NasdaqGM:CZWI

Stock Analysis Report

Citizens Community Bancorp

Executive Summary

Citizens Community Bancorp, Inc. operates as a holding company for Citizens Community Federal N.A.

Rewards

Earnings are forecast to grow 19.17% per year

Earnings grew by 96% over the past year

Risk Analysis

Shareholders have been substantially diluted in the past year

Unstable dividend track record

Large one-off items impacting financial results



Snowflake Analysis

Excellent balance sheet with proven track record.


Similar Companies

IF Bancorp

NasdaqCM:IROQ

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CZWI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.2%

CZWI

1.1%

US Banks

0.7%

US Market


1 Year Return

4.2%

CZWI

21.0%

US Banks

18.2%

US Market

Return vs Industry: CZWI underperformed the US Banks industry which returned 21% over the past year.

Return vs Market: CZWI underperformed the US Market which returned 18.2% over the past year.


Shareholder returns

CZWIIndustryMarket
7 Day-0.2%1.1%0.7%
30 Day7.4%0.8%1.5%
90 Day10.9%10.5%5.0%
1 Year6.0%4.2%24.6%21.0%20.8%18.2%
3 Year9.0%4.2%31.6%22.4%45.2%35.8%
5 Year42.8%33.6%79.1%59.2%71.6%52.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

21.39x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CZWI ($12.2) is trading above our estimate of fair value ($5.79)

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


Price To Earnings Ratio

PE vs Industry: CZWI is poor value based on its PE Ratio (21.4x) compared to the Banks industry average (12.7x).

PE vs Market: CZWI is poor value based on its PE Ratio (21.4x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: CZWI is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: CZWI is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

19.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CZWI's forecast earnings growth (19.2% per year) is above the savings rate (1.7%).

Earnings vs Market: CZWI's earnings (19.2% per year) are forecast to grow faster than the US market (14.2% per year).

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

Revenue vs Market: CZWI's revenue (5.1% per year) is forecast to grow slower than the US market (7.4% per year).

High Growth Revenue: CZWI's revenue (5.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CZWI's Return on Equity is forecast to be low in 3 years time (8.1%).


Next Steps

Past Performance

How has Citizens Community Bancorp performed over the past 5 years?

24.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CZWI has a large one-off loss of $5.8M impacting its September 30 2019 financial results.

Growing Profit Margin: CZWI's current net profit margins (14.5%) are higher than last year (11.8%).


Past Earnings Growth Analysis

Earnings Trend: CZWI's earnings have grown significantly by 24% per year over the past 5 years.

Accelerating Growth: CZWI's earnings growth over the past year (96%) exceeds its 5-year average (24% per year).

Earnings vs Industry: CZWI earnings growth over the past year (96%) exceeded the Banks industry 27.1%.


Return on Equity

High ROE: CZWI's Return on Equity (5.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Citizens Community 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: CZWI has a low level of unsold assets or inventory.

Debt Coverage by Assets: CZWI's debt is not covered by short term assets (assets are 0.4x debt).


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: CZWI has an appropriate level of bad loans (1.77%)


Next Steps

Dividend

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

1.64%

Current Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Years1.7%

Current dividend yield vs market & industry

Notable Dividend: CZWI's dividend (1.64%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: CZWI's dividend (1.64%) is low compared to the top 25% of dividend payers in the US market (3.7%).


Stability and Growth of Payments

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

Growing Dividend: CZWI's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.1%), CZWI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CZWI's dividends in 3 years are forecast to be well covered by earnings (17.3% payout ratio).


Next Steps

Management

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

2.2yrs

Average management tenure


CEO

Steve Bianchi (56yo)

3.5yrs

Tenure

US$547,397

Compensation

Mr. Stephen M. Bianchi, also known as Steve, has been the Chief Executive Officer and President of Citizens Community Bancorp, Inc. and Citizens Community Federal since June 24, 2016. He has been Chairman  ...


CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD547.40K) is about average for companies of similar size in the US market ($USD502.49K).

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


Management Age and Tenure

2.2yrs

Average Tenure

Experienced Management: CZWI's management team is considered experienced (2.2 years average tenure).


Board Age and Tenure

1.8yrs

Average Tenure

66yo

Average Age

Experienced Board: CZWI's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: CZWI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$3,99804 Dec 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares334
Max PriceUS$12.05
BuyUS$2,39027 Nov 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares200
Max PriceUS$11.95
BuyUS$2,66627 Nov 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares225
Max PriceUS$11.85
BuyUS$7,17027 Nov 19
James Broucek
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares600
Max PriceUS$11.95
BuyUS$8,22925 Nov 19
James Broucek
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares693
Max PriceUS$11.91
BuyUS$2,95025 Nov 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares250
Max PriceUS$11.80
BuyUS$5,45003 Sep 19
James Broucek
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares500
Max PriceUS$10.90
BuyUS$7,63203 Sep 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares700
Max PriceUS$11.00
BuyUS$4,38420 Aug 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares400
Max PriceUS$10.96
BuyUS$2,73519 Aug 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares250
Max PriceUS$10.94
BuyUS$8,18319 Aug 19
James Broucek
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares750
Max PriceUS$10.91
BuyUS$3,28515 Aug 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares300
Max PriceUS$10.95
BuyUS$4,34808 Aug 19
Stephen Bianchi
EntityIndividual
Role
Chief Executive Officer
Chairman of the Board
Shares400
Max PriceUS$10.89
BuyUS$2,72306 Aug 19
James Broucek
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares251
Max PriceUS$10.85

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 147.6%.


Management Team

  • James Broucek (55yo)

    Executive VP

    • Tenure: 2.2yrs
    • Compensation: US$280.45k
  • Steve Bianchi (56yo)

    Chairman of the Board

    • Tenure: 3.5yrs
    • Compensation: US$547.40k
  • Mike Dietsch

    Community Bank President of Faribault

    • Tenure: 0.8yrs

Board Members

  • Jim Moll (69yo)

    Independent Director

    • Tenure: 1.9yrs
    • Compensation: US$32.75k
  • Richard McHugh (76yo)

    Lead Director

    • Tenure: 1.2yrs
    • Compensation: US$36.74k
  • Kathleen Skarvan (63yo)

    Director

    • Tenure: 0yrs
  • Mike Swenson (68yo)

    Independent Director

    • Tenure: 8.6yrs
    • Compensation: US$29.74k
  • Steve Bianchi (56yo)

    Chairman of the Board

    • Tenure: 3.5yrs
    • Compensation: US$547.40k
  • James Lang (75yo)

    Independent Director

    • Tenure: 7.1yrs
    • Compensation: US$29.24k
  • Fran Felber (66yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: US$45.50k
  • Timothy Olson (59yo)

    Outside Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$29.24k
  • Kristina Bourget (54yo)

    Outside Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$21.00k
  • Michael Conner

    Director

    • Tenure: 0yrs

Company Information

Citizens Community Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Citizens Community Bancorp, Inc.
  • Ticker: CZWI
  • Exchange: NasdaqGM
  • Founded: 1938
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$137.491m
  • Shares outstanding: 11.27m
  • Website: https://www.ccf.us

Number of Employees


Location

  • Citizens Community Bancorp, Inc.
  • 2174 Eastridge Center
  • Eau Claire
  • Wisconsin
  • 54701
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CZWINasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDMar 2004

Biography

Citizens Community Bancorp, Inc. operates as a holding company for Citizens Community Federal N.A. that provides various consumer, commercial, and agricultural banking products and services in Wisconsin, M ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/09 23:52
End of Day Share Price2019/12/09 00:00
Earnings2019/09/30
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.