# Stock Yards Bancorp, Inc. (SYBT)

> Source: Nexqual · https://nexqual.com/SYBT · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Stock Yards Bancorp, Inc. (SYBT), nexqual.com/SYBT" · informational, not investment advice.

**Price:** USD 78.32 (-0.31% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 78.56 · day 77.85–79.24 · 52w 61.51–89.22 · market cap $2.43B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $423M, net income $150M (35.3% margin) (SEC filings).
- Valuation: P/E 16.3x (avg 15.4x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $686K; 3 not under a Rule 10b5-1 plan ($686K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.00 on a 1–5 scale) (6 analysts), mean target USD 90.2 (range 87–94).
- Total return with dividends: 1Y +17.4% vs S&P 500 +13.4%; 5Y +41.4% vs S&P 500 +76.9%.
- Next earnings: 2026-10-28, EPS estimate USD 1.35, revenue estimate $119M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $237M | $323M | $340M | $352M | $397M | $423M |
| Net income | $74.6M | $93.3M | $108M | $115M | $140M | $150M |
| EPS (diluted) | $2.97 | $3.21 | $3.67 | $3.89 | $4.75 | — |
| Free cash flow | $97.5M | $90.3M | $99.0M | $133M | $154M | $147M |
| Net margin | 31.5% | 28.9% | 31.7% | 32.5% | 35.3% | 35.3% |
| Revenue growth | +26.1% | +36.1% | +5.3% | +3.7% | +12.8% | — |
| Total debt | — | $26.3M | $26.7M | $26.8M | $26.8M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 16.3x · P/S 5.8x · P/FCF 16.5x · P/B 1.9x · FCF yield 6.06% · Earnings yield 6.14% · Dividend yield (paid, TTM) 1.57% · Buyback yield (TTM) 0.07%
P/E at fiscal year-ends: Dec 2025 13.7x, Dec 2024 18.4x, Dec 2023 14.0x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-21 | Woods Michael W | Sr. Vice President | 139 | $11K | 13.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-30 | Wells Laura L | Director | 6,823 | $589K | 41.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-21 | Poindexter Philip | President | 1,221 | $86K | 1.7% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 6 analysts; mean target USD 90.2 (low 87, high 94).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-31 | Keefe, Bruyette & Woods | Target raised | Market Perform | $82 → $94 |
| 2026-07-30 | Stephens & Co. | Target raised | Equal-Weight | $75 → $87 |
| 2026-07-30 | Hovde Group | Downgrade | Outperform → Market Perform | $82 → $90 |
| 2026-06-26 | Piper Sandler | Target raised | Neutral | $78 → $81 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +17.4% | +41.4% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +17.5% | +7.2% |
| Volatility (annualized) | 23.3% | 28.9% |
| Max drawdown | -14.3% (Jul 2026→Oct 2026) | -49.6% (Oct 2022→Oct 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 4.07 +3.04% · FITB (Fifth Third Bancorp) USD 52.98 -0.47% · DB (Deutsche Bank AG) USD 31.2 -0.89% · TFC (Truist Financial Corporation) USD 48.44 +0.04% · NWG (NatWest Group plc) USD 16.8 -1.12% · NU (Nu Holdings Ltd.) USD 15.16 +2.92%

## More
Full page: https://nexqual.com/SYBT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Fiduciary & Trust | $12.6M | — | +19.8% |
| Credit & Debit Card | $5.1M | — | +6.3% |
| Treasury Management | $3.2M | — | +5.7% |
| Deposit Account | $2.4M | — | +14.5% |
| Investment Advisory Management & Administrative Service | $1.1M | — | +9.6% |
| Product Sales Commissions & Fees | $1.1M | — | +9.6% |
| Product & Service Other | $753,000 | — | -36.0% |
| Total revenue | — | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "No provision for credit losses on loans (1) was recorded for the second quarter of 2026, compared to $2.2 million for the prior year quarter, due to muted organic loan growth for the quarter, strong credit quality metrics and an improved unemployment forecast during the quarter."
- "Remaining merger-related expenses, primarily related to systems conversion, are expected to be incurred in the third and fourth quarters of 2026."
- "The bulk of such expenses are expected to be recorded over the second half of 2026."
- "The FTE basis assumes a federal corporate income tax rate of 21%."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.35 | $1.30 | +4.2% | $119.3M | 6 |
| Next quarter (ends 2026-12-31) | $1.39 | $1.35 | +3.1% | $121.2M | 6 |
| Current fiscal year (ends 2026-12-31) | $5.33 | $5.11 | +4.4% | $457.8M | 6 |
| Next fiscal year (ends 2027-12-31) | $5.69 | $5.56 | +2.4% | $495.9M | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±7.5%; last 8 reports averaged ±2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 32.5% | ±7.5% |
| 2026-12-18 | 56 | 26.6% | ±12.4% |
| 2027-03-19 | 147 | 25.4% | ±13.0% |
| 2027-06-17 | 237 | 26.5% | ±17.0% |