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 at this time. Key valuation ratios include a P/E ratio of 18, a Price to Book Value of 2.29, and an EV to EBITDA of 14.87, which suggest that while the company is not undervalued, it is also not significantly overvalued compared to its peers.
In comparison to its industry peers, Stock Yards Bancorp's P/E ratio of 18 is higher than Trustmark Corp. at 11.24 and Banner Corp. at 12.84, indicating a premium valuation relative to these companies. Notably, the company has underperformed against the S&P 500 over various periods, with a year-to-date return of -5.92% compared to the S&P 500's 14.40%, and a 3-year return of -10.83% versus 76.76% for the index, reinforcing the notion that while the stock is fairly valued, it may not be the best investment choice at this time.