NasdaqCM:EMCF

Stock Analysis Report

Executive Summary

Emclaire Financial Corp operates as the bank holding company for The Farmers National Bank of Emlenton that provides retail and commercial financial products and services to individuals and businesses in western Pennsylvania.

Snowflake

Fundamentals

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Emclaire Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.6%

EMCF

2.7%

US Banks

0.4%

US Market


1 Year Return

-12.5%

EMCF

2.7%

US Banks

6.9%

US Market

Return vs Industry: EMCF underperformed the US Banks industry which returned 2.7% over the past year.

Return vs Market: EMCF underperformed the US Market which returned 6.9% over the past year.


Shareholder returns

EMCFIndustryMarket
7 Day0.6%2.7%0.4%
30 Day-8.8%0.2%-1.2%
90 Day-3.8%2.9%-0.4%
1 Year-9.3%-12.5%5.7%2.7%9.3%6.9%
3 Year39.9%25.5%52.1%41.6%45.8%36.4%
5 Year51.4%25.3%69.2%50.7%62.9%45.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Emclaire Financial undervalued compared to its fair value and its price relative to the market?

14.56x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: EMCF ($30.77) is trading above our estimate of fair value ($22.49)

Significantly Undervalued: EMCF is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: EMCF is poor value based on its PE Ratio (14.6x) compared to the Banks industry average (12.6x).

PE vs Market: EMCF is good value based on its PE Ratio (14.6x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: EMCF is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EMCF's forecast earnings growth (9.8% per year) is above the savings rate (2.7%).

Earnings vs Market: EMCF's earnings (9.8% per year) are forecast to grow slower than the US market (14.5% per year).

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

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

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


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Emclaire Financial performed over the past 5 years?

6.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: EMCF's earnings have grown by 6% per year over the past 5 years.

Accelerating Growth: EMCF's earnings growth over the past year (8.3%) exceeds its 5-year average (6% per year).

Earnings vs Industry: EMCF earnings growth over the past year (8.3%) underperformed the Banks industry 29.6%.


Return on Equity

High ROE: EMCF's Return on Equity (6.7%) is considered low.


Return on Assets

ROA vs Industry: EMCF's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Emclaire Financial'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: EMCF has a low level of unsold assets or inventory.

Debt Coverage by Assets: EMCF's debt is covered by short term assets (assets are 1.597180x debt).


Financial Institutions Analysis

Asset Level: EMCF's level of assets compared to its equity is moderate.

Allowance for Bad Loans: EMCF has a sufficient allowance for bad loans.

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

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

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

Level of Bad Loans: EMCF has an appropriate level of bad loans (0.86%)


Next Steps

Dividend

What is Emclaire Financial's current dividend yield, its reliability and sustainability?

3.77%

Current Dividend Yield


Dividend Yield vs Market

company3.8%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: EMCF's dividend (3.77%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: EMCF's dividend (3.77%) is in the top 25% of dividend payers in the US market (3.73%)

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.9%), EMCF's dividend payments are 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 Emclaire Financial's salary, the management and board of directors tenure and is there insider trading?

6.5yrs

Average management tenure


CEO

Bill Marsh (52yo)

10.8yrs

Tenure

US$665,758

Compensation

Mr. William C. Marsh, also known as Bill, has been the Chairman of the Board, Chief Executive Officer and President of Emclaire Financial Corp. since January 1, 2009. Mr. Marsh has been the Chairman of the ...


CEO Compensation Analysis

Compensation vs. Market: Bill's total compensation ($USD665.76K) is about average for companies of similar size in the US market ($USD491.38K).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.


Management Age and Tenure

6.5yrs

Average Tenure

52yo

Average Age

Experienced Management: EMCF's management team is seasoned and experienced (6.5 years average tenure).


Board Age and Tenure

10.8yrs

Average Tenure

60yo

Average Age

Experienced Board: EMCF's board of directors are seasoned and experienced ( 10.8 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyUS$322,49820 Aug 19
Robert Freeman
EntityIndividual
Role
Member of the Board of Directors
Director
Shares9,923
Max PriceUS$32.50
BuyUS$3,13515 Jul 19
Milissa Bauer
EntityIndividual
Role
Member of the Board of Directors
Director
Shares100
Max PriceUS$31.35
BuyUS$9,96705 Jun 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares310
Max PriceUS$32.15
BuyUS$19,90831 May 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares630
Max PriceUS$31.60
BuyUS$3,15029 May 19
James Crooks
EntityIndividual
Role
Member of the Board of Directors
Director
Shares100
Max PriceUS$31.50
BuyUS$9,95429 May 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares316
Max PriceUS$31.50
BuyUS$2,96624 May 19
James Crooks
EntityIndividual
Role
Member of the Board of Directors
Director
Shares94
Max PriceUS$31.55
BuyUS$9,95424 May 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares314
Max PriceUS$31.70
BuyUS$19,90223 May 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares633
Max PriceUS$31.78
BuyUS$19,91925 Mar 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares637
Max PriceUS$31.34
BuyUS$9,95521 Mar 19
Deanna McCarrier
EntityIndividual
Role
Member of the Board of Directors
Director
Shares320
Max PriceUS$31.11
BuyUS$62,28618 Dec 18
Henry Deible
EntityIndividual
Shares2,004
Max PriceUS$32.10
BuyUS$155,43818 Dec 18
Milissa Bauer
EntityIndividual
Role
Member of the Board of Directors
Director
Shares5,130
Max PriceUS$30.79
BuyUS$19,20018 Dec 18
Milissa Bauer
EntityIndividual
Role
Member of the Board of Directors
Director
Shares600
Max PriceUS$32.00

Ownership Breakdown


Management Team

  • Bill Marsh (52yo)

    Chairman

    • Tenure: 10.8yrs
    • Compensation: US$665.76k
  • David Cox (68yo)

    Vice Chairman of the Board

    • Tenure: 10.8yrs
    • Compensation: US$80.50k
  • Andrew Hogue

    Assistant Vice President of Compliance & Security of The Farmers National Bank of Emlenton

    • Tenure: 0yrs
  • Robert Foust

    Senior Vice President of Corporate Banking - The Farmers National Bank of Emlenton

    • Tenure: 0yrs
  • Kathy Buzzard

    Senior Vice President of Operations - The Farmers National Bank of Emlenton

    • Tenure: 12.8yrs
  • Jennifer Poulsen (49yo)

    Secretary & COO

    • Tenure: 0yrs
    • Compensation: US$283.68k
  • Amanda Engles (41yo)

    CFO & Treasurer

    • Tenure: 2.3yrs
  • Bob Vernick (52yo)

    Chief Lending & Business Development Officer and Senior VP

    • Tenure: 0yrs
    • Compensation: US$238.70k
  • Eric Gantz

    SVP & Chief Credit Officer

    • Tenure: 0.5yrs

Board Members

  • Bill Marsh (52yo)

    Chairman

    • Tenure: 10.8yrs
    • Compensation: US$665.76k
  • David Cox (68yo)

    Vice Chairman of the Board

    • Tenure: 10.8yrs
    • Compensation: US$80.50k
  • John Mason (70yo)

    Director

    • Tenure: 30.8yrs
    • Compensation: US$54.50k
  • Robert Hunter (77yo)

    Director

    • Tenure: 30.8yrs
    • Compensation: US$51.50k
  • Mark Freemer (59yo)

    Director

    • Tenure: 15yrs
    • Compensation: US$53.10k
  • James Crooks (66yo)

    Director

    • Tenure: 15yrs
    • Compensation: US$53.10k
  • Nicholas Varischetti (35yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: US$47.95k
  • Milissa Bauer (56yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: US$50.35k
  • Robert Freeman (61yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: US$50.50k
  • Deanna McCarrier (55yo)

    Director

    • Tenure: 3yrs
    • Compensation: US$51.70k

Company Information

Emclaire Financial Corp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Emclaire Financial Corp
  • Ticker: EMCF
  • Exchange: NasdaqCM
  • Founded: 1900
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$83.039m
  • Shares outstanding: 2.70m
  • Website: https://www.emclairefinancial.com

Number of Employees


Location

  • Emclaire Financial Corp
  • 612 Main Street
  • Emlenton
  • Pennsylvania
  • 16373
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EMCFNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDDec 1996

Biography

Emclaire Financial Corp operates as the bank holding company for The Farmers National Bank of Emlenton that provides retail and commercial financial products and services to individuals and businesses in w ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 23:34
End of Day Share Price2019/10/14 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.