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Hawthorn Bancshares

Nasdaq:HWBK
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HWBK
Nasdaq
$143M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Hawthorn Bancshares, Inc. operates as the bank holding company for Hawthorn Bank that provides various banking services in Missouri. The last earnings update was 10 days ago. More info.


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HWBK Share Price and Events
7 Day Returns
3.7%
NasdaqGS:HWBK
-2.6%
US Banks
-1%
US Market
1 Year Returns
6.4%
NasdaqGS:HWBK
-14.2%
US Banks
-0.4%
US Market
HWBK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hawthorn Bancshares (HWBK) 3.7% -13% -13% 6.4% 80.3% 112.8%
US Banks -2.6% -6.3% -3.5% -14.2% 32.4% 36.7%
US Market -1% -3.3% 0.8% -0.4% 30.4% 37.1%
1 Year Return vs Industry and Market
  • HWBK outperformed the Banks industry which returned -14.2% over the past year.
  • HWBK outperformed the Market in United States of America which returned -0.4% over the past year.
Price Volatility
HWBK
Industry
5yr Volatility vs Market

Value

 Is Hawthorn Bancshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hawthorn Bancshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hawthorn Bancshares.

NasdaqGS:HWBK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $14.87 * 7.9%
$1.18
Book Value of Equity per Share Median Book Value from the past 5 years. $14.87
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:HWBK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.565 (1 + (1- 21%) (113.55%))
1.049
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.049 * 5.96%)
8.98%

Discounted Cash Flow Calculation for NasdaqGS:HWBK using Excess Returns Model Model

The calculations below outline how an intrinsic value for Hawthorn Bancshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:HWBK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.9% – 8.98%) * $14.87)
$-0.16
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.16 / (8.98% - 2.73%)
$-2.50
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $14.87 + $-2.50
$12.37
NasdaqGS:HWBK Discount to Share Price
Calculation Result
Value per share (USD) From above. $12.37
Current discount Discount to share price of $22.76
= -1 x ($22.76 - $12.37) / $12.37
-84%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Hawthorn Bancshares is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hawthorn Bancshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hawthorn Bancshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:HWBK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $2.22
NasdaqGS:HWBK Share Price ** NasdaqGS (2019-08-16) in USD $22.76
United States of America Banks Industry PE Ratio Median Figure of 598 Publicly-Listed Banks Companies 12.29x
United States of America Market PE Ratio Median Figure of 3,096 Publicly-Listed Companies 17.26x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hawthorn Bancshares.

NasdaqGS:HWBK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:HWBK Share Price ÷ EPS (both in USD)

= 22.76 ÷ 2.22

10.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hawthorn Bancshares is good value based on earnings compared to the US Banks industry average.
  • Hawthorn Bancshares is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Hawthorn Bancshares's expected growth come at a high price?
Raw Data
NasdaqGS:HWBK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
2.1%per year
United States of America Banks Industry PEG Ratio Median Figure of 274 Publicly-Listed Banks Companies 1.12x
United States of America Market PEG Ratio Median Figure of 2,126 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Hawthorn Bancshares, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hawthorn Bancshares's assets?
Raw Data
NasdaqGS:HWBK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $17.43
NasdaqGS:HWBK Share Price * NasdaqGS (2019-08-16) in USD $22.76
United States of America Banks Industry PB Ratio Median Figure of 601 Publicly-Listed Banks Companies 1.16x
United States of America Market PB Ratio Median Figure of 5,273 Publicly-Listed Companies 1.7x
NasdaqGS:HWBK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:HWBK Share Price ÷ Book Value per Share (both in USD)

= 22.76 ÷ 17.43

1.31x

* Primary Listing of Hawthorn Bancshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hawthorn Bancshares is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Hawthorn Bancshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Hawthorn Bancshares has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Hawthorn Bancshares expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Hawthorn Bancshares, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hawthorn Bancshares expected to grow at an attractive rate?
  • Hawthorn Bancshares's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Hawthorn Bancshares's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Hawthorn Bancshares's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:HWBK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:HWBK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 2.1%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.5%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:HWBK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:HWBK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 57 19 14
2019-03-31 56 18 13
2018-12-31 53 16 11
2018-09-30 52 15 6
2018-06-30 51 14 4
2018-03-31 50 13 3
2017-12-31 50 12 3
2017-09-30 50 13 8
2017-06-30 49 14 8
2017-03-31 48 12 7
2016-12-31 48 14 7
2016-09-30 48 11 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hawthorn Bancshares's earnings are expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Hawthorn Bancshares is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:HWBK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Hawthorn Bancshares Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:HWBK Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 2.22
2019-03-31 2.12
2018-12-31 1.71
2018-09-30 0.91
2018-06-30 0.70
2018-03-31 0.54
2017-12-31 0.54
2017-09-30 1.23
2017-06-30 1.25
2017-03-31 1.17
2016-12-31 1.15
2016-09-30 1.15

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Hawthorn Bancshares will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Hawthorn Bancshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hawthorn Bancshares has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Hawthorn Bancshares performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hawthorn Bancshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hawthorn Bancshares's year on year earnings growth rate has been positive over the past 5 years.
  • Hawthorn Bancshares's 1-year earnings growth exceeds its 5-year average (216.6% vs 4%)
  • Hawthorn Bancshares's earnings growth has exceeded the US Banks industry average in the past year (216.6% vs 33.3%).
Earnings and Revenue History
Hawthorn Bancshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hawthorn Bancshares Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:HWBK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 56.55 13.90 30.16
2019-03-31 55.59 13.29 30.38
2018-12-31 52.71 10.71 30.96
2018-09-30 51.88 5.72 30.92
2018-06-30 50.83 4.39 30.87
2018-03-31 50.34 3.40 30.44
2017-12-31 50.12 3.41 29.51
2017-09-30 49.84 7.77 28.95
2017-06-30 49.43 7.89 28.12
2017-03-31 48.34 7.38 27.86
2016-12-31 47.84 7.28 27.62
2016-09-30 48.13 7.29 27.58
2016-06-30 49.05 7.94 27.86
2016-03-31 49.75 8.46 27.91
2015-12-31 49.67 8.60 27.88
2015-09-30 49.22 8.61 27.65
2015-06-30 48.59 7.63 27.95
2015-03-31 48.43 7.81 27.60
2014-12-31 48.20 7.65 27.33
2014-09-30 48.25 7.38 27.48
2014-06-30 48.29 7.38 26.70
2014-03-31 48.16 6.78 26.71
2013-12-31 48.16 4.36 26.57
2013-09-30 47.69 4.53 26.14
2013-06-30 43.48 1.09 25.98
2013-03-31 42.69 -0.36 25.83
2012-12-31 42.57 1.04 25.89
2012-09-30 38.12 -2.38 25.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Hawthorn Bancshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hawthorn Bancshares used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Hawthorn Bancshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Hawthorn Bancshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hawthorn Bancshares has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Hawthorn Bancshares's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Hawthorn Bancshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hawthorn Bancshares Company Filings, last reported 1 month ago.

NasdaqGS:HWBK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 109.38 159.86 41.61
2019-03-31 104.87 166.68 103.46
2018-12-31 99.41 169.29 52.53
2018-09-30 94.87 160.86 49.06
2018-06-30 93.13 159.86 61.53
2018-03-31 91.27 168.61 86.22
2017-12-31 91.37 198.43 64.54
2017-09-30 96.07 171.45 60.43
2017-06-30 95.15 193.97 61.33
2017-03-31 93.08 172.90 23.17
2016-12-31 91.02 173.89 25.40
2016-09-30 92.79 156.99 38.89
2016-06-30 91.74 159.18 37.03
2016-03-31 89.85 141.01 42.77
2015-12-31 87.29 156.32 26.78
2015-09-30 87.07 157.25 32.13
2015-06-30 83.79 122.33 33.34
2015-03-31 82.96 111.85 35.76
2014-12-31 80.57 110.46 41.21
2014-09-30 80.52 104.03 24.78
2014-06-30 79.53 96.34 34.24
2014-03-31 76.68 94.25 41.23
2013-12-31 74.38 104.57 27.14
2013-09-30 71.83 98.51 25.77
2013-06-30 70.60 100.02 35.71
2013-03-31 90.91 87.10 43.86
2012-12-31 92.22 90.67 57.48
2012-09-30 90.43 101.81 20.29
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Hawthorn Bancshares has an acceptable proportion of non-loan assets held.
  • Hawthorn Bancshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at Hawthorn Bancshares are broadly funded by customer deposits.
  • Hawthorn Bancshares's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Hawthorn Bancshares has a sufficient allowance for bad loans.
  • Hawthorn Bancshares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Hawthorn Bancshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hawthorn Bancshares has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Hawthorn Bancshares's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.11%
Current annual income from Hawthorn Bancshares dividends.
If you bought $2,000 of Hawthorn Bancshares shares you are expected to receive $42 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Hawthorn Bancshares's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • Hawthorn Bancshares's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).
Upcoming dividend payment

Purchase Hawthorn Bancshares before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:HWBK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 481 Stocks 3.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2010 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:HWBK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-07 0.480 2.142
2019-05-09 0.462 1.791
2019-01-31 0.385 1.711
2018-11-07 0.385 1.775
2018-08-08 0.385 1.740
2018-05-11 0.370 1.778
2018-01-23 0.259 1.337
2017-11-09 0.259 1.363
2017-08-09 0.259 1.376
2017-05-11 0.259 1.385
2017-01-31 0.213 1.208
2016-11-10 0.213 1.403
2016-08-12 0.178 1.388
2016-05-16 0.171 1.383
2016-02-04 0.171 1.353
2015-11-16 0.171 1.318
2015-08-07 0.171 1.458
2015-05-15 0.164 1.382
2015-03-06 0.164 1.466
2014-11-10 0.164 1.403
2014-08-07 0.164 1.505
2014-05-09 0.158 1.515
2014-02-14 0.158 1.505
2013-11-07 0.158 1.562
2013-08-09 0.158 1.449
2013-05-13 0.152 1.577
2013-02-14 0.152 1.778
2012-11-12 0.152 2.460
2012-08-09 0.152 2.235
2012-05-10 0.146 2.103
2012-02-15 0.146 2.608
2011-11-10 0.146 3.176
2011-08-11 0.146 2.922
2011-05-16 0.140 2.505
2011-02-17 0.140 2.282
2010-11-04 0.140 2.223
2010-08-31 0.140 2.095
2010-08-13 0.135 1.997
2010-08-10 0.135 1.767
2010-05-19 0.135 1.613
2010-02-10 0.297 3.618
2009-11-05 0.297 4.527
2009-08-06 0.297 4.407
2009-08-03 0.286 4.138
2009-05-29 0.286 4.154
2009-02-12 0.546 7.494
2008-11-06 0.546 5.034

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Hawthorn Bancshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Hawthorn Bancshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hawthorn Bancshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hawthorn Bancshares has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Hawthorn Bancshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Turner
COMPENSATION $645,789
AGE 62
TENURE AS CEO 8.6 years
CEO Bio

Mr. David T. Turner has been the Chairman and Chief Executive Officer of Hawthorn Bancshares, Inc. since January 1, 2011. Mr. Turner has been the President of Hawthorn Bancshares, Inc. since March 2002. He has been the President of Hawthorn Bank since January 2010. He serves as the Chairman and Chief Executive Officer of Hawthorn Bank. He served as Chief Operations Officer of Hawthorn Bank since January 1, 2010. Mr. Turner served as Chairman and Chief Executive Officer of Hawthorn Bank (Exchange National Bank) since March 2002. Mr. Turner served as Co-President of Hawthorn Bancshares, Inc. From 1993 to June 1998, he served as Senior Vice President of Hawthorn Bancshares, Inc. He served as a Senior Vice President of The Exchange National Bank from June 1992 to December 1996 and as Vice President from 1985 to June 1992. He served as Vice Chairman of Hawthorn Bancshares, Inc. from June 1998 to March 2002. He has been a Director of Hawthorn Bancshares, Inc. and Hawthorn Bank since January 1997. Mr. Turner served as a Director of The Exchange National Bank and of Citizens Union State Bank since April 2002.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Hawthorn Bancshares management team in years:

7.6
Average Tenure
62
Average Age
  • The average tenure for the Hawthorn Bancshares management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Turner

TITLE
Chairman
COMPENSATION
$646K
AGE
62
TENURE
8.6 yrs

W. Phelps

TITLE
Chief Financial Officer
COMPENSATION
$268K
AGE
68
TENURE
7.6 yrs

Kathleen Bruegenhemke

TITLE
Senior VP
COMPENSATION
$255K
AGE
53
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure and age of the Hawthorn Bancshares board of directors in years:

5
Average Tenure
62.5
Average Age
  • The tenure for the Hawthorn Bancshares board of directors is about average.
Board of Directors

Kathleen Bruegenhemke

TITLE
Senior VP
COMPENSATION
$255K
AGE
53
TENURE
2.4 yrs

Philip Freeman

TITLE
Director
COMPENSATION
$37K
AGE
65
TENURE
26.6 yrs

David Turner

TITLE
Chairman
COMPENSATION
$646K
AGE
62
TENURE
8.6 yrs

Charles Dudenhoeffer

TITLE
Advisory Director
COMPENSATION
$32K
AGE
79
TENURE
4.8 yrs

James Loyd

TITLE
Advisory Director
AGE
87
TENURE
12.8 yrs

Kevin Riley

TITLE
Director
COMPENSATION
$36K
AGE
63
TENURE
24.6 yrs

Gus Wetzel

TITLE
Advisory Director
COMPENSATION
$32K
AGE
78
TENURE
3.2 yrs

Frank Burkhead

TITLE
Director
COMPENSATION
$37K
AGE
47
TENURE
5.1 yrs

Jack Wetzel

TITLE
Director
COMPENSATION
$13K
AGE
40
TENURE
0.8 yrs

Jon Holtaway

TITLE
Director
AGE
48
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Dec 18 Buy David Turner Individual 19. Dec 18 19. Dec 18 520 $22.41 $11,655
19. Dec 18 Buy Gus Wetzel Individual 19. Dec 18 19. Dec 18 1,040 $22.41 $23,310
19. Dec 18 Buy Kathleen Bruegenhemke Individual 19. Dec 18 19. Dec 18 520 $22.41 $11,655
19. Dec 18 Buy Philip Freeman Individual 19. Dec 18 19. Dec 18 520 $22.41 $11,655
19. Dec 18 Buy Kevin Riley Individual 19. Dec 18 19. Dec 18 520 $22.41 $11,655
X
Management checks
We assess Hawthorn Bancshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hawthorn Bancshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Many Hawthorn Bancshares, Inc. (NASDAQ:HWBK) Shares Do Institutions Own?

Hawthorn Bancshares is a smaller company with a market capitalization of US$137m, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Hawthorn Bancshares NasdaqGS:HWBK Ownership Summary, August 16th 2019 What Does The Institutional Ownership Tell Us About Hawthorn Bancshares? … Insider Ownership Of Hawthorn Bancshares The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Should You Be Pleased About The CEO Pay At Hawthorn Bancshares, Inc.'s (NASDAQ:HWBK)

First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for Hawthorn Bancshares How Does David Turner's Compensation Compare With Similar Sized Companies? … Most shareholders would consider it a positive that David Turner takes less total compensation than the CEOs of most similar size companies, leaving more for shareholders.

Simply Wall St -

Does Hawthorn Bancshares, Inc. (NASDAQ:HWBK) Have A Good P/E Ratio?

Hawthorn Bancshares has a price to earnings ratio of 12.41, based on the last twelve months. … Check out our latest analysis for Hawthorn Bancshares How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Hawthorn Bancshares: P/E of 12.41 = $26.3 ÷ $2.12 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Here's Why I Think Hawthorn Bancshares (NASDAQ:HWBK) Is An Interesting Stock

I note that Hawthorn Bancshares's revenue from operations was lower than its revenue in the last twelve months, so that could distort my analysis of its margins. … I do like that insiders have been buying shares in Hawthorn Bancshares, but there is more evidence of shareholder friendly management. … So if you like the sound of Hawthorn Bancshares, you'll probably love this free list of growing companies that insiders are buying.

Simply Wall St -

Could The Hawthorn Bancshares, Inc. (NASDAQ:HWBK) Ownership Structure Tell Us Something Useful?

Check out our latest analysis for Hawthorn Bancshares NasdaqGS:HWBK Ownership Summary, May 17th 2019 What Does The Institutional Ownership Tell Us About Hawthorn Bancshares? … General Public Ownership The general public -- mostly retail investors -- own 59% of Hawthorn Bancshares. … Private Company Ownership We can see that Private Companies own 3.4%, of the shares on issue.

Simply Wall St -

Is Hawthorn Bancshares, Inc.'s (NASDAQ:HWBK) CEO Salary Justified?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does David Turner's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$145m, and pays its CEO total annual compensation worth US$844k.

Simply Wall St -

Hawthorn Bancshares (NASDAQ:HWBK) Shareholders Have Enjoyed An Impressive 107% Share Price Gain

(NASDAQ:HWBK) which saw its share price drive 107% higher over five years. … During five years of share price growth, Hawthorn Bancshares achieved compound earnings per share (EPS) growth of 20% per year. … The EPS growth is more impressive than the yearly share price gain of 16% over the same period.

Simply Wall St -

Do You Like Hawthorn Bancshares, Inc. (NASDAQ:HWBK) At This P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Based on the last twelve months, Hawthorn Bancshares's P/E ratio is 13.29. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Real Risks To Know Before Investing In Hawthorn Bancshares, Inc. (NASDAQ:HWBK)

Its profit and value are directly impacted by its borrowers’ ability to pay which is driven by the level of economic growth. … This is because growth determines the stability of a borrower’s salary as well as the level of interest rates. … Since the level of risky assets held by the bank impacts the attractiveness of it as an investment, I will take you through three metrics that are insightful proxies for risk.

Simply Wall St -

What Makes Hawthorn Bancshares, Inc. (NASDAQ:HWBK) A Hard Investment?

As a small-cap finance stock with a market capitalisation of US$136m, the risk and profitability of Hawthorn Bancshares, Inc. … Post-GFC recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like Hawthorn Bancshares to vulnerabilities.

Simply Wall St -

Company Info

Description

Hawthorn Bancshares, Inc. operates as the bank holding company for Hawthorn Bank that provides various banking services in Missouri. The company offers checking and savings accounts, and certificates of deposit; and a range of lending services, including commercial and industrial, single payment personal, installment, and commercial and residential real estate loans. It also provides trust services, Internet banking services, brokerage services, safety deposit boxes, and debit cards. The company operates 23 banking offices. Hawthorn Bancshares, Inc. was founded in 1865 and is based in Jefferson City, Missouri.

Details
Name: Hawthorn Bancshares, Inc.
HWBK
Exchange: NasdaqGS
Founded: 1865
$142,847,131
6,276,236
Website: http://www.hawthornbancshares.com
Address: Hawthorn Bancshares, Inc.
132 East High Street,
Box 688,
Jefferson City,
Missouri, 65102,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS HWBK Common Stock Nasdaq Global Select US USD 19. Jun 2000
Number of employees
Current staff
Staff numbers
280
Hawthorn Bancshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/18 23:38
End of day share price update: 2019/08/16 00:00
Last earnings filing: 2019/08/08
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.