SB Financial (SBFG)


Market Price (9/21/2026): $29.62 | Market Cap: $183.8 MilSector: Financials | Industry: Regional Banks

SB Financial (SBFG)


Market Price (9/21/2026): $29.62
Market Cap: $183.8 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 13%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -76%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%

Low stock price volatility
Vol 12M is 35%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

Trading close to highs
Dist 52W High is -1.7%, Dist 3Y High is -1.7%

Key risks
SBFG key risks include [1] a reduced net interest margin resulting from a shift in its funding mix to higher-cost deposits driven by liquidity concerns.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.2%, FCF Yield is 13%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -76%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%
3 Low stock price volatility
Vol 12M is 35%
4 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
5 Trading close to highs
Dist 52W High is -1.7%, Dist 3Y High is -1.7%
6 Key risks
SBFG key risks include [1] a reduced net interest margin resulting from a shift in its funding mix to higher-cost deposits driven by liquidity concerns.

SBFG in ETFs

Weight = SBFG's share of each fund

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AVUV0.00%
DFAC0.00%
DFAS0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/3/2026

SB Financial (SBFG) stock has gained about 35% since 5/31/2026 because of the following key factors:

1. Strong Second Quarter Fiscal 2026 Earnings Beat. SB Financial reported a significant beat in its fiscal Q2 2026 (ended June 30, 2026) earnings, with diluted EPS of $0.72, a 20.0% increase from the prior-year quarter, and an adjusted diluted EPS of $0.73, surpassing the consensus estimate of $0.69. Net income for the quarter rose by 16.7% to $4.5 million year-over-year. This marked the ninth consecutive quarter of loan portfolio expansion and contributed to a substantial 46.3% increase in GAAP net income for the first six months of fiscal 2026.

2. Robust Balance Sheet Growth and Improved Efficiency. The company demonstrated strong balance sheet expansion in fiscal Q2 2026, with total assets increasing 9.0% year-over-year to $1.62 billion. Loans grew by 8.7% to $1.19 billion, and total deposits climbed 11.3% to $1.39 billion from the prior-year quarter. Furthermore, the efficiency ratio improved to 67.32%. Tangible book value per common share also rose by 15.8% to $19.04 compared to the prior year.

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Updated on 9/3/2026

SB Financial (SBFG) stock has gained about 35% since 5/31/2026 because of the following key factors:

1. Strong Second Quarter Fiscal 2026 Earnings Beat. SB Financial reported a significant beat in its fiscal Q2 2026 (ended June 30, 2026) earnings, with diluted EPS of $0.72, a 20.0% increase from the prior-year quarter, and an adjusted diluted EPS of $0.73, surpassing the consensus estimate of $0.69. Net income for the quarter rose by 16.7% to $4.5 million year-over-year. This marked the ninth consecutive quarter of loan portfolio expansion and contributed to a substantial 46.3% increase in GAAP net income for the first six months of fiscal 2026.

2. Robust Balance Sheet Growth and Improved Efficiency. The company demonstrated strong balance sheet expansion in fiscal Q2 2026, with total assets increasing 9.0% year-over-year to $1.62 billion. Loans grew by 8.7% to $1.19 billion, and total deposits climbed 11.3% to $1.39 billion from the prior-year quarter. Furthermore, the efficiency ratio improved to 67.32%. Tangible book value per common share also rose by 15.8% to $19.04 compared to the prior year.

3. Sustained Strong Asset Quality. SB Financial maintained robust asset quality metrics in fiscal Q2 2026, with nonperforming assets declining to a low 0.27% of total assets, down from 0.41% in the prior year. The allowance for credit losses stood at 1.38% of loans, providing strong coverage of 470.31% for nonperforming loans. This indicated effective risk management and contributed to investor confidence.

4. Positive Analyst Sentiment and Valuation. Analyst sentiment remained positive, with Zacks.com noting on August 31, 2026, that SB Financial had surpassed the Zacks Consensus Estimate in each of its last four quarters. The stock received a Zacks Rank #2 (Buy) with a Value Grade of A on September 2, 2026, indicating it was considered an attractive investment. Additionally, StockInvest.us upgraded SBFG to a "Strong Buy Candidate" on September 2, 2026, projecting a further rise of 22.75% over the next three months.

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Stock Movement Drivers

Fundamental Drivers

The 37.3% change in SBFG stock from 5/31/2026 to 9/20/2026 was primarily driven by a 31.5% change in the company's P/E Multiple.
(LTM values as of)53120269202026Change
Stock Price ($)21.4729.4837.3%
Change Contribution By: 
Total Revenues ($ Mil)68681.1%
Net Income Margin (%)23.8%24.5%2.8%
P/E Multiple8.310.931.5%
Shares Outstanding (Mil)660.4%
Cumulative Contribution37.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/20/2026
ReturnCorrelation
SBFG37.3% 
Market (SPY)0.9%7.1%
Sector (XLF)8.3%28.4%

Fundamental Drivers

The 43.9% change in SBFG stock from 2/28/2026 to 9/20/2026 was primarily driven by a 15.8% change in the company's P/E Multiple.
(LTM values as of)22820269202026Change
Stock Price ($)20.4929.4843.9%
Change Contribution By: 
Total Revenues ($ Mil)65685.8%
Net Income Margin (%)21.2%24.5%15.6%
P/E Multiple9.410.915.8%
Shares Outstanding (Mil)661.5%
Cumulative Contribution43.9%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/20/2026
ReturnCorrelation
SBFG43.9% 
Market (SPY)11.6%17.6%
Sector (XLF)9.2%28.5%

Fundamental Drivers

The 44.3% change in SBFG stock from 8/31/2025 to 9/20/2026 was primarily driven by a 27.3% change in the company's Net Income Margin (%).
(LTM values as of)83120259202026Change
Stock Price ($)20.4229.4844.3%
Change Contribution By: 
Total Revenues ($ Mil)62689.7%
Net Income Margin (%)19.3%24.5%27.3%
P/E Multiple11.010.9-0.5%
Shares Outstanding (Mil)663.9%
Cumulative Contribution44.3%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/20/2026
ReturnCorrelation
SBFG44.3% 
Market (SPY)19.4%16.3%
Sector (XLF)4.7%38.5%

Fundamental Drivers

The 125.0% change in SBFG stock from 8/31/2023 to 9/20/2026 was primarily driven by a 50.9% change in the company's P/E Multiple.
(LTM values as of)83120239202026Change
Stock Price ($)13.1029.48125.0%
Change Contribution By: 
Total Revenues ($ Mil)576819.4%
Net Income Margin (%)21.7%24.5%13.2%
P/E Multiple7.210.950.9%
Shares Outstanding (Mil)7610.3%
Cumulative Contribution125.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/20/2026
ReturnCorrelation
SBFG125.0% 
Market (SPY)75.6%16.9%
Sector (XLF)69.8%29.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SBFG Return10%-7%-6%41%10%35%101%
Peers Return32%-4%-2%12%-2%22%67%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
SBFG Win Rate50%33%58%42%50%78% 
Peers Win Rate60%40%47%47%50%69% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
SBFG Max Drawdown-12%-20%-31%-17%-28%-13% 
Peers Max Drawdown-23%-23%-34%-16%-21%-11% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: FMNB, SRCE, LKFN, GABC, FRME.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)

How Low Can It Go

EventSBFGS&P 500
2025 US Tariff Shock
  % Loss-23.5%-18.8%
  % Gain to Breakeven30.7%23.1%
  Time to Breakeven243 days79 days
2023 SVB Regional Banking Crisis
  % Loss-29.7%-6.7%
  % Gain to Breakeven42.2%7.1%
  Time to Breakeven445 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-10.2%-24.5%
  % Gain to Breakeven11.3%32.4%
  Time to Breakeven780 days427 days
2020 COVID-19 Crash
  % Loss-48.6%-33.7%
  % Gain to Breakeven94.7%50.9%
  Time to Breakeven338 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-20.2%-19.2%
  % Gain to Breakeven25.3%23.8%
  Time to Breakeven406 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-10.1%-12.2%
  % Gain to Breakeven11.3%13.9%
  Time to Breakeven47 days62 days

Compare to FMNB, SRCE, LKFN, GABC, FRME

In The Past

SB Financial's stock fell -23.5% during the 2025 US Tariff Shock. Such a loss loss requires a 30.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventSBFGS&P 500
2025 US Tariff Shock
  % Loss-23.5%-18.8%
  % Gain to Breakeven30.7%23.1%
  Time to Breakeven243 days79 days
2023 SVB Regional Banking Crisis
  % Loss-29.7%-6.7%
  % Gain to Breakeven42.2%7.1%
  Time to Breakeven445 days31 days
2020 COVID-19 Crash
  % Loss-48.6%-33.7%
  % Gain to Breakeven94.7%50.9%
  Time to Breakeven338 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-20.2%-19.2%
  % Gain to Breakeven25.3%23.8%
  Time to Breakeven406 days105 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-51.1%-15.4%
  % Gain to Breakeven104.5%18.2%
  Time to Breakeven690 days125 days
2008-2009 Global Financial Crisis
  % Loss-24.5%-53.4%
  % Gain to Breakeven32.5%114.4%
  Time to Breakeven2134 days1085 days

Compare to FMNB, SRCE, LKFN, GABC, FRME

In The Past

SB Financial's stock fell -23.5% during the 2025 US Tariff Shock. Such a loss loss requires a 30.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About SB Financial (SBFG)

SB Financial Group, Inc. (SBFG) is a regional financial services company that delivers a broad spectrum of commercial banking and wealth management solutions. The company caters to both individual consumers and corporate entities, primarily operating within the states of Ohio, Indiana, and Michigan.

Its core offerings include a full suite of banking products such as checking, savings, money market accounts, and certificates of deposit. On the lending side, SB Financial provides commercial, consumer, agricultural, and residential mortgage loans. Beyond traditional banking, the company offers wealth management services, encompassing asset management for individuals and corporate employee benefit plans, as well as brokerage services. Additionally, it sells various insurance products to both retail and commercial customers.

As of late 2021, SB Financial maintained a physical network comprising 22 banking centers across several Ohio counties and one in Indiana. Complementing its branch network, the company also operated five loan production offices strategically located in Ohio, Indiana, and Michigan, reinforcing its commitment to serving its diverse customer base across its target regions.

AI Analysis | Feedback

Here are 1-3 brief analogies for SB Financial (SBFG):

  1. A regional KeyBank focused on Ohio, Indiana, and Michigan.
  2. Like a smaller, full-service PNC Bank, offering banking, wealth management, and insurance.
  3. A community-sized JPMorgan Chase for the Ohio, Indiana, and Michigan region, offering banking, wealth, and insurance services.

AI Analysis | Feedback

  • Deposit Accounts: Offers various accounts for individuals and businesses, including checking, savings, money market, and certificates of deposit.
  • Lending Services: Provides diverse loans such as commercial, consumer, agricultural, residential mortgages, and commercial leasing.
  • Wealth Management & Trust Services: Delivers comprehensive financial services including personal and corporate trust, asset management, and brokerage.
  • Insurance Products: Sells insurance policies to both retail and commercial clients.
  • General Banking Services: Offers essential banking conveniences like ATM access, credit cards, safe deposit boxes, and internet banking.

AI Analysis | Feedback

SB Financial (SBFG) serves a diverse customer base, primarily consisting of individuals and businesses within its operating region of Ohio, Indiana, and Michigan. As a regional bank, it does not have a few identifiable major corporate customers. Instead, its customer base can be categorized into the following groups:

  • Individuals: The company offers a full suite of retail banking services including checking and savings accounts, money market accounts, time certificates of deposit, consumer and residential mortgage loans, personal trust services, bank credit cards, internet banking, private client group services, asset management, brokerage services, and insurance products to individuals.
  • Commercial and Corporate Customers: SB Financial provides commercial banking services, commercial loans, corporate trust services, commercial leasing, corporate employee benefit plan management, and insurance products to a wide range of businesses and corporations.
  • Agricultural Customers: Given its presence in areas with agricultural activity, the company specifically offers agricultural loans to support farmers and related businesses.

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Mark A. Klein, Chairman, President & CEO

Mark A. Klein brings extensive experience in the financial institution industry. He was appointed Chairman, President and CEO of the Board of Directors of SB Financial Group, Inc. in 2015. Prior to that, he served as President and CEO of SB Financial Group, Inc. since 2010 and State Bank since 2006. Before joining SB Financial Group, Inc. and State Bank, he held leadership positions at Sky Bank, including Senior Vice President Private Banking from 2004 to 2006, Vice President and Team Leader from 2000 to 2004, and Executive Vice President and Senior Lender at a Sky Bank affiliate from 1994 to 1999.

Anthony V. Cosentino, Executive Vice President, Chief Financial Officer

Anthony V. Cosentino has served as Executive Vice President, Chief Financial Officer of SB Financial Group, Inc. since March 2010.

Keeta J. Diller, Executive Vice President, Chief Operations Officer

Keeta J. Diller serves as Executive Vice President, Chief Operations Officer.

J. Ernesto Gaytan, Executive Vice President, Chief Technology Innovation Officer

J. Ernesto Gaytan holds the title of Executive Vice President, Chief Technology Innovation Officer.

Steven A. Walz, Executive Vice President and Chief Lending Officer

Steven A. Walz is the Executive Vice President and Chief Lending Officer.

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AI Analysis | Feedback

The key risks to SB Financial Group, Inc. (SBFG) largely stem from the inherent nature of the banking industry and the current economic environment.

  1. Interest Rate Volatility and General Economic Conditions: As a financial institution, SB Financial's profitability is significantly exposed to fluctuations in interest rates, which can impact its net interest margin, loan demand, deposit levels, and the value of its assets. Adverse changes in economic and political conditions within its operating regions of Ohio, Indiana, and Michigan could also negatively affect the company's earnings, the demand for loans, deposit growth, and the repayment capacity of borrowers, thereby impacting loan and collateral values.
  2. Regulatory and Compliance Burdens, and Banking Industry Volatility: SB Financial operates within a highly regulated environment and is subject to extensive federal and state oversight, including capital and liquidity requirements, and consumer protection rules. Changes in these regulations, or increased compliance costs, can directly impact earnings, capital allocation, and strategic flexibility. Furthermore, the company acknowledges its exposure to sector-wide volatility, as evidenced by recent bank failures, which could affect its liquidity, market perception, and investor confidence.
  3. Liquidity Risk: The company faces the risk of sudden liquidity stress, which is a critical concern in the banking industry. An unexpected inability to obtain liquidity could threaten its ongoing operations and share value. Maintaining adequate regulatory capital ratios and the financial health of its subsidiaries are crucial for supporting operations and dividend payments, highlighting the importance of managing liquidity effectively.

AI Analysis | Feedback

The emergence of digital-first fintech companies and the expansion of large technology firms into financial services pose significant threats to traditional regional banks like SB Financial.
**Neobanks and Online Lenders:** Companies operating entirely online offer competitive interest rates on deposits, lower fees, and highly streamlined application processes for loans (e.g., mortgages, consumer, and small business loans). These digital competitors lack the overhead of a physical branch network, allowing them to potentially offer more attractive terms and greater convenience, thereby threatening SB Financial's core checking, savings, and lending customer base across its operating regions.
**Robo-advisors:** Automated investment platforms provide low-cost, accessible wealth management and brokerage services. These offerings directly compete with SB Financial's asset management, trust, and brokerage services, potentially drawing away individuals seeking more affordable or digitally native investment solutions.
**Big Tech's Foray into Financial Services:** Major technology companies like Apple and Google are increasingly integrating financial products (e.g., high-yield savings accounts, payment solutions) into their ecosystems, often through partnerships. Leveraging their vast user bases and strong brand recognition, these firms represent powerful new entrants that could divert customers from traditional banking relationships with institutions like SB Financial.

AI Analysis | Feedback

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SB Financial Group, Inc. (SBFG) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Loan Portfolio Expansion: The company has demonstrated consistent loan growth, with a particular focus on commercial lending in the Greater Columbus market and plans to expand its agricultural loan portfolio. This strategy has led to sequential loan growth in recent quarters and is expected to continue contributing significantly to interest income.
  2. Net Interest Margin Improvement and Stabilization: SB Financial has seen a stabilization and improvement in its net interest margin, with management anticipating it to hold near peak levels through 2026. This is supported by higher loan balances, improved asset yields, ongoing portfolio repricing, and a disciplined approach to managing funding costs.
  3. Growth in Non-Interest Income: Diversified revenue streams from non-interest income are expected to contribute to growth. This includes increased mortgage servicing rights revenue, enhanced gain-on-sale yields from mortgage loans, rising title service fees (with Peak Title outperforming the general mortgage market), and growth in wealth management fees.
  4. Strategic Acquisitions and Market Penetration: The completion of the Marblehead Bancorp acquisition in January 2025 has significantly contributed to deposit and loan growth and expanded the company's market presence in Northern Ohio. Continued strategic expansion into key geographic areas like Columbus and Cincinnati is also expected to bolster revenue.
  5. Deposit Growth Initiatives: SB Financial is focused on driving core deposit growth, both organically and through acquisitions, to support its lending activities and overall balance sheet expansion. Deposits have shown consistent increases, which provides a stable funding base for future loan growth.

AI Analysis | Feedback

Share Repurchases

  • In May 2021, SB Financial authorized a share repurchase program for up to 750,000 common shares, representing approximately 10% of its common shares.
  • A new share repurchase program for up to 500,000 common shares was authorized in December 2024.
  • In Q2 2025, the company repurchased 124,000 shares at an average price just under $19, with year-to-date repurchases totaling 252,000 shares by November 2025.

Share Issuance

  • SB Financial declared a 5% common stock dividend in January 2022.
  • The number of common shares outstanding decreased from 6,530,646 as of April 17, 2025, to 6,302,455 as of February 23, 2026, indicating a net reduction in shares.

Outbound Investments

  • In January 2025, SB Financial completed the acquisition of Marblehead Bank.
  • The Marblehead acquisition contributed $18.0 million in loans and helped drive deposit growth.

Capital Expenditures

  • Specific dollar values for capital expenditures or expected capital expenditures for the upcoming year are not available in the provided information.
  • Strategic execution in 2025 included opening new retail locations and executing branch conversions to support growth and market penetration, which implies capital expenditures.

Peer Outperformance in Regional Banks

SBFG has outperformed 77% of its 264 Regional Banks peers over 5Y. Among the peers that beat it are FBP and BPOP. Regional Banks ranks 7th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that SBFG has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
85%
of 288 industry peers · 43.9% return
3Y
72%
of 277 industry peers · 120.5% return
5Y
77%
of 264 industry peers · 105.6% return
Regional Banks peers with revenue growth within 4pp of SBFG's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
SBFG SB Financial 6.3% 10.9x 43.9%120.5%105.6%
FBP First BanCorp 2.9% 11.4x 29.1%131.6%174.3% +69pp
BPOP Popular 2.8% 10.7x 29.5%183.6%160.6% +55pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is SBFG's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 24.2%70.6%133.7% SPNT 170% · RGA 154% · RNR 140%
Investment Banking & Brokerage 13 -1.7%105.1%116.5% IBKR 527% · SNEX 257% · HOOD 183%
Diversified Banks 12 27.5%129.8%116.3% CM 161% · JPM 159% · RY 149%
Life & Health Insurance 20 8.6%57.6%105.8% JXN 534% · UNM 373% · FG 207%
Multi-Sector Holdings 4 6.8%50.2%87.3% JONE 361% · VOYA 88% · BRK-B 87%
Property & Casualty Insurance 42 9.6%67.5%67.8% ASIC 2760900% · HRTG 445% · UVE 331%
Regional Banks ← 265 23.9%91.7%67.1% ESQ 391% · GCBC 340% · VBNK 335%
Multi-line Insurance 9 8.8%71.2%64.1% GNW 201% · L 112% · SLF 104%
Financial Exchanges & Data 15 -0.1%17.4%32.7% VIRT 184% · CBOE 135% · CME 83%
Diversified Financial Services 4 -7.3%22.1%32.6% FRHC 168% · EQH 119% · TMS -54%
Consumer Finance 30 1.7%89.6%26.9% ENVA 447% · EZPW 319% · FCFS 168%
Insurance Brokers 16 -15.1%-6.3%20.3% LIFE 200% · ARX 87% · AJG 70%
Commercial & Residential Mortgage Finance 14 -50.2%32.8%13.9% FNMA 454% · FMCC 436% · ACT 204%
Asset Management & Custody Banks 84 -11.7%17.6%12.0% WT 348% · SII 279% · VCTR 274%
Specialized Finance 3 14.0%42.2%-2.8% EFC 27% · CACC -3% · HASI -16%
Mortgage REITs 33 -13.0%7.4%-16.5% NREF 53% · RITM 42% · DX 34%
Transaction & Payment Processing Services 15 -1.0%-5.9%-42.9% V 74% · MA 73% · CPAY 58%
Diversified Capital Markets 20 -36.3%20.7%-48.1% OPY 196% · LPLA 136% · GOLD 90%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1SB Financial Stock Lost 11%, Buy Or Wait?10/17/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SBFGFMNBSRCELKFNGABCFRMEMedian
NameSB Finan.Farmers .1st Sour.Lakeland.German A.First Me. 
Mkt Price29.4815.5685.8859.7049.1340.8745.00
Mkt Cap0.20.92.11.51.82.51.7
Rev LTM68224453279386692333
Op Inc LTM-------
FCF LTM2361208112182315147
FCF 3Y Avg1657198107130281118
CFO LTM2564216129190315159
CFO 3Y Avg1764208118135281126

Growth & Margins

SBFGFMNBSRCELKFNGABCFRMEMedian
NameSB Finan.Farmers .1st Sour.Lakeland.German A.First Me. 
Rev Chg LTM9.7%24.1%11.0%9.6%29.2%8.4%10.3%
Rev Chg 3Y Avg6.3%10.2%7.0%3.6%17.4%0.9%6.7%
Rev Chg Q4.5%49.7%9.2%6.8%11.2%19.3%10.2%
QoQ Delta Rev Chg LTM1.1%11.7%2.2%1.6%2.7%4.8%2.5%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM36.3%28.8%47.8%46.1%49.1%45.5%45.8%
CFO/Rev 3Y Avg27.7%34.1%50.5%44.8%44.8%42.9%43.8%
FCF/Rev LTM33.7%27.1%46.0%40.0%47.2%45.5%42.7%
FCF/Rev 3Y Avg25.1%29.8%48.1%40.8%43.0%42.9%41.9%

Valuation

SBFGFMNBSRCELKFNGABCFRMEMedian
NameSB Finan.Farmers .1st Sour.Lakeland.German A.First Me. 
Mkt Cap0.20.92.11.51.82.51.7
P/S2.74.14.65.44.83.74.3
P/Op Inc-------
P/EBIT-------
P/E10.913.812.113.413.013.713.2
P/CFO7.414.29.611.69.78.19.6
Total Yield11.3%10.4%10.2%10.9%10.1%10.8%10.6%
Dividend Yield2.1%3.2%2.0%3.5%2.4%3.5%2.8%
FCF Yield 3Y Avg12.7%9.8%12.6%6.8%9.0%12.4%11.1%
D/E0.20.50.10.00.10.60.2
Net D/E-0.8-0.3-0.5-0.4-0.60.2-0.4

Returns

SBFGFMNBSRCELKFNGABCFRMEMedian
NameSB Finan.Farmers .1st Sour.Lakeland.German A.First Me. 
1M Rtn11.0%0.3%0.1%-0.9%-1.5%-1.9%-0.4%
3M Rtn28.9%11.3%12.2%0.6%9.9%1.3%10.6%
6M Rtn49.5%26.5%31.1%9.8%22.8%13.8%24.6%
12M Rtn43.9%11.8%38.1%-5.8%23.8%5.2%17.8%
3Y Rtn120.5%56.4%120.2%44.8%95.9%65.7%80.8%
1M Excs Rtn11.7%1.3%0.9%0.1%-0.0%-1.1%0.5%
3M Excs Rtn26.9%9.3%10.2%-1.4%7.9%-0.7%8.6%
6M Excs Rtn33.5%10.0%14.1%-6.8%9.2%-2.1%9.6%
12M Excs Rtn30.2%-4.8%22.8%-20.3%9.0%-9.5%2.1%
3Y Excs Rtn50.8%-20.9%43.1%-37.6%16.8%-11.9%2.4%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Banking6657575869
Total6657575869


Operating Income by Segment
$ Mil20132012201120102004
Banking1067-12
Intersegment Elimination-0    
Data Processing-00-2-192
Other-22-3-3-1
Intersegment Elimination 000 
Total792-223


Net Income by Segment
$ Mil20102008
Banking05
Other-2-2
Data Processing-143
Total-165


Assets by Segment
$ Mil20252024202320132012
Banking1,5451,3801,343632633
Data Processing   22
Intersegment Elimination   -80 
Other   7875
Intersegment Elimination    -73
Total1,5451,3801,343632638


Price Behavior

Price Behavior
Market Price$29.48 
Market Cap ($ Bil)0.2 
First Trading Date01/04/1999 
Distance from 52W High-1.7% 
   50 Days200 Days
DMA Price$27.38$23.09
DMA Trendupup
Distance from DMA7.7%27.7%
 3M1YR
Volatility31.5%34.5%
Downside Capture-75.5112.31
Upside Capture67.2252.87
Correlation (SPY)7.2%16.7%
SBFG Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta-0.490.290.090.400.420.38
Up Beta-0.530.25-0.060.600.870.44
Down Beta1.220.250.240.020.290.54
Up Capture-9%60%67%67%36%12%
Bmk +ve Days10213268138427
Stock +ve Days11233767128373
Down Capture-182%-6%-63%14%18%27%
Bmk -ve Days11213259113324
Stock -ve Days10192759122350

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SBFG
SBFG46.4%34.6%1.15-
Sector ETF (XLF)4.5%14.6%0.0839.3%
Equity (SPY)16.9%12.9%0.9416.6%
Gold (GLD)19.1%29.3%0.600.3%
Commodities (DBC)46.3%20.6%1.73-20.8%
Real Estate (VNQ)4.9%13.6%0.1026.0%
Bitcoin (BTCUSD)-30.6%44.3%-0.7011.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SBFG
SBFG14.8%31.9%0.50-
Sector ETF (XLF)10.1%18.4%0.4126.5%
Equity (SPY)12.9%17.2%0.5717.3%
Gold (GLD)19.1%18.8%0.830.5%
Commodities (DBC)11.2%19.5%0.45-1.1%
Real Estate (VNQ)1.1%18.8%-0.0517.8%
Bitcoin (BTCUSD)12.5%52.5%0.4210.3%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with SBFG
SBFG12.3%33.3%0.44-
Sector ETF (XLF)12.9%22.1%0.5332.4%
Equity (SPY)15.1%18.0%0.7224.8%
Gold (GLD)12.1%16.4%0.613.5%
Commodities (DBC)8.3%18.1%0.3710.2%
Real Estate (VNQ)4.4%20.7%0.1826.8%
Bitcoin (BTCUSD)62.6%66.2%1.0210.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity0.0 Mil
Short Interest: % Change Since 8152026-7.4%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest1.5 days
Basic Shares Quantity6.2 Mil
Short % of Basic Shares0.4%

Earnings Returns History

Updated 9/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/20261.4%2.6%6.0%
2/2/2026-1.3%-3.8%-7.7%
11/4/20254.8%5.6%8.8%
7/29/2025-1.8%1.7%6.5%
5/6/2025-1.1%0.9%-6.1%
1/29/20250.2%5.5%-4.1%
10/30/2024-2.2%-4.7%11.3%
7/23/2024-0.1%5.0%-1.7%
...
SUMMARY STATS   
# Positive91314
# Negative14109
Median Positive1.7%2.6%5.9%
Median Negative-1.4%-2.1%-3.0%
Max Positive4.8%10.8%17.5%
Max Negative-3.1%-5.9%-7.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/20261.4%2.6%6.0%
2/2/2026-1.3%-3.8%-7.7%
11/4/20254.8%5.6%8.8%
7/29/2025-1.8%1.7%6.5%
5/6/2025-1.1%0.9%-6.1%
1/29/20250.2%5.5%-4.1%
10/30/2024-2.2%-4.7%11.3%
7/23/2024-0.1%5.0%-1.7%
4/29/2024-1.9%-1.0%5.0%
1/26/20243.3%1.6%-6.0%
11/3/2023-3.1%-5.9%1.6%
8/4/20230.0%2.4%5.7%
4/25/2023-2.1%-2.1%0.0%
1/31/20231.7%1.7%3.0%
11/8/2022-0.9%1.1%-0.3%
8/1/20223.2%-2.2%1.7%
5/3/20221.4%-4.4%-2.9%
2/1/20221.7%3.0%-3.0%
11/3/2021-1.6%-0.1%-1.1%
8/3/2021-1.6%-1.1%2.4%
5/10/2021-1.0%2.6%9.2%
2/3/2021-0.3%-0.1%6.6%
11/5/2020-0.8%10.8%17.5%
SUMMARY STATS   
# Positive91314
# Negative14109
Median Positive1.7%2.6%5.9%
Median Negative-1.4%-2.1%-3.0%
Max Positive4.8%10.8%17.5%
Max Negative-3.1%-5.9%-7.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/06/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/07/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/08/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/07/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202503/06/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/07/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/08/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/07/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202103/07/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/07/202110-Q
12/31/202003/08/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/07/202010-Q
12/31/201903/06/202010-K
09/30/201911/07/201910-Q

Recent Forward Guidance

Updated 8/1/2026

Latest: Q2 2026 Earnings Reported 7/31/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 Mortgage OriginationsReported 80.00 Mil    
Q3 2026 Net Interest MarginReported3.45%3.5%3.55%   
Q3 2026 Non-interest ExpenseReported12.30 Mil12.35 Mil12.40 Mil   
Q4 2026 Mortgage OriginationsReported50.00 Mil55.00 Mil60.00 Mil   
Q4 2026 Non-interest ExpenseReported 12.00 Mil    
2026 Loan GrowthReported5.0E9%6.0E9%7.0E9%   


Prior: Q4 2025 Earnings Reported 2/2/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Mortgage ProductionReported310.00 Mil320.00 Mil330.00 Mil   
2026 Expense GrowthReported3.5%3.75%4.0%7.1%0.2%RaisedGuidance: 3.5% for 2026
2026 Net Interest Margin ChangeReported-0.07%-0.06%    
2026 Net IncomeReported 15.00 Mil    

Q3 2025 Earnings Reported 11/4/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Mortgage VolumeReported 80.00 Mil    
2026 Loan GrowthReported 8.5%    
2026 Deposit GrowthReported 4.5%    
2026 Nonperforming AssetsReported 0    
2026 Operating Expense GrowthReported 3.5%    

Insider Activity

Updated 6/17/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hardgrove, Richard L DirectSell615202623.0065014,950332,074Form
2Strausbaugh, Sue Ann JOINT W/ SPOUSEBuy304202620.684899358,938Form
3Hardgrove, Richard L DirectSell204202622.1597721,641308,727Form
4Claxton, Timothy L DirectBuy624202517.642,00035,278178,630Form
5Klein, Mark ACHAIRMAN, PRESIDENT, CEOTRUSTBuy620202517.551001,7551,870,251Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hardgrove, Richard L DirectSell615202623.0065014,950332,074Form
2Strausbaugh, Sue Ann JOINT W/ SPOUSEBuy304202620.684899358,938Form
3Hardgrove, Richard L DirectSell204202622.1597721,641308,727Form
4Claxton, Timothy L DirectBuy624202517.642,00035,278178,630Form
5Klein, Mark ACHAIRMAN, PRESIDENT, CEOTRUSTBuy620202517.551001,7551,870,251Form
Core Cache Last Updated: 9/20/2026