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Codorus Valley Bancorp

Nasdaq:CVLY
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CVLY
Nasdaq
$220M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Codorus Valley Bancorp, Inc. operates as the bank holding company for the PeoplesBank that provides various business and consumer banking services. The last earnings update was 3 days ago. More info.


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CVLY Share Price and Events
7 Day Returns
1.5%
NasdaqGM:CVLY
2.4%
US Banks
2.4%
US Market
1 Year Returns
-15.9%
NasdaqGM:CVLY
-9.8%
US Banks
1.9%
US Market
CVLY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Codorus Valley Bancorp (CVLY) 1.5% 4.4% 4.8% -15.9% 34.3% 36.2%
US Banks 2.4% 0.5% 12.6% -9.8% 48.9% 40.9%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • CVLY underperformed the Banks industry which returned -9.8% over the past year.
  • CVLY underperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
CVLY
Industry
5yr Volatility vs Market

Value

 Is Codorus Valley Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Codorus Valley Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Codorus Valley Bancorp.

NasdaqGM:CVLY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $17.33 * 8.1%
$1.41
Book Value of Equity per Share Median Book Value from the past 5 years. $17.33
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:CVLY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.637 (1 + (1- 21%) (55.58%))
0.944
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.944 * 5.96%)
8.36%

Discounted Cash Flow Calculation for NasdaqGM:CVLY using Excess Returns Model Model

The calculations below outline how an intrinsic value for Codorus Valley Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:CVLY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.1% – 8.36%) * $17.33)
$-0.04
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.04 / (8.36% - 2.73%)
$-0.75
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.33 + $-0.75
$16.58
NasdaqGM:CVLY Discount to Share Price
Calculation Result
Value per share (USD) From above. $16.58
Current discount Discount to share price of $23.27
= -1 x ($23.27 - $16.58) / $16.58
-40.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Codorus Valley Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Codorus Valley Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Codorus Valley Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:CVLY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.08
NasdaqGM:CVLY Share Price ** NasdaqGM (2019-03-18) in USD $23.27
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 13.36x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Codorus Valley Bancorp.

NasdaqGM:CVLY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:CVLY Share Price ÷ EPS (both in USD)

= 23.27 ÷ 2.08

11.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Codorus Valley Bancorp is good value based on earnings compared to the US Banks industry average.
  • Codorus Valley Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Codorus Valley Bancorp's expected growth come at a high price?
Raw Data
NasdaqGM:CVLY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
4.2%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.24x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Codorus Valley Bancorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Codorus Valley Bancorp's assets?
Raw Data
NasdaqGM:CVLY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $18.91
NasdaqGM:CVLY Share Price * NasdaqGM (2019-03-18) in USD $23.27
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.25x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
NasdaqGM:CVLY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:CVLY Share Price ÷ Book Value per Share (both in USD)

= 23.27 ÷ 18.91

1.23x

* Primary Listing of Codorus Valley Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Codorus Valley Bancorp is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Codorus Valley Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Codorus Valley Bancorp has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Codorus Valley Bancorp expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Codorus Valley Bancorp, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Codorus Valley Bancorp expected to grow at an attractive rate?
  • Codorus Valley Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Codorus Valley Bancorp's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Codorus Valley Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:CVLY Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:CVLY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 4.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:CVLY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:CVLY Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 75 21 20
2018-09-30 74 23 17
2018-06-30 72 22 15
2018-03-31 69 17 13
2017-12-31 67 17 12
2017-09-30 65 17 14
2017-06-30 64 16 14
2017-03-31 62 20 14
2016-12-31 61 18 13
2016-09-30 58 16 12
2016-06-30 57 17 12
2016-03-31 55 15 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Codorus Valley Bancorp's earnings are expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Codorus Valley Bancorp is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:CVLY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Codorus Valley Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:CVLY Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.08
2018-09-30 1.78
2018-06-30 1.61
2018-03-31 1.36
2017-12-31 1.29
2017-09-30 1.54
2017-06-30 1.55
2017-03-31 1.48
2016-12-31 1.42
2016-09-30 1.36
2016-06-30 1.40
2016-03-31 1.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Codorus Valley Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Codorus Valley Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Codorus Valley Bancorp has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Codorus Valley Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Codorus Valley Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Codorus Valley Bancorp's year on year earnings growth rate has been positive over the past 5 years.
  • Codorus Valley Bancorp's 1-year earnings growth exceeds its 5-year average (62.8% vs 9.6%)
  • Codorus Valley Bancorp's earnings growth has exceeded the US Banks industry average in the past year (62.8% vs 43.2%).
Earnings and Revenue History
Codorus Valley Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Codorus Valley Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:CVLY Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 74.53 19.54 41.93
2018-09-30 74.28 16.69 40.68
2018-06-30 71.84 15.04 39.83
2018-03-31 69.17 12.67 39.25
2017-12-31 66.89 12.00 37.86
2017-09-30 64.77 14.36 37.13
2017-06-30 63.95 14.35 36.54
2017-03-31 62.15 13.70 36.01
2016-12-31 60.61 13.09 35.38
2016-09-30 57.89 11.98 34.84
2016-06-30 56.57 11.56 33.95
2016-03-31 54.89 11.41 32.84
2015-12-31 53.38 11.02 31.91
2015-09-30 52.91 11.03 30.45
2015-06-30 51.60 11.19 29.08
2015-03-31 50.35 11.06 27.92
2014-12-31 48.91 11.60 26.61
2014-09-30 47.63 11.36 25.93
2014-06-30 46.47 10.83 25.52
2014-03-31 45.34 10.66 24.99
2013-12-31 44.64 10.32 24.48
2013-09-30 43.93 10.19 23.68
2013-06-30 43.11 9.38 22.96
2013-03-31 43.04 9.51 22.20
2012-12-31 42.43 9.01 22.23
2012-09-30 42.03 9.04 21.26
2012-06-30 38.30 7.24 20.80
2012-03-31 36.91 6.16 20.81

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Codorus Valley Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Codorus Valley Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Codorus Valley Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Codorus Valley Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Codorus Valley Bancorp has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Codorus Valley Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Codorus Valley Bancorp Company Filings, last reported 2 months ago.

NasdaqGM:CVLY Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 178.75 122.33 96.72
2018-09-30 173.60 143.93 85.35
2018-06-30 170.37 148.27 86.02
2018-03-31 165.68 145.03 78.19
2017-12-31 164.22 150.81 79.47
2017-09-30 164.05 167.23 19.66
2017-06-30 161.44 171.83 61.33
2017-03-31 157.94 198.91 87.62
2016-12-31 154.96 181.95 73.98
2016-09-30 155.32 136.37 46.14
2016-06-30 153.02 142.20 79.33
2016-03-31 150.02 146.90 12.44
2015-12-31 159.14 194.82 57.44
2015-09-30 125.44 167.66 72.03
2015-06-30 122.60 155.99 58.99
2015-03-31 120.68 119.54 26.82
2014-12-31 118.44 132.59 31.02
2014-09-30 115.86 121.81 34.23
2014-06-30 113.68 110.42 36.08
2014-03-31 123.36 103.29 42.09
2013-12-31 107.65 110.86 14.99
2013-09-30 105.73 82.05 17.15
2013-06-30 103.26 63.66 64.82
2013-03-31 103.19 59.89 36.93
2012-12-31 101.33 50.17 49.68
2012-09-30 100.23 60.17 51.26
2012-06-30 98.12 61.47 56.01
2012-03-31 95.27 50.12 39.10
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Codorus Valley Bancorp has an acceptable proportion of non-loan assets held.
  • Codorus Valley Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Codorus Valley Bancorp are broadly funded by customer deposits.
  • Codorus Valley Bancorp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Codorus Valley Bancorp has a low allowance for bad loans.
  • Codorus Valley Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Codorus Valley Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Codorus Valley Bancorp has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.75%
Current annual income from Codorus Valley Bancorp dividends.
If you bought $2,000 of Codorus Valley Bancorp shares you are expected to receive $55 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Codorus Valley Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Codorus Valley Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:CVLY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 470 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:CVLY Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-09 0.640 2.838
2018-10-10 0.591 2.412
2018-07-11 0.591 1.999
2018-04-11 0.591 2.081
2018-01-10 0.591 2.246
2017-10-11 0.490 1.731
2017-07-12 0.490 1.965
2017-04-12 0.490 1.982
2017-01-11 0.490 2.053
2016-10-12 0.449 2.081
2016-07-13 0.449 2.448
2016-04-13 0.449 2.493
2016-01-14 0.449 2.572
2015-10-14 0.449 2.539
2015-07-16 0.428 2.539
2015-04-16 0.411 2.401
2015-01-16 0.411 2.473
2014-10-17 0.392 2.337
2014-07-08 0.411 2.516
2014-04-09 0.376 2.280
2014-01-14 0.376 2.284
2013-10-09 0.357 2.280
2013-07-10 0.358 2.683
2013-04-11 0.328 2.591
2013-01-10 0.328 2.742
2012-10-10 0.313 2.795
2012-07-10 0.313 2.931
2012-04-10 0.256 2.682
2012-01-17 0.256 3.405
2011-10-17 0.256 4.199
2011-07-19 0.256 3.710
2011-04-19 0.256 3.408
2011-01-20 0.228 3.046
2010-10-26 0.178 2.724
2010-04-16 0.171 2.999
2010-01-26 0.085 1.944
2009-10-27 0.085 2.119
2009-07-29 0.085 1.933
2009-04-20 0.228 4.453
2009-03-30 0.341 5.623
2009-03-20 0.341 5.987

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Codorus Valley Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Codorus Valley Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Codorus Valley Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Codorus Valley Bancorp has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Larry Miller
COMPENSATION $513,311
AGE 66
TENURE AS CEO 33.2 years
CEO Bio

Mr. Larry J. Miller has been the Chief Executive Officer of Codorus Valley BanCorp, Inc. (“BanCorp”) since 1986 and has been its President since 1986 and Chairman since August 8, 2015. He serves as Executive Chairman and Interim Chief Executive Officer of PeoplesBank (“Bank”). He has served as Bank’s President from 1986 to March, 2016. He served as Vice Chairman of Bank since 2004 and has been its Director since 1981. He has been the Chairman of BanCorp Inc. since August, 2015 and served as its Vice Chairman from 2004 to August, 2015 and its Director since 1986. He served as the Chairman of United Way of York County; the York County Economic Development Corporation; YorkCounts; the Cultural Alliance of York County and Wellspan Health System and in other leadership capacities for various non-profit organizations. He attended York College of Pennsylvania, is a graduate from The Pennsylvania School of Banking at Bucknell University.

CEO Compensation
  • Larry's compensation has been consistent with company performance over the past year.
  • Larry's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Codorus Valley Bancorp management team in years:

1
Average Tenure
54.5
Average Age
  • The average tenure for the Codorus Valley Bancorp management team is less than 2 years, this suggests a new team.
Management Team

Larry Miller

TITLE
Chairman
COMPENSATION
$513K
AGE
66
TENURE
33.2 yrs

Diane Baker

TITLE
Former Interim CFO & Interim Treasurer
COMPENSATION
$335K
AGE
47
TENURE
0.8 yrs

Amy Doll

TITLE
Senior VP and Chief Revenue & Lending Officer of Peoplesbank
COMPENSATION
$382K

Craig Kauffman

TITLE
Executive VP & COO
TENURE
0.6 yrs

Tim Nieman

TITLE
Secretary & General Counsel
AGE
52
TENURE
1.2 yrs

Matthew Clemens

TITLE
Chief Administrative Officer & Senior VP of Peoplesbank
COMPENSATION
$301K

Dennis Ginder

TITLE
Senior VP & Chief Credit Officer
TENURE
1.2 yrs

Larry Pickett

TITLE
Treasurer
AGE
57
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure and age of the Codorus Valley Bancorp board of directors in years:

5.5
Average Tenure
65
Average Age
  • The tenure for the Codorus Valley Bancorp board of directors is about average.
Board of Directors

Larry Miller

TITLE
Chairman
COMPENSATION
$513K
AGE
66
TENURE
3.6 yrs

Ron Swift

TITLE
Vice Chairman & Lead Director
COMPENSATION
$80K
AGE
70
TENURE
1.7 yrs

Cindy Dotzel

TITLE
Director
COMPENSATION
$76K
AGE
64
TENURE
7.3 yrs

Jeff Hines

TITLE
Director
COMPENSATION
$65K
AGE
57
TENURE
7.3 yrs

John Giambalvo

TITLE
Director
COMPENSATION
$49K
AGE
49
TENURE
1.7 yrs

MacGregor Jones

TITLE
Director
COMPENSATION
$69K
AGE
72
TENURE
26.2 yrs

Dallas Smith

TITLE
Director
COMPENSATION
$72K
AGE
72
TENURE
33.2 yrs

Brian Brunner

TITLE
Director
COMPENSATION
$67K
AGE
62
TENURE
3.2 yrs
Who owns this company?
Recent Insider Trading
  • Codorus Valley Bancorp insiders have sold more shares than they have bought in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
04. Mar 19 Sell Harry Swift Individual 28. Feb 19 28. Feb 19 -1,000 $22.74 $-22,740
07. Feb 19 Buy John Giambalvo Individual 06. Feb 19 06. Feb 19 352 $22.86 $8,047
10. Jan 19 Sell Dallas Smith Individual 27. Nov 18 27. Nov 18 -140 $24.03 $-3,364
08. Nov 18 Buy John Giambalvo Individual 07. Nov 18 07. Nov 18 350 $25.40 $8,890
10. Aug 18 Sell Harry Swift Individual 08. Aug 18 08. Aug 18 -1,050 $30.33 $-31,850
10. Aug 18 Buy John Giambalvo Individual 08. Aug 18 08. Aug 18 305 $30.44 $9,268
15. May 18 Sell Lynn Crenshaw Individual 14. May 18 14. May 18 -1,125 $28.10 $-31,602
10. May 18 Sell MacGregor Jones Individual 08. May 18 08. May 18 -2,303 $28.05 $-64,584
08. May 18 Buy John Giambalvo Individual 07. May 18 07. May 18 315 $28.10 $8,850
08. May 18 Sell MacGregor Jones Individual 07. May 18 07. May 18 -322 $28.05 $-9,041
X
Management checks
We assess Codorus Valley Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Codorus Valley Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Did Codorus Valley Bancorp, Inc. (NASDAQ:CVLY) Insiders Sell Shares?

(NASDAQ:CVLY), you may well want to know whether insiders have been buying or selling. … Codorus Valley Bancorp Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Codorus Valley Bancorp shares, than buying

Simply Wall St -

Have You Considered These Key Risks For Codorus Valley Bancorp, Inc. (NASDAQ:CVLY)?

As a small-cap bank with a market capitalisation of US$216m, Codorus Valley Bancorp, Inc.’s (NASDAQ:CVLY) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Codorus Valley Bancorp’s bottom line. … See our latest analysis for Codorus Valley Bancorp

Simply Wall St -

How Much Did Codorus Valley Bancorp, Inc.'s (NASDAQ:CVLY) CEO Pocket Last Year?

Larry Miller became the CEO of Codorus Valley Bancorp, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Larry Miller's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Codorus Valley Bancorp, Inc. (NASDAQ:CVLY)

We'll show how you can use Codorus Valley Bancorp, Inc.'s (NASDAQ:CVLY) P/E ratio to inform your assessment of the investment opportunity. … Based on the last twelve months, Codorus Valley Bancorp's P/E ratio is 10.46. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

How Does Codorus Valley Bancorp, Inc. (NASDAQ:CVLY) Fare As A Dividend Stock?

Historically, Codorus Valley Bancorp, Inc. … Does Codorus Valley Bancorp tick all the boxes of a great dividend stock? … View our latest analysis for Codorus Valley Bancorp

Simply Wall St -

Financial Metrics For Codorus Valley Bancorp, Inc. (NASDAQ:CVLY)

As a small-cap bank stock with a market capitalisation of US$210m, Codorus Valley Bancorp, Inc.’s (NASDAQ:CVLY) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels. … Today we will be measuring Codorus Valley Bancorp’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

What You Should Know About Codorus Valley Bancorp Inc’s (NASDAQ:CVLY) Risks

As a small-cap bank with a market capitalisation of US$224m, Codorus Valley Bancorp Inc’s (NASDAQ:CVLY) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off Codorus Valley Bancorp’s bottom line. … Check out our latest analysis for Codorus Valley Bancorp

Simply Wall St -

Is Codorus Valley Bancorp Inc's (NASDAQ:CVLY) CEO Being Overpaid?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Our data indicates that Codorus Valley Bancorp Inc is worth US$240m, and total annual CEO compensation is US$513k. … Most shareholders would consider it a positive that Larry Miller takes less compensation than the CEOs of most similar size companies, leaving more for shareholders.

Simply Wall St -

Does Codorus Valley Bancorp Inc's (NASDAQ:CVLY) PE Ratio Warrant A Sell?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Codorus Valley Bancorp Inc (NASDAQ:CVLY) trades on a trailing P/E of 17.8. … Though this might seem to be a negative, you might change your mind after I explain the assumptions behind the P/E ratio.

Simply Wall St -

Should You Be Concerned About Codorus Valley Bancorp Inc’s (NASDAQ:CVLY) Risks?

As a small-cap bank with a market capitalisation of US$283.95m, Codorus Valley Bancorp Inc’s (NASDAQ:CVLY) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Codorus Valley Bancorp’s bottom line. … Today we will analyse Codorus Valley Bancorp’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Company Info

Description

Codorus Valley Bancorp, Inc. operates as the bank holding company for the PeoplesBank that provides various business and consumer banking services. The company accepts demand, money market, time, and savings deposits. It also offers commercial real estate loans; industrial loans; construction loans; commercial loans, such as builder and developer, commercial and residential real estate investor, hotel/motel, wholesale and retail, agriculture, manufacturing, and other loans; and consumer loans, including residential mortgage, home equity, and other loans. In addition, it provides personal and mortgage banking, wealth management, and real estate settlement services; and sells non-deposit investment products. As of December 31, 2017, the company operated 26 full service financial centers located in York, Cumberland, and Lancaster counties in Pennsylvania, as well as Baltimore, Harford, and Carroll counties in Maryland. Codorus Valley Bancorp, Inc. was founded in 1864 and is headquartered in York, Pennsylvania.

Details
Name: Codorus Valley Bancorp, Inc.
CVLY
Exchange: NasdaqGM
Founded: 1864
$220,083,471
9,457,820
Website: http://www.peoplesbanknet.com
Address: Codorus Valley Bancorp, Inc.
105 Leader Heights Road,
PO Box 2887,
York,
Pennsylvania, 17405,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM CVLY Common Stock Nasdaq Global Market US USD 23. Oct 1990
Number of employees
Current staff
Staff numbers
346
Codorus Valley Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:34
End of day share price update: 2019/03/18 00:00
Last earnings filing: 2019/03/15
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.