NasdaqGM:ICBK

Stock Analysis Report

Executive Summary

County Bancorp, Inc. operates as the bank holding company for Investors Community Bank that provides a range of consumer and commercial banking services to individuals, businesses, and industries primarily in northeastern and central Wisconsin.


Snowflake Analysis

Solid track record and good value.


Similar Companies

Share Price & News

How has County Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

3.2%

ICBK

-0.3%

US Banks

0.06%

US Market


1 Year Return

37.7%

ICBK

11.1%

US Banks

19.3%

US Market

Return vs Industry: ICBK exceeded the US Banks industry which returned 11.1% over the past year.

Return vs Market: ICBK exceeded the US Market which returned 19.3% over the past year.


Shareholder returns

ICBKIndustryMarket
7 Day3.2%-0.3%0.06%
30 Day1.0%-0.5%1.7%
90 Day14.5%0.6%9.0%
1 Year39.1%37.7%14.4%11.1%21.8%19.3%
3 Year1.6%-1.5%24.7%15.7%49.5%39.9%
5 Year40.1%33.8%74.9%55.1%73.1%54.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is County Bancorp undervalued compared to its fair value and its price relative to the market?

12.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ICBK ($27.08) is trading below our estimate of fair value ($30.93)

Significantly Below Fair Value: ICBK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ICBK is good value based on its PE Ratio (11.4x) compared to the Banks industry average (12.6x).

PE vs Market: ICBK is good value based on its PE Ratio (11.4x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: ICBK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ICBK is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is County Bancorp forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-8.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICBK's earnings are forecast to decline over the next 3 years (-8% per year).

Earnings vs Market: ICBK's earnings are forecast to decline over the next 3 years (-8% per year).

High Growth Earnings: ICBK's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ICBK's revenue (2.7% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: ICBK's revenue (2.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ICBK's Return on Equity is forecast to be low in 3 years time (7.5%).


Next Steps

Past Performance

How has County Bancorp performed over the past 5 years?

12.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICBK has high quality earnings.

Growing Profit Margin: ICBK's current net profit margins (30.4%) are higher than last year (29.1%).


Past Earnings Growth Analysis

Earnings Trend: ICBK's earnings have grown by 12% per year over the past 5 years.

Accelerating Growth: ICBK's earnings growth over the past year (15.5%) exceeds its 5-year average (12% per year).

Earnings vs Industry: ICBK earnings growth over the past year (15.5%) exceeded the Banks industry 12.2%.


Return on Equity

High ROE: ICBK's Return on Equity (9.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is County Bancorp'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: ICBK has a low level of unsold assets or inventory.

Debt Coverage by Assets: ICBK's debt is covered by short term assets (assets are 1.5x debt).


Financial Institutions Analysis

Asset Level: ICBK's level of assets compared to its equity is low.

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

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

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

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

Level of Bad Loans: ICBK has a high level of bad loans (2.99%)


Next Steps

Dividend

What is County Bancorp's current dividend yield, its reliability and sustainability?

0.74%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ICBK's dividend (0.74%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: ICBK's dividend (0.74%) is low compared to the top 25% of dividend payers in the US market (3.71%).


Stability and Growth of Payments

Stable Dividend: ICBK is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: ICBK is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: ICBK is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ICBK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

5.6yrs

Average management tenure


CEO

County Bancorp has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Timothy Schneider
President & Director23.8yrsUS$643.15k1.7% $3.1m
Mark Miller
Secretary & Securities Compliance Officer5.9yrsUS$439.69k0.72% $1.3m
Wayne Mueller
Special Operations Officer & Director23.8yrsUS$81.74k1.48% $2.7m
Glen Stiteley
CFO & Treasurer2.5yrsno data0.16% $282.8k

5.6yrs

Average Tenure

57yo

Average Age

Experienced Management: ICBK's management team is seasoned and experienced (5.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Timothy Schneider
President & Director23.8yrsUS$643.15k1.7% $3.1m
Wayne Mueller
Special Operations Officer & Director23.8yrsUS$81.74k1.48% $2.7m
Patrick Roe
Independent Director1yrsno data0.18% $321.1k
William Censky
Chairman of the Board23.8yrsUS$106.83k5.12% $9.3m
Mark Binversie
Director23.8yrsUS$463.15k4.79% $8.7m
Edson Foster
Independent Director19.8yrsUS$57.70k0.46% $846.3k
Gary Ziegelbauer
Independent Director23.8yrsUS$45.73k5.69% $10.4m
Andrew Steimle
Independent Director11.8yrsUS$63.63k0.31% $568.2k
Lynn Davis
Independent Director5.8yrsUS$53.72k0.26% $478.3k
Robert Matzke
Independent Director3.8yrsUS$49.88k0.42% $770.3k

21.8yrs

Average Tenure

65yo

Average Age

Experienced Board: ICBK's board of directors are seasoned and experienced ( 21.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ICBK insiders have only sold shares 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

County Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: County Bancorp, Inc.
  • Ticker: ICBK
  • Exchange: NasdaqGM
  • Founded: 1996
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$182.360m
  • Shares outstanding: 6.73m
  • Website: https://www.investorscommunitybank.com

Number of Employees


Location

  • County Bancorp, Inc.
  • 2400 South 44th Street
  • Manitowoc
  • Wisconsin
  • 54221
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ICBKNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDJan 2015

Biography

County Bancorp, Inc. operates as the bank holding company for Investors Community Bank that provides a range of consumer and commercial banking services to individuals, businesses, and industries primarily in northeastern and central Wisconsin. The company accepts demand interest bearing and noninterest bearing, money market deposit, NOW, checking, and savings accounts, as well as time deposits. It also offers agricultural loans; commercial and industrial loans, such as conventional term loans, and lines of credit and government guaranteed loans; commercial real estate mortgage loans, including multi-family investment properties and investment retail, office, mini-storage, and warehouse loans; and consumer, personal, and residential real estate loans. In addition, the company provides mobile and Internet banking, remote merchant deposit capture, cash management, safe deposit, direct deposit, notary, night depository, cashier’s check, and drive-in teller services, as well as credit, debit, and ATM cards; and crop insurance and milk margin products. It operates full-service branches in Manitowoc, Appleton, Green Bay, and Stevens Point; and loan production offices in Darlington, Eau Claire, Fond du Lac, and Sheboygan. County Bancorp, Inc. was founded in 1996 and is headquartered in Manitowoc, Wisconsin. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/21 00:54
End of Day Share Price2020/02/20 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.