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Cincinnati Bancorp NasdaqCM:CNNB Stock Report

Last Price


Market Cap







06 Oct, 2022


Company Financials
CNNB fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance2/6
Financial Health6/6

CNNB Stock Overview

Cincinnati Bancorp, Inc. operates as the holding company for Cincinnati Federal that provides various banking and financial services to individuals and businesses in the United States.

Cincinnati Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cincinnati Bancorp
Historical stock prices
Current Share PriceUS$14.73
52 Week HighUS$16.26
52 Week LowUS$13.75
1 Month Change-3.22%
3 Month Change-0.065%
1 Year Change2.22%
3 Year Change51.96%
5 Year Change131.59%
Change since IPO142.07%

Recent News & Updates

Shareholder Returns

CNNBUS MortgageUS Market

Return vs Industry: CNNB exceeded the US Mortgage industry which returned -30.1% over the past year.

Return vs Market: CNNB exceeded the US Market which returned -18.8% over the past year.

Price Volatility

Is CNNB's price volatile compared to industry and market?
CNNB volatility
CNNB Average Weekly Movement4.6%
Mortgage Industry Average Movement3.4%
Market Average Movement7.0%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.9%

Stable Share Price: CNNB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: CNNB's weekly volatility (5%) has been stable over the past year.

About the Company

192277Bob Bedinghaus

Cincinnati Bancorp, Inc. operates as the holding company for Cincinnati Federal that provides various banking and financial services to individuals and businesses in the United States. The company offers various deposit accounts, including demand accounts, checking accounts, savings accounts, certificate of deposit accounts, and individual retirement accounts. Its loan portfolio comprises one- to four-family residential real estate loans; nonresidential real estate and multi-family loans; home equity loans and lines of credit; construction and land loans; commercial business loans; and consumer loans.

Cincinnati Bancorp Fundamentals Summary

How do Cincinnati Bancorp's earnings and revenue compare to its market cap?
CNNB fundamental statistics
Market CapUS$43.67m
Earnings (TTM)US$632.17k
Revenue (TTM)US$14.20m


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CNNB income statement (TTM)
Cost of RevenueUS$0
Gross ProfitUS$14.20m
Other ExpensesUS$13.57m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)0.21
Gross Margin100.00%
Net Profit Margin4.45%
Debt/Equity Ratio40.2%

How did CNNB perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is CNNB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CNNB?

Other financial metrics that can be useful for relative valuation.

CNNB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does CNNB's PE Ratio compare to its peers?

CNNB PE Ratio vs Peers
The above table shows the PE ratio for CNNB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9.9x
HVBC HV Bancorp
FBSI First Bancshares
QNTO Quaint Oak Bancorp
NIDB Northeast Indiana Bancorp
CNNB Cincinnati Bancorp

Price-To-Earnings vs Peers: CNNB is expensive based on its Price-To-Earnings Ratio (69.1x) compared to the peer average (9.9x).

Price to Earnings Ratio vs Industry

How does CNNB's PE Ratio compare vs other companies in the US Mortgage Industry?

Price-To-Earnings vs Industry: CNNB is expensive based on its Price-To-Earnings Ratio (69.1x) compared to the US Mortgage industry average (11.5x)

Price to Earnings Ratio vs Fair Ratio

What is CNNB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CNNB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio69.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CNNB's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of CNNB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CNNB ($14.73) is trading above our estimate of fair value ($8.6)

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

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

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

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cincinnati Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

  • Examine Cincinnati Bancorp's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.

Past Performance

How has Cincinnati Bancorp performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CNNB has high quality earnings.

Growing Profit Margin: CNNB's current net profit margins (4.5%) are lower than last year (21.7%).

Past Earnings Growth Analysis

Earnings Trend: CNNB's earnings have grown by 16.4% per year over the past 5 years.

Accelerating Growth: CNNB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CNNB had negative earnings growth (-84.3%) over the past year, making it difficult to compare to the Mortgage industry average (0.4%).

Return on Equity

High ROE: CNNB's Return on Equity (1.7%) is considered low.

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Financial Health

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

Financial Health Score


Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: CNNB's Assets to Equity ratio (7.1x) is low.

Allowance for Bad Loans: CNNB has a sufficient allowance for bad loans (3095%).

Low Risk Liabilities: 92% of CNNB's liabilities are made up of primarily low risk sources of funding.

Loan Level: CNNB has an appropriate level of Loans to Assets ratio (85%).

Low Risk Deposits: CNNB's Loans to Deposits ratio (107%) is appropriate.

Level of Bad Loans: CNNB has an appropriate level of bad loans (0%).

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What is Cincinnati Bancorp current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Cincinnati Bancorp Dividend Yield vs Market
How does Cincinnati Bancorp dividend yield compare to the market?
SegmentDividend Yield
Company (Cincinnati Bancorp)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Mortgage)6.6%
Analyst forecast in 3 Years (Cincinnati Bancorp)n/a

Notable Dividend: Unable to evaluate CNNB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CNNB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CNNB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CNNB's dividend payments have been increasing.

Current Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CNNB's dividend in 3 years as they are not forecast to pay a notable one for the US market.

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


Average board tenure


Bob Bedinghaus (62 yo)





Mr. Robert A. Bedinghaus, also known as Bob, has been Executive Chairman of the Board since April 1, 2017 and its Director since 2001. Mr. Bedinghaus has been a Director of Business Development at Cincinna...

CEO Compensation Analysis

Bob Bedinghaus's Compensation vs Cincinnati Bancorp Earnings
How has Bob Bedinghaus's remuneration changed compared to Cincinnati Bancorp's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021US$734kUS$227k


Sep 30 2021n/an/a


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020US$264kUS$220k


Sep 30 2020n/an/a


Jun 30 2020n/an/a


Mar 31 2020n/an/a


Dec 31 2019n/an/a


Sep 30 2019n/an/a


Jun 30 2019n/an/a


Mar 31 2019n/an/a


Dec 31 2018n/an/a


Sep 30 2018n/an/a


Jun 30 2018n/an/a


Mar 31 2018n/an/a


Dec 31 2017US$248kUS$90k


Sep 30 2017n/an/a


Jun 30 2017n/an/a


Mar 31 2017n/an/a


Dec 31 2016US$106kn/a


Sep 30 2016n/an/a


Jun 30 2016n/an/a


Mar 31 2016n/an/a


Dec 31 2015US$96kn/a


Compensation vs Market: Bob's total compensation ($USD734.19K) is about average for companies of similar size in the US market ($USD772.75K).

Compensation vs Earnings: Bob's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

Board Members

Experienced Board: CNNB's board of directors are seasoned and experienced ( 18.8 years average tenure).


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.

Recent Insider Transactions

NasdaqCM:CNNB Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
19 Sep 22SellUS$1,666,059Stilwell Value LLCCompany116,100US$15.50
24 May 22BuyUS$14,344Robert BedinghausIndividual1,000US$14.35
23 May 22BuyUS$2,890Andrew NurreIndividual200US$14.45
18 May 22BuyUS$13,826Andrew NurreIndividual947US$14.60
17 Dec 21BuyUS$10,830Robert BedinghausIndividual760US$14.25
24 Nov 21BuyUS$15,429Robert BedinghausIndividual1,000US$15.43

Ownership Breakdown

What is the ownership structure of CNNB?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders451,54315.2%
General Public1,891,81563.8%

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

Top Shareholders

Top 24 shareholders own 36.19% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Cincinnati Federal employee Stock Ownership Plan Trust
226,591$3.3m0%no data
Stilwell Value LLC
Robert Bedinghaus
103,538$1.5m0.98%no data
Horan Securities, Inc., Asset Management Arm
Joseph Bunke
72,251$1.1m0%no data
Horan Capital Advisors, LLC
Stuart Anness
58,755$865.5k0%no data
Gregory Meyers
53,800$792.5k0%no data
Harold Anness
50,979$750.9k0%no data
AllianceBernstein L.P.
49,309$726.3k33.98%no data
Charles Skidmore
42,404$624.6k0%no data
Herbert Brinkman
36,469$537.2k0%no data
Millennium Management LLC
23,699$349.1k-0.58%no data
Philip Wehrman
18,300$269.6k0%no data
Andrew Nurre
15,047$221.6k8.25%no data
NewEdge Advisors, LLC
10,000$147.3k0%no data
BlackRock, Inc.
5,721$84.3k-1.65%no data
Securities America Advisors, Inc.
4,586$67.6k0%no data
The Vanguard Group, Inc.
3,709$54.6k0%no data
Alphamark Advisors, LLC
Morgan Stanley, Investment Banking and Brokerage Investments
2,300$33.9k21.05%no data
UBS Asset Management
1,675$24.7k3.4%no data
Lord, Abbett & Co. LLC
400$5.9k0%no data
Wells Fargo & Company, Private Banking and Investment Banking Arm
17$250.413.33%no data

Company Information

Cincinnati Bancorp, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Cincinnati Bancorp, Inc.
  • Ticker: CNNB
  • Exchange: NasdaqCM
  • Founded: 1922
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Implied Market Cap: US$43.669m
  • Shares outstanding: 2.96m
  • Website:

Number of Employees


  • Cincinnati Bancorp, Inc.
  • 6581 Harrison Avenue
  • Cincinnati
  • Ohio
  • 45247
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNNBNasdaqCM (Nasdaq Capital Market)YesNew Common StockUSUSDOct 2015

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/06 00:00
End of Day Share Price2022/10/06 00:00
Annual Earnings2021/12/31

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.