First Merchants (FRME) vs Stock Yards Bancorp (SYBT)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Stock Yards Bancorp (SYBT) has outperformed First Merchants (FRME) over the past year, gaining 8.2% versus a gain of 4.8%. Over five years, SYBT leads with a +21.5% price change compared with -7.7% for FRME. First Merchants is the larger company by market cap ($2.45 billion vs $2.33 billion), about 1.0 times the size, while Stock Yards Bancorp is growing revenue faster (+12.8% vs +2.5%).
On valuation, First Merchants trades at a lower forward P/E (8.7x vs 13.2x for Stock Yards Bancorp). First Merchants offers the higher dividend yield (3.72% vs 1.70%). Stock Yards Bancorp converts more of its revenue into profit, with a net margin of 35.3% versus 34.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FRME | SYBT |
|---|---|---|
| Share price | $39.00 | $75.09 |
| Market cap | $2.45B | $2.33B |
| 1-day change | -1.49% | -1.05% |
| YTD return | +5.63% | +16.84% |
| 1-year return | +4.79% | +8.18% |
| 5-year return | -7.72% | +21.48% |
| P/E ratio (TTM) | 12.54 | 14.96 |
| Forward P/E | 8.72 | 13.20 |
| EPS (TTM) | $3.11 | $5.02 |
| Dividend yield | 3.72% | 1.70% |
| Annual dividend | $1.45 | $1.28 |
| Revenue (latest FY) | $662.95M | $397.26M |
| Revenue growth (YoY) | +2.51% | +12.77% |
| Net income (latest FY) | $226.00M | $140.15M |
| Net margin | 34.09% | 35.28% |
| 52-week high | $45.33 | $89.22 |
| 52-week low | $34.66 | $61.51 |
| Distance from 52-week high | -13.96% | -15.84% |
| Analyst consensus | buy | none |
| Avg. price target upside | +20.08% | +20.12% |
| Average volume | 462.61K | 163.88K |
| Shares outstanding | 62.80M | 31.07M |
| Employees | 2,086 | 1,270 |
| Sector | Finance | Finance |
| Industry | Major Banks | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- First Merchants offers a meaningfully higher dividend yield (3.72% vs 1.70%).
- Stock Yards Bancorp grew revenue faster in its latest fiscal year (+12.77% vs +2.51%).
About First Merchants
FRME stock →First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products.
Finance · Major Banks · 2,086 employees
About Stock Yards Bancorp
SYBT stock →Stock Yards Bancorp, Inc. operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States.
Finance · Major Banks · 1,270 employees
FRME vs SYBT FAQ
Which is bigger, First Merchants or Stock Yards Bancorp?
First Merchants (FRME) is larger, with a market capitalization of $2.45B compared with $2.33B for Stock Yards Bancorp (SYBT).
Which stock has performed better over the past year, FRME or SYBT?
SYBT returned +8.18% over the past 12 months, compared with +4.79% for FRME (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FRME or SYBT?
FRME has the lower trailing P/E at 12.5, versus 15.0 for SYBT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, First Merchants or Stock Yards Bancorp?
First Merchants has the higher yield at 3.72%, compared with 1.70% for Stock Yards Bancorp.
Are First Merchants and Stock Yards Bancorp in the same industry?
Yes. Both are classified in the Major Banks industry within the Finance sector.