NasdaqGS:SYBT

Stock Analysis Report

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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. More Details


Snowflake Analysis

Flawless balance sheet established dividend payer.


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

Stable Share Price: SYBT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-9.6%

SYBT

-1.3%

US Banks

0.08%

US Market


1 Year Return

0.9%

SYBT

-26.7%

US Banks

12.8%

US Market

Return vs Industry: SYBT exceeded the US Banks industry which returned -26.7% over the past year.

Return vs Market: SYBT underperformed the US Market which returned 12.8% over the past year.


Shareholder returns

SYBTIndustryMarket
7 Day-9.6%-1.3%0.08%
30 Day-9.5%0.7%-1.8%
90 Day-0.5%-2.5%7.2%
1 Year4.1%0.9%-24.0%-26.7%15.3%12.8%
3 Year13.7%4.4%-15.5%-22.4%39.2%29.9%
5 Year79.9%57.9%21.0%6.1%88.3%67.1%

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 compared to its fair value and its price relative to the market?

5.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SYBT ($37.9) is trading below our estimate of fair value ($39.98)

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


Price To Earnings Ratio

PE vs Industry: SYBT is poor value based on its PE Ratio (14.1x) compared to the US Banks industry average (9.7x).

PE vs Market: SYBT is good value based on its PE Ratio (14.1x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SYBT is overvalued based on its PB Ratio (2x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Stock Yards Bancorp forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-11.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SYBT's earnings are forecast to decline over the next 3 years (-11% per year).

Earnings vs Market: SYBT's earnings are forecast to decline over the next 3 years (-11% per year).

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

Revenue vs Market: SYBT's revenue (0.4% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: SYBT's revenue (0.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SYBT's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

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

13.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SYBT has high quality earnings.

Growing Profit Margin: SYBT's current net profit margins (35.8%) are lower than last year (37.5%).


Past Earnings Growth Analysis

Earnings Trend: SYBT's earnings have grown by 13% 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 (-0.4%) over the past year, making it difficult to compare to the Banks industry average (-3.1%).


Return on Equity

High ROE: SYBT's Return on Equity (14.4%) is considered low.


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


Financial Institutions Analysis

Asset Level: SYBT's Assets to Equity ratio (10.3x) is moderate.

Allowance for Bad Loans: SYBT has a sufficient allowance for bad loans (332%).

Low Risk Liabilities: 95% 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 (79%).

Low Risk Deposits: SYBT's Loans to Deposits ratio (92%) is appropriate.

Level of Bad Loans: SYBT has an appropriate level of bad loans (0.4%).


Next Steps

Dividend

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

2.85%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SYBT's dividend (2.85%) is higher than the bottom 25% of dividend payers in the US market (1.66%).

High Dividend: SYBT's dividend (2.85%) is low compared to the top 25% of dividend payers in the US market (4.7%).


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

Dividend Coverage: With its reasonably low payout ratio (39.9%), SYBT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SYBT's dividends in 3 years are forecast to be covered by earnings (51% payout ratio).


Next Steps

  • Explore strong dividend paying companies in the Banks industry.

Management

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

6.3yrs

Average management tenure


CEO

Ja Hillebrand (52 yo)

1.92yrs

Tenure

US$1,493,134

Compensation

Mr. James A. Hillebrand, also known as Ja, has been the Chief Executive Officer of Stock Yards Bancorp, Inc. and its subsidiary, Stock Yards Bank & Trust Company since October 1, 2018. Mr. Hillebrand serve ...


CEO Compensation Analysis

Compensation vs Market: Ja's total compensation ($USD1.49M) is below average for companies of similar size in the US market ($USD2.96M).

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

NamePositionTenureCompensationOwnership
James Hillebrand
CEO & Director1.92yrsUS$1.49m0.47%
$ 4.0m
Philip Poindexter
President1.92yrsUS$942.90k0.20%
$ 1.7m
T. Stinnett
Executive VP1.33yrsUS$854.11k0.22%
$ 1.9m
Kathy Thompson
Senior EVP & Director26.67yrsUS$867.15k0.28%
$ 2.4m
William Dishman
Executive VP & Chief Risk Officer of Stock Yards Bank & Trust Company11.58yrsUS$610.07k0.14%
$ 1.2m
Michael Newton
SVP & Principal Accounting Officer1.83yrsno data0.0082%
$ 70.8k
Stephen Brown
Market President of Cincinnati/NKY13.25yrsno datano data
Michael Croce
Executive VP & Director of Retail Banking of Stock Yards Bank & Trust Company6.25yrsno data0.099%
$ 851.8k
Paula Moan
Market President of Indianapolisno datano datano data
Phillip Smith
Executive VP24.67yrsUS$240.57kno data
Michael Rehm
Executive VP and Chief Lending Officer of Stock Yards Bank & Trust Companyno datano data0.048%
$ 414.0k

6.3yrs

Average Tenure

54.5yo

Average Age

Experienced Management: SYBT's management team is seasoned and experienced (6.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
James Hillebrand
CEO & Director1.92yrsUS$1.49m0.47%
$ 4.0m
Kathy Thompson
Senior EVP & Director26.67yrsUS$867.15k0.28%
$ 2.4m
Richard Lechleiter
Independent Director13.33yrsUS$82.21k0.018%
$ 155.0k
David Heintzman
Chairman of the Board15.67yrsUS$272.93k0.78%
$ 6.7m
Norman Tasman
Independent Director25.67yrsUS$83.53k1.06%
$ 9.1m
Carl Herde
Independent Director15.67yrsUS$82.53k0.13%
$ 1.1m
Donna Heitzman
Independent Director3.92yrsUS$73.73k0.013%
$ 109.9k
J. Brown
Independent Director5.17yrsUS$69.13k0.038%
$ 331.0k
John Schutte
Independent Director2.17yrsUS$74.73k0.35%
$ 3.0m
Stephen Priebe
Lead Independent Director1.67yrsUS$83.23k0.012%
$ 104.3k
Paul Bickel
Independent Director2.75yrsUS$70.41k0.089%
$ 767.7k

12.2yrs

Average Tenure

61yo

Average Age

Experienced Board: SYBT's board of directors are seasoned and experienced ( 12.2 years average tenure).


Ownership

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


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Stock Yards Bancorp, Inc.'s company bio, 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
  • Market Cap: US$859.642m
  • Shares outstanding: 22.68m
  • Website: https://www.syb.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SYBTNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1990
S4YDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1990

Biography

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. Its deposi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/21 05:33
End of Day Share Price2020/09/18 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.