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Stock Yards Bank (NASDAQ:SYBT) Beats Q2 Sales Targets

By: StockStory

July 23, 2025 at 15:56 PM EDT

SYBT Cover Image

Regional banking company Stock Yards Bancorp (NASDAQ: SYBT) reported Q2 CY2025 results beating Wall Street’s revenue expectations, with sales up 14.2% year on year to $97.82 million. Its GAAP profit of $1.15 per share was 9.2% above analysts’ consensus estimates.

Is now the time to buy Stock Yards Bank? Find out by accessing our full research report, it’s free.

Stock Yards Bank (SYBT) Q2 CY2025 Highlights:

Net Interest Income: $73.47 million vs analyst estimates of $71.6 million (18.5% year-on-year growth, 2.6% beat)
Net Interest Margin: 3.5% vs analyst estimates of 3.5% (27 basis point year-on-year increase, 8 bps beat)
Revenue: $97.82 million vs analyst estimates of $95.51 million (14.2% year-on-year growth, 2.4% beat)
Efficiency Ratio: 53.8% vs analyst estimates of 54.9% (1.1 percentage point beat)
EPS (GAAP): $1.15 vs analyst estimates of $1.05 (9.2% beat)
Market Capitalization: $2.30 billion

“We concluded the first half of 2025 with strong momentum, delivering record second quarter earnings that reflect continued exceptional profitability, fueled in large part by robust loan growth and net interest margin expansion,” commented James A. (Ja) Hillebrand, Chairman and Chief Executive Officer.

Company Overview

Founded in 1904 in Louisville and named after the city's historic livestock market district, Stock Yards Bancorp (NASDAQ: SYBT) operates a regional bank providing commercial banking, wealth management, and trust services across Kentucky, Indiana, and Ohio.

Sales Growth

Net interest income and and fee-based revenue are the two pillars supporting bank earnings. The former captures profit from the gap between lending rates and deposit costs, while the latter encompasses charges for banking services, credit products, wealth management, and trading activities.

Over the last five years, Stock Yards Bank grew its revenue at an incredible 15.5% compounded annual growth rate. Its growth beat the average bank company and shows its offerings resonate with customers, a helpful starting point for our analysis.

We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Stock Yards Bank’s recent performance shows its demand has slowed significantly as its annualized revenue growth of 4.2% over the last two years was well below its five-year trend. Stock Yards Bank Year-On-Year Revenue Growth Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.

This quarter, Stock Yards Bank reported year-on-year revenue growth of 14.2%, and its $97.82 million of revenue exceeded Wall Street’s estimates by 2.4%.

Net interest income made up 72.8% of the company’s total revenue during the last five years, meaning lending operations are Stock Yards Bank’s largest source of revenue.

Stock Yards Bank Quarterly Net Interest Income as % of Revenue

While banks generate revenue from multiple sources, investors view net interest income as the cornerstone - its predictable, recurring characteristics stand in sharp contrast to the volatility of non-interest income.

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Tangible Book Value Per Share (TBVPS)

Banks are balance sheet-driven businesses because they generate earnings primarily through borrowing and lending. They’re also valued based on their balance sheet strength and ability to compound book value (another name for shareholders’ equity) over time.

When analyzing banks, tangible book value per share (TBVPS) takes precedence over many other metrics. This measure isolates genuine per-share value by removing intangible assets of debatable liquidation worth. EPS can become murky due to acquisition impacts or accounting flexibility around loan provisions, and TBVPS resists financial engineering manipulation.

Stock Yards Bank’s TBVPS grew at an excellent 8.6% annual clip over the last five years. TBVPS growth has also accelerated recently, growing by 15.8% annually over the last two years from $20.17 to $27.06 per share.

Stock Yards Bank Quarterly Tangible Book Value per Share

Over the next 12 months, Consensus estimates call for Stock Yards Bank’s TBVPS to grow by 11.8% to $30.26, top-notch growth rate.

Key Takeaways from Stock Yards Bank’s Q2 Results

We enjoyed seeing Stock Yards Bank beat analysts’ net interest income expectations this quarter. We were also happy its revenue outperformed Wall Street’s estimates. Overall, we think this was a decent quarter with some key metrics above expectations. The stock traded up 4.7% to $81.56 immediately after reporting.

Stock Yards Bank may have had a good quarter, but does that mean you should invest right now? When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it’s free.

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