Is Stock Yards Bancorp, Inc. overvalued or undervalued?

As of 7 November 2025, the valuation grade for Stock Yards Bancorp, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 18, a Price to Book Value of 2.29, and an EV to EBITDA of 14.87. In comparison to peers, Trustmark Corp. has a more attractive P/E of 11.24, while Banner Corp. shows a P/E of 12.84, suggesting that Stock Yards Bancorp may be priced higher relative to its competitors.
The stock has underperformed against the S&P 500, with a year-to-date return of -6.52% compared to the S&P 500's 14.40%, and a three-year return of -10.35% against the S&P 500's impressive 76.76%. This performance reinforces the notion that the stock may be fairly valued given its recent struggles in the market.