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CAL

CalBankGHSE:CAL Stock Report

Market Cap

GH₵475.4m

7D

0%

1Y

8.6%

Updated

26 Oct, 2021

Data

Company Financials +
CAL fundamental analysis
Snowflake Score
Valuation6/6
Future Growth4/6
Past Performance5/6
Financial Health4/6
Dividends5/6

CAL Overview

CalBank PLC provides various banking and financial solutions for large corporations, small and medium-sized enterprises, and retail customers in Ghana.

CalBank Competitors

Standard Chartered Bank Ghana

GHSE:SCB

GH₵2.7b

Ecobank Ghana

GHSE:EGH

GH₵2.5b

GCB Bank

GHSE:GCB

GH₵1.4b

Societe Generale Ghana

GHSE:SOGEGH

GH₵851.0m

Price History & Performance

Summary of all time highs, changes and price drops for CalBank
Historical stock prices
Current Share PriceGH₵0.76
52 Week HighGH₵0
52 Week LowGH₵0
Beta0.35
1 Month Change2.70%
3 Month Change8.57%
1 Year Change8.57%
3 Year Change-26.21%
5 Year Change2.19%
Change since IPO155.46%

Recent News & Updates

Shareholder Returns

CALGH BanksGH Market
7D0%0%0.1%
1Y8.6%39.9%72.4%

Return vs Industry: CAL underperformed the GH Banks industry which returned 39.9% over the past year.

Return vs Market: CAL underperformed the GH Market which returned 70.8% over the past year.

Price Volatility

Is CAL's price volatile compared to industry and market?
CAL volatility
CAL Beta0.35
Industry Beta0.58
Market Beta1

Stable Share Price: CAL is less volatile than 75% of GH stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: CAL's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1990849Philip Owireduhttps://calbank.net

CalBank PLC provides various banking and financial solutions for large corporations, small and medium-sized enterprises, and retail customers in Ghana. It operates through five segments: Corporate Banking, Retail & Business Banking, Treasury, Brokerage, and Asset Management. The Corporate Banking segment offers loans and other credit facilities, as well as deposits, and other transactions and balances to corporate clients, institutional clients, and public sector entities.

CalBank Fundamentals Summary

How do CalBank's earnings and revenue compare to its market cap?
CAL fundamental statistics
Market CapGH₵475.45m
Earnings (TTM)GH₵237.13m
Revenue (TTM)GH₵656.82m

2.0x

P/E Ratio

0.4x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CAL income statement (TTM)
RevenueGH₵656.82m
Cost of RevenueGH₵0
Gross ProfitGH₵656.82m
ExpensesGH₵419.70m
EarningsGH₵237.13m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 11, 2021

Earnings per share (EPS)0.38
Gross Margin100.00%
Net Profit Margin36.10%
Debt/Equity Ratio174.8%

How did CAL perform over the long term?

See historical performance and comparison

Dividends

14.5%

Current Dividend Yield

32%

Payout Ratio

Valuation

Is CalBank undervalued compared to its fair value and its price relative to the market?

28.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CAL (GHS0.76) is trading below our estimate of fair value (GHS1.06)

Significantly Below Fair Value: CAL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CAL is good value based on its PE Ratio (2x) compared to the GH Banks industry average (4.1x).

PE vs Market: CAL is good value based on its PE Ratio (2x) compared to the GH market (5.2x).


Price to Earnings Growth Ratio

PEG Ratio: CAL is good value based on its PEG Ratio (0.1x)


Price to Book Ratio

PB vs Industry: CAL is good value based on its PB Ratio (0.4x) compared to the GH Banks industry average (0.7x).


Future Growth

How is CalBank forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

16.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAL's forecast earnings growth (16.2% per year) is above the savings rate (9.1%).

Earnings vs Market: CAL's earnings (16.2% per year) are forecast to grow faster than the GH market (12.7% per year).

High Growth Earnings: CAL's earnings are forecast to grow, but not significantly.

Revenue vs Market: CAL's revenue (16.2% per year) is forecast to grow faster than the GH market (15.8% per year).

High Growth Revenue: CAL's revenue (16.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CAL's Return on Equity is forecast to be high in 3 years time (22.5%)


Past Performance

How has CalBank performed over the past 5 years?

22.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CAL has high quality earnings.

Growing Profit Margin: CAL's current net profit margins (36.1%) are higher than last year (32.4%).


Past Earnings Growth Analysis

Earnings Trend: CAL's earnings have grown significantly by 22.7% per year over the past 5 years.

Accelerating Growth: CAL's earnings growth over the past year (39.8%) exceeds its 5-year average (22.7% per year).

Earnings vs Industry: CAL earnings growth over the past year (39.8%) exceeded the Banks industry 32.6%.


Return on Equity

High ROE: Whilst CAL's Return on Equity (20.29%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is CalBank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CAL's Assets to Equity ratio (7.8x) is low.

Allowance for Bad Loans: CAL has a low allowance for bad loans (67%).

Low Risk Liabilities: 71% of CAL's liabilities are made up of primarily low risk sources of funding.

Loan Level: CAL has an appropriate level of Loans to Assets ratio (24%).

Low Risk Deposits: CAL's Loans to Deposits ratio (39%) is appropriate.

Level of Bad Loans: CAL has a high level of bad loans (13.5%).


Dividend

What is CalBank current dividend yield, its reliability and sustainability?

14.47%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CAL's dividend (14.47%) is higher than the bottom 25% of dividend payers in the GH market (4.7%).

High Dividend: CAL's dividend (14.47%) is in the top 25% of dividend payers in the GH market (8.17%)


Stability and Growth of Payments

Stable Dividend: CAL's dividend payments have been volatile in the past 10 years.

Growing Dividend: CAL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.2%), CAL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CAL's dividends in 3 years are forecast to be well covered by earnings (35.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.4yrs

Average management tenure


CEO

Philip Owiredu (54 yo)

1.75yrs

Tenure

Mr. Philip Owiredu serves as Managing Director and Executive Director of CalBank Plc (formerly known as CAL Bank Limited) and is its Chief Executive Officer since January 01, 2020 and was its Chief Financi...


Leadership Team

Experienced Management: CAL's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

Experienced Board: CAL's board of directors are considered experienced (3.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

CalBank PLC's employee growth, exchange listings and data sources


Key Information

  • Name: CalBank PLC
  • Ticker: CAL
  • Exchange: GHSE
  • Founded: 1990
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: GH₵475.447m
  • Shares outstanding: 625.59m
  • Website: https://calbank.net

Number of Employees


Location

  • CalBank PLC
  • 23 Independence Avenue
  • PO Box 14596
  • Accra
  • Ghana

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 17:03
End of Day Share Price2021/10/25 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.