Announcement • Jan 04
Emclaire Financial Corp(NasdaqCM:EMCF) dropped from NASDAQ Composite Index Emclaire Financial Corp removed. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 16 December 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.0%). Announcement • Nov 17
Emclaire Financial Corp Announces Quarterly Dividend, Payable on December 16, 2022 The Board of Directors of Emclaire Financial Corp. declared a quarterly cash dividend on November 16, 2022 of $0.31 per common share payable on December 16, 2022, to shareholders of record on December 1, 2022. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: US$1.10 (vs US$1.24 in 3Q 2021) Third quarter 2022 results: EPS: US$1.10 (down from US$1.24 in 3Q 2021). Revenue: US$9.30m (down 5.7% from 3Q 2021). Net income: US$3.01m (down 11% from 3Q 2021). Profit margin: 32% (down from 34% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Steve Hunter was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 22% share price gain to US$38.50, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 10x in the Banks industry in the US. Total returns to shareholders of 40% over the past three years. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 31 August 2022. Payment date: 23 September 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of American dividend payers (4.1%). Higher than average of industry peers (3.1%). Announcement • Aug 18
Emclaire Financial Corp Announces Quarterly Dividend, Payable on September 23, 2022 The Board of Directors of Emclaire Financial Corp. declared a quarterly cash dividend on August 17, 2022 of $0.31 per common share payable on September 23, 2022, to shareholders of record on September 1, 2022. This quarterly dividend reflects an annualized dividend yield of 3.7% based on the stock’s closing price of $33.80 per share on August 16, 2022. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: US$0.78 (vs US$0.68 in 2Q 2021) Second quarter 2022 results: EPS: US$0.78 (up from US$0.68 in 2Q 2021). Revenue: US$8.67m (up 7.8% from 2Q 2021). Net income: US$2.14m (up 16% from 2Q 2021). Profit margin: 25% (up from 23% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 24
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 17 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.0%). Higher than average of industry peers (2.9%). Announcement • May 19
Emclaire Financial Corp Announces Quarterly Dividend, Payable on June 17, 2022 The Board of Directors of Emclaire Financial Corp. declared a quarterly cash dividend on May 18, 2022 of $0.31 per common share payable on June 17, 2022, to shareholders of record on June 1, 2022. Reported Earnings • May 03
First quarter 2022 earnings released: EPS: US$0.89 (vs US$0.80 in 1Q 2021) First quarter 2022 results: EPS: US$0.89 (up from US$0.80 in 1Q 2021). Revenue: US$8.83m (up 4.7% from 1Q 2021). Net income: US$2.44m (up 12% from 1Q 2021). Profit margin: 28% (up from 26% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Steve Hunter was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.66 (up from US$2.42 in FY 2020). Revenue: US$35.0m (up 16% from FY 2020). Net income: US$9.98m (up 52% from FY 2020). Profit margin: 28% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.15% (down from 3.16% in FY 2020). Non-performing loans: 0.42% (down from 0.51% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.31 per share Eligible shareholders must have bought the stock before 28 February 2022. Payment date: 18 March 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.3%). Announcement • Feb 17
Emclaire Financial Corp Declares Quarterly Cash Dividend, Payable on March 18, 2022 The Board of Directors of Emclaire Financial Corp. declared a quarterly cash dividend on February 16, 2022 of $0.31 per common share payable on March 18, 2022, to shareholders of record on March 1, 2022. The $0.31 per share quarterly dividend represents a 3.3% increase from the $0.30 per common share dividend declared and paid each quarter during 2021. Reported Earnings • Jan 31
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.66 (up from US$2.42 in FY 2020). Revenue: US$35.0m (up 16% from FY 2020). Net income: US$9.98m (up 52% from FY 2020). Profit margin: 28% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 30 November 2021. Payment date: 17 December 2021. Trailing yield: 4.1%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.3%). Board Change • Nov 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. Independent Director Steve Hunter was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS US$1.24 (vs US$0.66 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$9.86m (up 29% from 3Q 2020). Net income: US$3.38m (up 88% from 3Q 2020). Profit margin: 34% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 17 September 2021. Trailing yield: 4.3%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS US$0.68 (vs US$0.44 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$8.05m (up 12% from 2Q 2020). Net income: US$1.84m (up 53% from 2Q 2020). Profit margin: 23% (up from 17% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • May 21
Emclaire Financial Corp Declares Quarterly Dividend, Payable on June 18, 2021 The Board of Directors of Emclaire Financial Corp. declared a quarterly cash dividend on May 19, 2021 of $0.30 per common share payable on June 18, 2021, to shareholders of record on June 1, 2021. This quarterly dividend reflects an annualized dividend yield of 4.3% based on the stock’s closing price of $28.00 per share on May 18, 2021. Recent Insider Transactions • May 06
Independent Director recently bought US$594k worth of stock On the 4th of May, Nicholas Varischetti bought around 22k shares on-market at roughly US$27.30 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.0m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 26
First quarter 2021 earnings released: EPS US$0.80 (vs US$0.44 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$8.43m (up 22% from 1Q 2020). Net income: US$2.17m (up 83% from 1Q 2020). Profit margin: 26% (up from 17% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 20
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$30.2m (down 4.8% from FY 2019). Net income: US$6.56m (down 16% from FY 2019). Profit margin: 22% (down from 25% in FY 2019). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 3.16% (down from 3.35% in FY 2019). Non-performing loans: 0.51% (up from 0.41% in FY 2019). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS US$2.42 (vs US$2.88 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$30.2m (down 4.8% from FY 2019). Net income: US$6.56m (down 16% from FY 2019). Profit margin: 22% (down from 25% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jan 30
Emclaire Financial Corp, Annual General Meeting, Apr 21, 2021 Emclaire Financial Corp, Annual General Meeting, Apr 21, 2021, at 09:00 US Eastern Standard Time. Announcement • Dec 20
Emclaire Financial Corp Appoints Steven J. Hunter to the Board of Directors, Effective on January 1, 2021 As previously reported, on December 16, 2020, the Board of Directors of Emclaire Financial Corp. appointed Steven J. Hunter to the Board of Directors of the company, effective on January 1, 2021. However, under the Bylaws of the company, Steven Hunter will fill a vacancy on the Board and serve an initial term as director until the company’s annual meeting of shareholders to be held in April 2023. Is New 90 Day High Low • Dec 17
New 90-day high: US$28.49 The company is up 6.0% from its price of US$27.00 on 18 September 2020. The American market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 24% over the same period. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 16% share price gain to US$28.49, the stock is trading at a trailing P/E ratio of 13.6x, up from the previous P/E ratio of 11.7x. This compares to an average P/E of 12x in the Banks industry in the US. Total returns to shareholders over the past three years are 2.8%. Upcoming Dividend • Nov 24
Upcoming Dividend of US$0.30 Per Share Will be paid on the 18th of December to those who are registered shareholders by the 30th of November. The trailing yield of 4.8% is in the top quartile of American dividend payers (4.2%), and it is higher than industry peers (3.1%). Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of US$5.66m, down 13% from the prior year. Total revenue was US$29.1m over the last 12 months, down 11% from the prior year. Is New 90 Day High Low • Sep 19
New 90-day high: US$27.00 The company is up 3.0% from its price of US$26.10 on 19 June 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is down 3.0% over the same period.