NasdaqCM:ESBK

Stock Analysis Report

Executive Summary

Elmira Savings Bank provides banking products and services to individual and commercial customers.

Rewards

PE ratio (16.4x) is below the US market (18.4x)

Pays a reliable dividend of 5.64%

Risk Analysis

Dividend of 5.64% is not well covered by earnings

Does not have a meaningful market cap ($57M)



Snowflake Analysis

Excellent balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Elmira Savings Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.1%

ESBK

-1.9%

US Mortgage

1.5%

US Market


1 Year Return

-9.6%

ESBK

7.3%

US Mortgage

20.1%

US Market

Return vs Industry: ESBK underperformed the US Mortgage industry which returned 7.3% over the past year.

Return vs Market: ESBK underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

ESBKIndustryMarket
7 Day-1.1%-1.9%1.5%
30 Day-0.8%-1.6%1.4%
90 Day13.0%-2.1%8.7%
1 Year-4.2%-9.6%9.8%7.3%22.7%20.1%
3 Year-7.6%-20.3%19.1%10.7%50.1%40.5%
5 Year3.1%-18.9%60.4%42.6%73.1%54.1%

Price Volatility Vs. Market

How volatile is Elmira Savings Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Elmira Savings Bank undervalued compared to its fair value and its price relative to the market?

16.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ESBK ($16.33) is trading above our estimate of fair value ($14.18)

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


Price To Earnings Ratio

PE vs Industry: ESBK is poor value based on its PE Ratio (16.4x) compared to the Mortgage industry average (13.7x).

PE vs Market: ESBK is good value based on its PE Ratio (16.4x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ESBK is overvalued based on its PB Ratio (1.2x) compared to the US Mortgage industry average (1.1x).


Next Steps

Future Growth

How is Elmira Savings Bank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

6.4%

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 Elmira Savings Bank 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 Elmira Savings Bank performed over the past 5 years?

7.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ESBK has high quality earnings.

Growing Profit Margin: ESBK's current net profit margins (17%) are lower than last year (20.5%).


Past Earnings Growth Analysis

Earnings Trend: ESBK's earnings have grown by 7.2% per year over the past 5 years.

Accelerating Growth: ESBK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ESBK had negative earnings growth (-17.8%) over the past year, making it difficult to compare to the Mortgage industry average (11.1%).


Return on Equity

High ROE: ESBK's Return on Equity (6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Elmira Savings Bank'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: ESBK has a low level of unsold assets or inventory.

Debt Coverage by Assets: ESBK's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: ESBK has an appropriate level of bad loans (0.93%)


Next Steps

Dividend

What is Elmira Savings Bank's current dividend yield, its reliability and sustainability?

5.64%

Current Dividend Yield


Dividend Yield vs Market

company5.6%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: ESBK's dividend (5.64%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: ESBK's dividend (5.64%) is in the top 25% of dividend payers in the US market (3.69%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (92.2%), ESBK's dividend payments are not 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?

4.6yrs

Average management tenure


CEO

Tom Carr (49yo)

5.6yrs

Tenure

US$552,419

Compensation

Mr. Thomas M. Carr, also known as Tom has served as Chief Executive Officer of Elmira Savings Bank (the “Bank”) since July 2014 and as President of the Bank since April 2013. Mr. Carr had served as the Ban ...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD552.42K) is about average for companies of similar size in the US market ($USD521.92K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Carr
President5.6yrsUS$552.42k4.89% $2.8m
John Alexander
Vice Chairman & Corporate Secretary5.6yrsUS$43.08k2.53% $1.4m
Jason Sanford
Senior VP of Finance & CFO10.8yrsUS$220.26k0.41% $233.2k
Kevin Berkley
Executive VP of Lending & Senior Loan Officer0yrsUS$254.05k0.97% $551.5k
Margaret Phillips
Vice President of Operations0yrsno datano data
Meredith Tigue
Vice President of Compliance2.1yrsno datano data
Bradley Serva
Senior Vice President of Human Resources3.6yrsno datano data
Donna Tangorre
Senior VP & Branch Administrator of Retail Services6.6yrsno data0.24% $135.3k
Gary Short
Senior Vice President of Lending0yrsno data0.98% $555.8k
Christopher Giammichele
Senior Vice President of Lending3.1yrsno datano data

4.6yrs

Average Tenure

56.5yo

Average Age

Experienced Management: ESBK's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Carr
President5.6yrsUS$552.42k4.89% $2.8m
John Alexander
Vice Chairman & Corporate Secretary5.6yrsUS$43.08k2.53% $1.4m
Michael Hosey
Chairman of the Board5.6yrsUS$60.50k4.78% $2.7m
A. Welliver
Independent Director25.1yrsUS$42.30k1.84% $1.0m
Kristin Swain
Independent Director25.1yrsUS$46.30k0.37% $212.6k
Katherine Roehlke
Independent Director8.1yrsUS$44.25k2.24% $1.3m
Marianne Young
Independent Director8.1yrsUS$42.33k0.50% $283.4k
Donald Quick
Independent Director8.3yrsUS$50.83k0.81% $461.7k
Arie van den Blink
Independent Director8.1yrsUS$44.50k0.15% $84.0k
Jodi J. Edger
Director0.5yrsno datano data

8.1yrs

Average Tenure

61yo

Average Age

Experienced Board: ESBK's board of directors are considered experienced (8.1 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Elmira Savings Bank's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Elmira Savings Bank
  • Ticker: ESBK
  • Exchange: NasdaqCM
  • Founded: 1869
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$56.858m
  • Shares outstanding: 3.48m
  • Website: https://www.elmirasavingsbank.com

Number of Employees


Location

  • Elmira Savings Bank
  • 333 East Water Street
  • Elmira
  • New York
  • 14901
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ESBKNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMay 1986

Biography

Elmira Savings Bank provides banking products and services to individual and commercial customers. It accepts savings and money market accounts, time deposits, retail and commercial checking accounts, certificates of deposit, individual retirement arrangements, and NOW accounts. The company also provides consumer loans comprising auto, truck, and motorcycle loans; personal loans; boats, recreational vehicles, and other outdoor sports equipment loans; home improvement/equity loans; jacuzzi/hot tub/pool loans; and lines of credit. In addition, it offers commercial real estate mortgages, such as permanent and construction mortgages, and development loans; commercial loans, including term and time loans, lines of credit, and small business administration loans; and mortgage loans secured by first and second liens on one-to-four family residences. Further, the company provides debit cards, safe deposit boxes, and financial services products; and financial planning advisory, online and mobile banking, overdraft protection, notary public, funds transfer, merchant, and cash management services. Additionally, it operates a real estate investment trust. The company operates through a network of 13 full-service offices located in Chemung, Tompkins, Cayuga, Schuyler, and Steuben Counties; and 1 limited service office located in Broome County, New York. Elmira Savings Bank was founded in 1869 and is based in Elmira, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 23:40
End of Day Share Price2020/02/14 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.