お知らせ • Oct 10
Nasdaq Files a Notification of Removal from Listing of Randolph Common Stock on Form 25 with the Securities and Exchange Commission Effective October 7, 2022, Randolph Bancorp, Inc. ("Randolph"), a Massachusetts corporation, completed its previously announced merger with Hometown Financial Group, Inc., a Massachusetts corporation ("Hometown"), pursuant to the Agreement and Plan of Merger, dated as of March 28, 2022, by and among Hometown Financial Group, MHC, a Massachusetts mutual holding company, Hometown, Hometown Financial Acquisition Corp., a Massachusetts corporation and wholly-owned subsidiary of Hometown ("Merger Sub"), and Randolph (the "Merger Agreement"). Pursuant to the Merger Agreement, Randolph merged with Merger Sub, with Randolph surviving, followed immediately by the merger of Randolph into Hometown, with Hometown surviving ("the Merger"). As a result of the Merger, Randolph no longer fulfills the listing requirements of the Nasdaq Stock Market ("Nasdaq"). On October 7, 2022, Randolph notified Nasdaq that trading in Randolph common stock should be suspended and the listing of Randolph common stock should be removed, in each case following the closing of the market on October 7, 2022. Nasdaq has filed a notification of removal from listing of Randolph common stock on Form 25 with the Securities and Exchange Commission ("the SEC") to deregister Randolph's common stock under Section 12 of the Securities Exchange Act of 1934, as amended ("the Exchange Act"). Hometown, as successor to Randolph, intends to file a Form 15 with the SEC to suspend Randolph's reporting obligations under Sections 13 and 15(d) of the Exchange Act. Reported Earnings • Jul 27
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: US$0.051 (down from US$0.32 in 2Q 2021). Revenue: US$7.57m (down 37% from 2Q 2021). Net income: US$248.0k (down 84% from 2Q 2021). Profit margin: 3.3% (down from 13% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 89%. Over the next year, revenue is expected to shrink by 35% compared to a 11% decline forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. お知らせ • Jun 26
Randolph Bancorp, Inc.(NasdaqGM:RNDB) dropped from Russell Microcap Value Index Randolph Bancorp, Inc.(NasdaqGM:RNDB) dropped from Russell Microcap Value Index Price Target Changed • Apr 27
Price target increased to US$27.00 Up from US$24.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$26.36. The company is forecast to post earnings per share of US$1.15 for next year compared to US$1.96 last year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: US$0.049 loss per share (down from US$0.81 profit in 1Q 2021). Revenue: US$7.39m (down 58% from 1Q 2021). Net loss: US$235.0k (down 106% from profit in 1Q 2021). Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is expected to shrink by 43% compared to a 7.7% decline forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. お知らせ • Mar 30
Hometown Financial Group, Inc entered into a definitive merger agreement to acquire Randolph Bancorp, Inc. (NasdaqGM:RNDB) for approximately $140 million. Hometown Financial Group, Inc entered into a definitive merger agreement to acquire Randolph Bancorp, Inc. (NasdaqGM:RNDB) for approximately $140 million on March 28, 2022. Randolph shareholders will receive $27.00 in cash for each share of Randolph common stock. The total transaction value is approximately $146.5 million. If the Merger is not consummated under specified circumstances, including if Randolph terminates the Merger Agreement for a Superior Proposal, Randolph has agreed to pay Hometown a termination fee in the amount of $5.75 million. The Merger Agreement has been unanimously approved by the Boards of Directors of each of Hometown and Randolph. The merger is anticipated to close in the fourth quarter of 2022, subject to certain conditions, including the receipt of required regulatory approvals, Randolph’s shareholder approval, and other standard conditions. Piper Sandler & Co. acted as financial advisor to Hometown Financial Group, Inc. and Scott A. Brown and Kent M. Krudys of Luse Gorman, PC served as legal counsel. Keefe, Bruyette & Woods, A Stifel Company, acted as financial advisor and Fairness Opinion provider to Randolph Bancorp, Inc. and Samantha M. Kirby of Goodwin Procter LLP acted as legal counsel. Price Target Changed • Mar 30
Price target increased to US$26.50 Up from US$24.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$26.44. The company is forecast to post earnings per share of US$1.15 for next year compared to US$1.96 last year. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 29% share price gain to US$26.44, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 11x in the Mortgage industry in the US. Total returns to shareholders of 91% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$24.03 per share. Reported Earnings • Mar 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: US$1.96 (down from US$3.89 in FY 2020). Revenue: US$54.2m (down 24% from FY 2020). Net income: US$9.60m (down 52% from FY 2020). Profit margin: 18% (down from 28% in FY 2020). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 3.13% (up from 2.90% in FY 2020). Cost-to-income ratio: 77.3% (up from 62.4% in FY 2020). Non-performing loans: 0.48% (down from 1.47% in FY 2020). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the next year, revenue is expected to shrink by 55% compared to a 8.2% decline forecast for the banks industry in the US. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. お知らせ • Feb 25
Randolph Bancorp, Inc., Annual General Meeting, May 23, 2022 Randolph Bancorp, Inc., Annual General Meeting, May 23, 2022, at 16:00 US Eastern Standard Time. Location: The corporate offices of the Company 2 Batterymarch Park Quincy Massachusetts United States Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$22.19, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Mortgage industry in the US. Total returns to shareholders of 62% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$21.81 per share. お知らせ • Feb 05
Randolph Bancorp, Inc. Announces Retirement of Janis E. Wentzell as Member of the Board of Directors, Effective February 3, 2022 Randolph Bancorp, Inc. announced that Janis E. Wentzell retired as a member of the Board of Directors of the Company and the Bank, upon her attaining age 75, effective February 3, 2022. Recent Insider Transactions Derivative • Feb 03
Independent Director exercised options to buy US$192k worth of stock. On the 28th of January, James Welch exercised options to buy 8k shares at a strike price of around US$14.02, costing a total of US$105k. This transaction amounted to 35% of their direct individual holding at the time of the trade. Since March 2021, James' direct individual holding has increased from 20.69k shares to 21.19k. Company insiders have collectively bought US$440k more than they sold, via options and on-market transactions, in the last 12 months. Major Estimate Revision • Feb 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from US$2.04 to US$1.15 per share. Revenue forecast steady at US$24.2m. Net income forecast to shrink 41% next year vs 10% decline forecast for Mortgage industry in the US. Consensus price target down from US$26.50 to US$25.50. Share price rose 3.5% to US$24.75 over the past week. Upcoming Dividend • Jan 31
Upcoming dividend of US$2.15 per share Eligible shareholders must have bought the stock before 07 February 2022. Payment date: 22 February 2022. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of American dividend payers (3.6%). Lower than average of industry peers (3.7%). Reported Earnings • Jan 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: US$1.96 (down from US$3.89 in FY 2020). Revenue: US$54.3m (down 24% from FY 2020). Net income: US$9.60m (down 52% from FY 2020). Profit margin: 18% (down from 28% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the next year, revenue is expected to shrink by 56% compared to a 10% decline forecast for the banks industry in the US. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. お知らせ • Jan 26
Randolph Bancorp, Inc. Declares Special Cash Dividend, Payable on or About February 22, 2022 Randolph Bancorp, Inc. announced that its Board of Directors declared a one-time special dividend of $2.00 per share. Special dividend will be payable on or about February 22, 2022, to shareholders of record as of February 8, 2022. Recent Insider Transactions Derivative • Jan 07
Independent Director exercised options to buy US$322k worth of stock. On the 4th of January, Janis Wentzell exercised options to buy 13k shares at a strike price of around US$14.66, costing a total of US$191k. This transaction amounted to 65% of their direct individual holding at the time of the trade. Since March 2021, Janis has owned 20.15k shares directly. Company insiders have collectively bought US$335k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Dec 10
Executive VP exercised options to buy US$177k worth of stock. On the 6th of December, Lauren Messmore exercised options to buy 8k shares at a strike price of around US$10.48, costing a total of US$83k. This transaction amounted to 12% of their direct individual holding at the time of the trade. Since March 2021, Lauren's direct individual holding has increased from 62.71k shares to 64.71k. Company insiders have collectively bought US$132k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS US$0.64 (vs US$2.01 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$14.2m (down 41% from 3Q 2020). Net income: US$3.13m (down 70% from 3Q 2020). Profit margin: 22% (down from 43% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 15
Price target increased to US$25.00 Up from US$23.00, the current price target is an average from 2 analysts. New target price is 11% above last closing price of US$22.53. Stock is up 68% over the past year. Executive Departure • Sep 23
Independent Director Paul Donovan has left the company On the 20th of September, Paul Donovan's tenure as Independent Director ended. As of June 2021, Paul still personally held 35.30k shares (US$731k worth at the time). Paul is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.17 years. Major Estimate Revision • Aug 03
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$20.3m to US$20.9m. EPS estimate fell from US$2.10 to US$1.87 per share. Net income forecast to shrink 61% next year vs 2.9% decline forecast for Mortgage industry in the US. Consensus price target of US$24.00 unchanged from last update. Share price fell 3.7% to US$20.85 over the past week. Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS US$0.32 (vs US$1.02 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$12.0m (down 30% from 2Q 2020). Net income: US$1.58m (down 70% from 2Q 2020). Profit margin: 13% (down from 30% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 04
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$20.1m to US$20.3m. EPS estimate fell from US$2.41 to US$2.10 per share. Net income forecast to shrink 60% next year vs 3.4% growth forecast for Mortgage industry in the US . Consensus price target up from US$23.00 to US$24.00. Share price fell 5.6% to US$20.25 over the past week. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS US$0.81 (vs US$0.16 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$17.7m (up 75% from 1Q 2020). Net income: US$4.11m (up US$4.93m from 1Q 2020). Profit margin: 23% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Apr 02
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$18.2m to US$20.1m. EPS estimate fell from US$4.08 to US$2.41. Net income forecast to shrink 39% next year vs 9.6% growth forecast for Mortgage industry in the US . Consensus price target up from US$18.00 to US$23.00. Share price was steady at US$19.86 over the past week. Reported Earnings • Mar 16
Full year 2020 earnings released: EPS US$3.89 (vs US$0.64 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$71.7m (up 82% from FY 2019). Net income: US$19.9m (up 481% from FY 2019). Profit margin: 28% (up from 8.7% in FY 2019). Net interest margin (NIM): 2.90% (down from 2.95% in FY 2019). Cost-to-income ratio: 62.4% (down from 91.0% in FY 2019). Non-performing loans: 1.47% (up from 0.69% in FY 2019). Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. お知らせ • Feb 26
Randolph Bancorp, Inc., Annual General Meeting, May 24, 2021 Randolph Bancorp, Inc., Annual General Meeting, May 24, 2021, at 16:00 US Eastern Standard Time. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS US$3.89 (vs US$0.64 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$71.7m (up 82% from FY 2019). Net income: US$19.9m (up 481% from FY 2019). Profit margin: 28% (up from 8.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is expected to shrink by 75% compared to a 2.0% growth forecast for the Mortgage industry in the US. Is New 90 Day High Low • Dec 29
New 90-day high: US$21.40 The company is up 70% from its price of US$12.59 on 29 September 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: US$17.80 The company is up 52% from its price of US$11.74 on 09 September 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day high: US$14.95 The company is up 40% from its price of US$10.65 on 06 August 2020. The American market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is down 4.0% over the same period. Major Estimate Revision • Nov 03
Analysts update estimates The 2020 consensus revenue estimate was lowered from US$19.2m to US$18.5m. Earnings per share (EPS) increased from US$2.28 to US$4.47 for the same period. Net income is expected to grow by 32% next year compared to 0.8% decline forecast for the Mortgage industry in the US. The consensus price target increased from US$14.00 to US$18.00. Share price is up 10% to US$14.62 over the past week. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Earnings beat expectations Earnings per share (EPS) surpassed analyst estimates by 123% at US$2.01. Revenue is expected to shrink by 70% over the next year, compared to a 11% growth forecast for the Mortgage industry in the US. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of US$15.5m, with earnings increasing by US$13.1m from the prior year. Total revenue was US$61.7m over the last 12 months, up 61% from the prior year. Is New 90 Day High Low • Oct 17
New 90-day high: US$13.51 The company is up 30% from its price of US$10.38 on 17 July 2020. The American market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 7.0% over the same period. Is New 90 Day High Low • Sep 30
New 90-day high: US$12.59 The company is up 27% from its price of US$9.90 on 02 July 2020. The American market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is down 6.0% over the same period.