUS$34.35
BuyUS$4,32502 May 19
John Schutte
EntityIndividual
Shares125.91
Max PriceUS$34.35
BuyUS$4,02502 May 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares117.18
Max PriceUS$34.35
SellUS$150,01702 May 19
David Heintzman
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares4,322
Max PriceUS$34.71
BuyUS$4,65027 Mar 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares144.77
Max PriceUS$32.12
BuyUS$3,38026 Mar 19
Richard Lechleiter
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares100
Max PriceUS$33.80
BuyUS$1,50025 Mar 19
John Schutte
EntityIndividual
Shares46.7
Max PriceUS$32.12
BuyUS$4,62525 Mar 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares143.99
Max PriceUS$32.12
BuyUS$2,40025 Mar 19
Richard Northern
EntityIndividual
Shares74.72
Max PriceUS$32.12
BuyUS$2,12525 Mar 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares66.16
Max PriceUS$32.12
BuyUS$2,30025 Mar 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares71.61
Max PriceUS$32.12
BuyUS$2,40025 Mar 19
Charles Edinger
EntityIndividual
Shares74.72
Max PriceUS$32.12
BuyUS$1,15025 Mar 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares35.8
Max PriceUS$32.12
BuyUS$3,20025 Mar 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares99.63
Max PriceUS$32.12
BuyUS$5,62527 Feb 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares154.62
Max PriceUS$36.38
BuyUS$5,92527 Feb 19
John Schutte
EntityIndividual
Shares162.86
Max PriceUS$36.38
BuyUS$4,02527 Feb 19
Richard Northern
EntityIndividual
Shares110.64
Max PriceUS$36.38
BuyUS$5,52527 Feb 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares151.87
Max PriceUS$36.38
BuyUS$2,56227 Feb 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares70.44
Max PriceUS$36.38
BuyUS$4,02527 Feb 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares110.64
Max PriceUS$36.38
BuyUS$4,82527 Feb 19
Charles Edinger
EntityIndividual
Shares132.63
Max PriceUS$36.38
BuyUS$1,96227 Feb 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares53.94
Max PriceUS$36.38
BuyUS$1,50027 Feb 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares41.23
Max PriceUS$36.38
SellUS$108,99219 Feb 19
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares3,015
Max PriceUS$36.15
BuyUS$17,37204 Feb 19
Richard Lechleiter
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares500
Max PriceUS$34.74
SellUS$100,01701 Feb 19
David Heintzman
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares2,865
Max PriceUS$34.91
BuyUS$2,16225 Jan 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares63.66
Max PriceUS$33.97
BuyUS$3,92525 Jan 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares115.54
Max PriceUS$33.97
BuyUS$5,12525 Jan 19
John Schutte
EntityIndividual
Shares150.87
Max PriceUS$33.97
BuyUS$3,92525 Jan 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares115.54
Max PriceUS$33.97
BuyUS$3,12525 Jan 19
Richard Northern
EntityIndividual
Shares91.99
Max PriceUS$33.97
BuyUS$3,92525 Jan 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares115.54
Max PriceUS$33.97
BuyUS$3,12525 Jan 19
Charles Edinger
EntityIndividual
Shares91.99
Max PriceUS$33.97
BuyUS$1,96325 Jan 19
J. Brown
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares57.77
Max PriceUS$33.97
BuyUS$3,92525 Jan 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares115.54
Max PriceUS$33.97
BuyUS$69607 Jan 19
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Richard Northern
EntityIndividual
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Richard Lechleiter
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Carl Herde
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Charles Edinger
EntityIndividual
Shares20.41
Max PriceUS$34.10
BuyUS$69607 Jan 19
Paul Bickel
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares20.41
Max PriceUS$34.10
SellUS$48,94531 Dec 18
Kathy Thompson
EntityIndividual
Role
Member of the Board of Directors
Senior EVP & Director
Shares1,500
Max PriceUS$32.63
BuyUS$9,45028 Dec 18
Donna Heitzman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares300
Max PriceUS$31.50
BuyUS$7,05026 Dec 18
Charles Edinger
EntityIndividual
Shares231.07
Max PriceUS$30.51
BuyUS$3,92526 Dec 18
Norman Tasman
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares128.65
Max PriceUS$30.51
BuyUS$3,92526 Dec 18
John Schutte
EntityIndividual
Shares128.65
Max PriceUS$30.51
BuyUS$4,72526 Dec 18
Stephen Priebe
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares154.87
Max PriceUS$30.51
BuyUS$5,80026 Dec 18
Richard Northern
EntityIndividual
Shares190.1
Max PriceUS$30.51
BuyUS$3,33726 Dec 18
Carl Herde
EntityIndividual
Role
Member of the Board of Directors