SYBTStock Yards Bancorp, Inc.
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.4B
- Employees
- 1,123
- Net debt / EBITDA
- —
- −$228M net debt
- AI in 10-K
- 1.2
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo118% of net incomeCash flow under 80% of net income
- Dilutive SBCYes19% of revenueOver 10% of revenue
- Payouts exceed cash flowNo24% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$21K · 20th pctBottom quartile of its SIC industry
- Quiet on AINo1.2 per 10K words · 37th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.4B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$553K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | — | — | $108M | $115M | $140M | 22% |
| Operating cash flow | $102M | $109M | $107M | $143M | $166M | 16% |
| Capex | $5M | $18M | $8M | $10M | $12M | 22% |
| Stock-based comp | $5M | $4M | $4M | $4M | $4M | 17% |
| Buybacks | $4M | $5M | $3M | $4M | $2M | 50% |
| Dividends | $28M | $33M | $35M | $36M | $37M | 3.5% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 22, 2025 | WELLS DARRELL R | SCHEDULE 13D/A | 5.0% | Passive |
| Mar 1, 2023 | WELLS DARRELL R | SC 13D | 5.8% | Passive |
Insider trading
- Open-market buys, 12 mo
- $133K · 1
- Open-market sells, 12 mo
- $686K · 3
- Net
- −$553K
Pay vs performance
No pay-versus-performance disclosure yet.