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what it is
Stock Yards lends money, gathers deposits, sells mortgages, and manages wealth across 72 banking locations.
how it gets paid
Last year Stock Yards Bancorp made $468M in revenue. commercial banking was the main engine at $187M, or 40% of sales.
why it's growing
Revenue grew 13.3% last year. That is a giant jump against annual revenue of $468 million.
what just happened
Revenue hit $346M, up 188% vs. prior year, while EPS jumped to $3.51.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
80/100 earnings predictability — you can trust these numbers
15.0x trailing p/e — the market's not buying it — or you found a deal
2.0% dividend yield — cash in your pocket every quarter
$3.89 fy2024 eps est
xvary composite: 54/100 — below average
What they do
Stock Yards lends money, gathers deposits, sells mortgages, and manages wealth across 72 banking locations.
This bank wins the old-fashioned way: local relationships, sticky customers, and a balance sheet rated B++. You are not just picking a rate on an app. You are picking who handles your business loans, deposits, trust accounts, and retirement plans in one place. That matters more when 40 of its 72 locations sit in its Louisville home market.
How they make money
$468M
annual revenue · their business grew +13.3% last year
commercial banking
$187M
personal banking
$117M
investment management
$70M
trust services
$47M
mortgage and brokerage
$47M
The products that matter
core lending and deposit franchise
Commercial and personal banking
$347M net interest income · 74.1% of revenue
This is the engine. It produced $347M last year, up 19.8%, and it tells you the stock is still mostly a spread-income story.
core driver
fee-based client services
Wealth management and trust
$121M non-interest income · 25.9% of revenue
Fee income gives the bank a second revenue stream, but it slipped 1.6%. That matters because banks with stronger fee income usually depend less on rate cycles.
stabilizer
balance-sheet expansion via M&A
Field & Main acquisition
$468M all-stock deal
This is not a product. It is the bet. At roughly one-quarter of SYBT's ~$2B market cap, it is large enough to change the earnings path — or the risk profile.
the key test
Key numbers
15.0x
trailing p/e
You are paying 15 times trailing earnings for a bank that grew annual revenue 13.3%. Cheap is not the same as broken.
$327M
long-term debt
That is 15% of capital. Plain English: leverage exists, but it is not dominating the balance sheet.
$9.31B
total assets
This is the scale check. A roughly $2 billion market cap bank controls $9.31 billion in assets.
2.0%
dividend yield
You get paid while you wait, even if the payout is more practical than thrilling.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 4 — safer than 20% of stocks
- price stability 65 / 100
- long-term debt $327M (15% of capital)
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SYBT right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $346M, up 188% vs. prior year, while EPS jumped to $3.51.
That is a giant jump against annual revenue of $468 million, which tells you recent results were shaped by unusual growth drivers, likely including deal activity and balance-sheet expansion. Deadpan fact bomb: the latest quarter produced about 74% of the prior full year's revenue.
$346M
revenue
$3.51
eps
188%
revenue growth
the number that mattered
188% revenue growth is the number to watch because it is too large to treat as normal banking drift.
source: company earnings report, 2026
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What could go wrong
the top risk is Field & Main integration on a $468M all-stock deal.
high
Field & Main integration
A $468M all-stock deal is large for a bank with a ~$2B market cap. If management misses on cost saves, customer retention, or credit quality, you absorb dilution without getting the earnings lift.
deal value equals roughly one-quarter of current market cap
high
rate and funding sensitivity
Net interest income makes up 74.1% of revenue. That means lower loan yields, higher deposit costs, or weaker loan demand hit the core business quickly.
puts pressure on the $347M revenue line that matters most
med
fee income is not carrying its weight
Non-interest income was $121M and slipped 1.6%. If the fee side stays flat or falls again, the bank becomes even more tied to rates and lending spreads.
25.9% of revenue is supposed to diversify the story
med
ordinary bank economics
There is no moat here. This is a local-relationship bank in a competitive market, which means pricing power is limited and growth usually has to be earned the hard way.
15.0x earnings can look full if growth slips back to average
Between the $468M merger, the $347M dependence on spread income, and the $121M fee business slipping, the risk picture is concentrated rather than diversified.
source: institutional data · regulatory filings · risk analysis
Pay attention to
deal risk
Field & Main integration updates
This is the whole near-term story. You want evidence that the $468M all-stock deal is adding earnings power, not just adding complexity.
core metric
net interest income trend
$347M of annual net interest income paid the bills last year. If that growth cools sharply, the market will care more than it cares about almost anything else.
diversification
non-interest income recovery
Fee revenue fell 1.6% to $121M. A rebound would make the earnings mix healthier. Another decline would make the bank look even more rate-dependent.
calendar
next earnings and shareholder dates
The annual meeting is scheduled for April 23, 2026. The next earnings report is expected on or around April 29, 2026. Those are the next chances for management to explain the deal and the spread outlook.
Analyst rankings
earnings predictability
80 / 100
The bank has produced fairly consistent earnings. In human-speak, analysts think the numbers are dependable even if the upside is not dramatic.
risk profile
4 / 5
That lands on the riskier side of the scale. You are not buying a sleepy utility here — you are buying a bank with a live integration test.
source: institutional data
Institutional activity
institutional ownership data for SYBT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$69
current price
n/a
target midpoint · n/a from current
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