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TickerSYBT
SectorBanks - Regional
Mkt cap$2.1B
EV / EBITDA13.7×
PostureHigh Velocity
Composite70/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 835324

Stock Yards Bancorp, Inc.

SYBTHIGH VELOCITYFILING INTENSITY

Stock Yards Bancorp, Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Regional Banking.

Lens

Disclosed M&A capital (2023–2025)

N/A

−99%

vs N/A in 2020–2022

Disclosed transactions

N/A

−99%

0/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$571M
EBITDA$185M
Enterprise value$2.5B
EV / Revenue4.5×
EV / EBITDA13.7×
P/EN/A
Cash$255M
Total debt$27M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

14/100

Companies actively deploying disclosed capital into M&A

  • $59M disclosed buyer spend

Buyer Cadence

14/100

Buyer-side companies with recent filing activity

  • Filed within 35d
  • 234 8-Ks

Target Probability

36/100

Issuers showing target-side patterns from filings

  • Control-process language
  • 1 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 1 activism filings

Pressure Watch

34/100

Issuers facing activism, governance, or control pressure

  • 1 activism filings
  • Latest activism 3.3y ago; discounted
  • Control-process filings

Distress Watch

5/100

Issuers showing financial-distress filing patterns

  • 1 activism filings

Restatement Risk

44/100

Issuers with accounting-integrity flags from filings

  • 4 auditor changes
  • 1 NT late filing
  • Latest event 11mo ago

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 234 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $2.5B
  • 10-Q 35d ago
  • 5 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $25M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
20211$25M$25MN/A
2020N/AN/AN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Geographic Expansion
    50%
  • Platform
    50%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • geographic_expansion
  • platform
  • bolt_on
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

The completion of our acquisition of Kentucky Bancshares during the second quarter of 2021 expanded our footprint into central and eastern Kentucky, providing broader product offerings, increased lending capabilities and a larger branch delivery system to our new customers in these markets.

10-KFY2021

Our acquisition of CB in the first quarter of 2022 has helped build upon our market share in our home market of Louisville, Kentucky, while also expanding our presence in neighboring Shelby County, Kentucky, as well as northern Kentucky.

10-KFY2022

Bancorp operates in a highly competitive industry that could become even more so as a result of earnings pressure of peer organizations, legislative, regulatory and technological changes and continued consolidation.

10-KFY2018

We operate in a highly competitive industry that could become even more so as a result of earnings pressure from peer organizations, legislative, regulatory and technological changes and continued consolidation.

10-KFY2021

Focusing on these relationships and our community banking model has been essential to the success of our recent acquisitions.

10-KFY2022
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Regional Banking

Market spend (2023–2025)
$245.7B
Market spend (2020–2022)
$72.8B
Recent vs prior
+238%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

13.7×EV / EBITDA

SYBT trades at a +1.5-turn premium to the Regional Banking peer median of 12.3×.

EV / Revenue
4.5×
Net debt / EBITDA
-1.2×
Peer median EV / EBITDA
12.3×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
16.7×3.7×-0.9×$13.7B$12.7B
13.9×3.0×-0.7×$58.4B$126.1B
Stock Yards Bancorp, Inc.SYBT
13.7×4.5×-1.2×$571MN/A
10.7×3.2×-2.1×$3.4B$7B
9.3×2.2×-0.3×$14.5B$72.6B

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Regional Banking. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)302026-02-26
  • 10-Q (quarterly)912026-05-05
  • 8-K (event)2342026-05-01
  • Proxy / DEF 14A392026-03-12
  • Activism (13D / DFAN / PREC)12023-03-01

Signals on file

  • elevated

    Auditor change

    2025-07-09

    4 Item 4.01 filings on file; certifying accountant change.

  • watch

    Late-filing notice

    2018-03-02

    1 NT 10-K/10-Q filing on file.

  • elevated

    Activism on file

    2023-03-01

    1 activist filing on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Recent transaction activity

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Stock Yards Bancorp, Inc.: Issuer Brief | SE-Cluster