NasdaqCM:CLDB

Stock Analysis Report

Executive Summary

Cortland Bancorp operates as the bank holding company for The Cortland Savings and Banking Company that provides commercial and retail banking services in Northeastern Ohio and Western Pennsylvania.

Snowflake

Fundamentals

Excellent balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Cortland Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.1%

CLDB

4.1%

US Banks

1.0%

US Market


1 Year Return

-8.7%

CLDB

7.2%

US Banks

8.0%

US Market

Return vs Industry: CLDB underperformed the US Banks industry which returned 7.2% over the past year.

Return vs Market: CLDB underperformed the US Market which returned 8% over the past year.


Shareholder returns

CLDBIndustryMarket
7 Day-3.1%4.1%1.0%
30 Day-6.7%2.8%-0.07%
90 Day-13.5%2.9%-1.0%
1 Year-6.6%-8.7%10.3%7.2%10.4%8.0%
3 Year40.8%31.9%53.9%43.3%46.2%36.7%
5 Year47.8%33.9%71.9%53.1%64.3%46.2%

Price Volatility Vs. Market

How volatile is Cortland Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

12.12x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CLDB ($20.76) is trading above our estimate of fair value ($14.32)

Significantly Below Fair Value: CLDB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CLDB is good value based on its PE Ratio (12.1x) compared to the Banks industry average (12.6x).

PE vs Market: CLDB is good value based on its PE Ratio (12.1x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CLDB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CLDB is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Cortland Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

4.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLDB's forecast earnings growth (4.8% per year) is above the savings rate (2.7%).

Earnings vs Market: CLDB's earnings (4.8% per year) are forecast to grow slower than the US market (14.5% per year).

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

Revenue vs Market: Insufficient data to determine if CLDB's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if CLDB's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CLDB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Cortland Bancorp performed over the past 5 years?

20.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CLDB's earnings have grown significantly by 20.1% per year over the past 5 years.

Accelerating Growth: CLDB's earnings growth over the past year (6%) is below its 5-year average (20.1% per year).

Earnings vs Industry: CLDB earnings growth over the past year (6%) underperformed the Banks industry 30.1%.


Return on Equity

High ROE: CLDB's Return on Equity (10.4%) is considered low.


Return on Assets

ROA vs Industry: CLDB has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CLDB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Cortland Bancorp'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

Inventory Level: CLDB has a low level of unsold assets or inventory.

Debt Coverage by Assets: CLDB's debt is covered by short term assets (assets are 1.035970x debt).


Financial Institutions Analysis

Asset Level: CLDB's level of assets compared to its equity is low.

Allowance for Bad Loans: CLDB has a low allowance for bad loans.

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

Loan Level: CLDB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CLDB's loans are broadly funded by customer deposits.

Level of Bad Loans: CLDB has an appropriate level of bad loans (1.88%)


Next Steps

Dividend

What is Cortland Bancorp's current dividend yield, its reliability and sustainability?

2.36%

Current Dividend Yield


Dividend Yield vs Market

company2.4%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CLDB's dividend (2.36%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: CLDB's dividend (2.36%) is low compared to the top 25% of dividend payers in the US market (3.68%).

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

Growing Dividend: CLDB's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.7%), CLDB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Cortland Bancorp's salary, the management and board of directors tenure and is there insider trading?

9.9yrs

Average management tenure


CEO

Jim Gasior (59yo)

9.9yrs

Tenure

US$573,180

Compensation

Mr. James M. Gasior is the President, Chief Executive Officer and Director of the Company and the Bank since 2009. He previously served as Senior Vice President, Chief Financial Officer and Corporate Secre ...


CEO Compensation Analysis

Compensation vs. Market: Jim's total compensation ($USD573.18K) is about average for companies of similar size in the US market ($USD509.77K).

Compensation vs Earnings: Jim's compensation has increased by more than 20% in the past year.


Management Age and Tenure

9.9yrs

Average Tenure

59yo

Average Age

Experienced Management: CLDB's management team is seasoned and experienced (9.9 years average tenure).


Board Age and Tenure

11.9yrs

Average Tenure

61yo

Average Age

Experienced Board: CLDB's board of directors are seasoned and experienced ( 11.9 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$16,00421 May 19
Michael Lipke
EntityIndividual
Role
Senior Key Executive
Senior VP and Special Assets & Loan Review Officer
Shares681
Max PriceUS$23.50
BuyUS$16,12506 Dec 18
Joseph Johnson
EntityIndividual
Role
Senior Key Executive
Senior VP & Credit Administration Officer
Shares750
Max PriceUS$21.50
BuyUS$10,18523 Nov 18
Timothy Carney
EntityIndividual
Role
Member of the Board of Directors
Executive VP
Shares485
Max PriceUS$21.00
BuyUS$5,25021 Nov 18
Michael Lipke
EntityIndividual
Role
Senior Key Executive
Senior VP and Special Assets & Loan Review Officer
Shares250
Max PriceUS$21.00
BuyUS$2,95419 Nov 18
Timothy Woofter
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares139
Max PriceUS$21.25

Ownership Breakdown


Management Team

  • Tim Carney (53yo)

    Executive VP

    • Tenure: 9.9yrs
    • Compensation: US$515.32k
  • Jim Gasior (59yo)

    President

    • Tenure: 9.9yrs
    • Compensation: US$573.18k
  • Joan Frangiamore

    VP & Controller

    • Tenure: 0yrs
  • Deb Eazor

    VP & Operations Manager

    • Tenure: 0yrs
  • David Lucido (61yo)

    Senior VP & CFO

    • Tenure: 9.8yrs
    • Compensation: US$370.01k
  • Rocky Page

    Senior VP & Retail Mortgage Banking Managing Officer

    • Tenure: 0yrs
  • Melanie Christie

    VP of BSA

    • Tenure: 0yrs
  • Michael Lipke

    Senior VP and Special Assets & Loan Review Officer

    • Tenure: 0yrs
  • Julianna Begalla

    VP of Marketing & Communications Officer

    • Tenure: 0yrs
  • Joseph Johnson

    Senior VP & Credit Administration Officer

    • Tenure: 0yrs

Board Members

  • Tim Carney (53yo)

    Executive VP

    • Tenure: 9.9yrs
    • Compensation: US$515.32k
  • David Cole (60yo)

    Independent Director

    • Tenure: 30.8yrs
    • Compensation: US$40.28k
  • Jim Gasior (59yo)

    President

    • Tenure: 9.9yrs
    • Compensation: US$573.18k
  • James Hoffman (67yo)

    Independent Director

    • Tenure: 35.8yrs
    • Compensation: US$33.98k
  • Richard Thompson (70yo)

    Independent Director

    • Tenure: 18.8yrs
    • Compensation: US$42.10k
  • Tim Woofter (68yo)

    Independent Chairman of the Board

    • Tenure: 9.5yrs
    • Compensation: US$37.55k
  • Neil Kaback (58yo)

    Independent Director

    • Tenure: 15.7yrs
    • Compensation: US$37.48k
  • Tom Perciak (71yo)

    Independent Vice Chairman

    • Tenure: 1.4yrs
    • Compensation: US$34.16k
  • Joseph Koch (62yo)

    Independent Director

    • Tenure: 9.4yrs
    • Compensation: US$36.24k
  • Anthony Vross (57yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$33.56k

Company Information

Cortland Bancorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cortland Bancorp
  • Ticker: CLDB
  • Exchange: NasdaqCM
  • Founded: 1892
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$93.048m
  • Shares outstanding: 4.38m
  • Website: https://www.cortlandbank.com

Number of Employees


Location

  • Cortland Bancorp
  • 194 West Main Street
  • Cortland
  • Ohio
  • 44410
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CLDBNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDSep 1993

Biography

Cortland Bancorp operates as the bank holding company for The Cortland Savings and Banking Company that provides commercial and retail banking services in Northeastern Ohio and Western Pennsylvania. Its de ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:34
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.