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 Analysis

Flawless balance sheet, undervalued and pays a dividend.


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

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


Market Performance


7 Day Return

-3.7%

EMCF

6.0%

US Banks

7.2%

US Market


1 Year Return

-22.6%

EMCF

-26.4%

US Banks

-10.4%

US Market

Return vs Industry: EMCF exceeded the US Banks industry which returned -26.9% over the past year.

Return vs Market: EMCF underperformed the US Market which returned -12.7% over the past year.


Shareholder returns

EMCFIndustryMarket
7 Day-3.7%6.0%7.2%
30 Day-19.0%-24.0%-12.6%
90 Day-26.2%-38.0%-19.4%
1 Year-19.6%-22.6%-24.1%-26.4%-8.5%-10.4%
3 Year-9.7%-19.0%-15.8%-21.9%15.8%8.3%
5 Year15.6%-4.5%13.2%0.2%35.8%21.0%

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?

34.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EMCF ($24) is trading below our estimate of fair value ($36.89)

Significantly Below Fair Value: EMCF is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EMCF is good value based on its PE Ratio (8.3x) compared to the Banks industry average (8.8x).

PE vs Market: EMCF is good value based on its PE Ratio (8.3x) compared to the US market (13x).


Price to Earnings Growth Ratio

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 (0.8x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

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

-1.2%

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 Emclaire Financial 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.


Next Steps

Past Performance

How has Emclaire Financial performed over the past 5 years?

9.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EMCF has high quality earnings.

Growing Profit Margin: EMCF's current net profit margins (24.5%) are higher than last year (14.5%).


Past Earnings Growth Analysis

Earnings Trend: EMCF's earnings have grown by 9.9% per year over the past 5 years.

Accelerating Growth: EMCF's earnings growth over the past year (88.6%) exceeds its 5-year average (9.9% per year).

Earnings vs Industry: EMCF earnings growth over the past year (88.6%) exceeded the Banks industry 11%.


Return on Equity

High ROE: EMCF's Return on Equity (9.3%) is considered low.


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 1.3x 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 (0.41%)


Next Steps

Dividend

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

5.00%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: EMCF's dividend (5%) is higher than the bottom 25% of dividend payers in the US market (1.98%).

High Dividend: EMCF's dividend (5%) is low compared to the top 25% of dividend payers in the US market (5.49%).


Stability and Growth of Payments

Stable Dividend: EMCF's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.3%), EMCF's dividend payments are well 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

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

6.9yrs

Average management tenure


CEO

Bill Marsh (52yo)

11.17s

Tenure

US$625,865

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 ($USD625.87K) is about average for companies of similar size in the US market ($USD605.16K).

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


Leadership Team

NamePositionTenureCompensationOwnership
William Marsh
Chairman11.17yrsUS$625.87k1.9% $1.2m
Jennifer Poulsen
Secretary & COOno dataUS$271.69k0.13% $85.0k
Amanda Engles
CFO & Treasurer2.67yrsno data0.23% $149.9k
Eric Gantz
Senior VP & Chief Credit Officer of the Farmers National Bank of Emlenton0.83yrno data0.084% $54.6k
Andrew Hogue
Assistant Vice President of Compliance & Security of The Farmers National Bank of Emlentonno datano datano data
Robert Foust
Senior Vice President of Corporate Banking - The Farmers National Bank of Emlentonno datano datano data
Kathy Buzzard
Senior Vice President of Operations - The Farmers National Bank of Emlenton13.17yrsno datano data

6.9yrs

Average Tenure

45yo

Average Age

Experienced Management: EMCF's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Marsh
Chairman11.17yrsUS$625.87k1.9% $1.2m
David Cox
Independent Vice Chairman of the Board11.17yrsUS$87.52k0.73% $475.9k
John Mason
Independent Director31.17yrsUS$62.67k1.48% $961.0k
Robert Hunter
Independent Director31.17yrsUS$55.52k3.41% $2.2m
Mark Freemer
Independent Director15.42yrsUS$58.67k0.67% $434.4k
James Crooks
Independent Director15.42yrsUS$61.87k1.07% $696.7k
Nicholas Varischetti
Independent Director5.17yrsUS$53.47k1.3% $843.4k
Milissa Bauer
Independent Director5.17yrsUS$58.72k1.26% $816.2k
Robert Freeman
Independent Director5.17yrsUS$56.67k2.17% $1.4m
Deanna McCarrier
Independent Director3.42yrsUS$58.27k0.79% $514.9k

11.2yrs

Average Tenure

60yo

Average Age

Experienced Board: EMCF's board of directors are seasoned and experienced ( 11.2 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.6%.


Top Shareholders

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$65.009m
  • Shares outstanding: 2.71m
  • 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 western Pennsylvania. The company’s deposit products include checking, savings, and term certificate accounts; time deposits; noninterest bearing and interest bearing demand deposit accounts; and money market accounts. Its loan portfolio comprises one-to-four family mortgage loans, residential and commercial mortgages loans, home equity loans, and commercial business and commercial real estate loans; and consumer loans, such as loans for automobile purchases, home improvements not secured by real estate, capital, and other personal expenditures, as well as unsecured revolving personal lines of credit and overdraft protection. The company, through its subsidiary, Emclaire Settlement Services, LLC, also provides real estate settlement services. As of February 20, 2019, it operated 20 full service offices in Venango, Allegheny, Butler, Clarion, Clearfield, Crawford, Elk, Jefferson, and Mercer counties in Pennsylvania, as well as in Hancock County, West Virginia. The company was founded in 1900 and is headquartered in Emlenton, Pennsylvania. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 01:50
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.