NasdaqGM:ICBK

Stock Analysis Report

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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. More Details


Snowflake Analysis

Adequate balance sheet with moderate growth potential.


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

-0.5%

ICBK

2.7%

US Banks

-1.1%

US Market


1 Year Return

-13.1%

ICBK

-28.3%

US Banks

15.6%

US Market

Return vs Industry: ICBK exceeded the US Banks industry which returned -26.7% over the past year.

Return vs Market: ICBK underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

ICBKIndustryMarket
7 Day-0.5%2.7%-1.1%
30 Day7.8%9.8%4.2%
90 Day-3.1%2.6%6.3%
1 Year-12.1%-13.1%-25.7%-28.3%18.2%15.6%
3 Year-38.9%-40.9%-17.4%-24.3%39.6%30.4%
5 Year9.1%3.7%17.7%3.1%79.5%59.2%

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?

32.93x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ICBK ($19.3) is trading above our estimate of fair value ($8.22)

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


Price To Earnings Ratio

PE vs Industry: ICBK is poor value based on its PE Ratio (32.9x) compared to the US Banks industry average (10.3x).

PE vs Market: ICBK is poor value based on its PE Ratio (32.9x) compared to the US market (19.1x).


Price to Earnings Growth Ratio

PEG Ratio: ICBK is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: ICBK is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

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

52.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICBK's forecast earnings growth (52.3% per year) is above the savings rate (2.2%).

Earnings vs Market: ICBK's earnings (52.3% per year) are forecast to grow faster than the US market (22.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ICBK's revenue (1.2% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: ICBK's revenue (1.2% 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 (5.1%).


Next Steps

Past Performance

How has County Bancorp performed over the past 5 years?

-0.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICBK has a large one-off loss of $6.2M impacting its September 30 2020 financial results.

Growing Profit Margin: ICBK's current net profit margins (8.4%) are lower than last year (29.9%).


Past Earnings Growth Analysis

Earnings Trend: ICBK's earnings have declined by 0.2% per year over the past 5 years.

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

Earnings vs Industry: ICBK had negative earnings growth (-75.1%) over the past year, making it difficult to compare to the Banks industry average (-4%).


Return on Equity

High ROE: ICBK's Return on Equity (2.5%) is considered low.


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


Financial Institutions Analysis

Asset Level: ICBK's Assets to Equity ratio (8.8x) is low.

Allowance for Bad Loans: ICBK has a low allowance for bad loans (45%).

Low Risk Liabilities: 79% of ICBK's liabilities are made up of primarily low risk sources of funding.

Loan Level: ICBK has an appropriate level of Loans to Assets ratio (71%).

Low Risk Deposits: ICBK's Loans to Deposits ratio (101%) is appropriate.

Level of Bad Loans: ICBK has a high level of bad loans (3.8%).


Next Steps

Dividend

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

1.45%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ICBK's dividend (1.45%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.63%).

High Dividend: ICBK's dividend (1.45%) is low compared to the top 25% of dividend payers in the US market (4.56%).


Stability and Growth of Payments

Stable Dividend: ICBK has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ICBK's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.4%), ICBK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ICBK's dividends in 3 years are forecast to be well covered by earnings (20.1% payout ratio).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Tim Schneider (54 yo)

no data

Tenure

US$777,227

Compensation

Mr. Timothy Jon Schneider, also known as Tim, is a Co-Founder of County Bancorp, Inc. and has been its President since September 2014. Mr. Schneider serves as Chief Executive Officer of Investors Community ...


CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD777.23K) is above average for companies of similar size in the US market ($USD578.04K).

Compensation vs Earnings: Tim's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Timothy Schneider
Presidentno dataUS$777.23k1.55%
$ 1.9m
Wayne Mueller
Special Operations Officer & Director24.42yrsUS$77.98k1.59%
$ 1.9m
David Coggins
Executive VP & Chief Banking Officer of Investors Community Bank4.92yrsUS$514.70k0.50%
$ 608.3k
Glen Stiteley
CFO & Treasurer3.17yrsno data0.23%
$ 273.4k
Mark Miller
Secretary & Securities Compliance Officer6.58yrsUS$439.69k0.75%
$ 909.8k
John Fillingim
Executive VP & Chief Credit Officer of Investors Community Bankno datano datano data

5.7yrs

Average Tenure

59.5yo

Average Age

Experienced Management: ICBK's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Timothy Schneider
Presidentno dataUS$777.23k1.55%
$ 1.9m
Wayne Mueller
Special Operations Officer & Director24.42yrsUS$77.98k1.59%
$ 1.9m
Kathi Seifert
Independent Director4.33yrsUS$45.64k0.21%
$ 249.5k
Patrick Roe
Independent Director1.75yrsUS$43.29k0.20%
$ 244.6k
William Censky
Independent Director24.42yrsUS$94.49k5.49%
$ 6.7m
Mark Binversie
Director24.42yrsUS$522.39k5.39%
$ 6.5m
Edson Foster
Independent Director20.5yrsUS$56.29k0.51%
$ 614.0k
Gary Ziegelbauer
Independent Director24.42yrsUS$42.35k5.8%
$ 7.1m
Andrew Steimle
Independent Chairman of the Board0.25yrUS$58.84k0.34%
$ 415.8k
Lynn Davis
Independent Director6.5yrsUS$53.93k0.29%
$ 351.8k
Robert Matzke
Independent Director4.42yrsUS$51.20k0.46%
$ 559.9k
Vicki Tandeski
Independent Director2.42yrsUS$49.88k0.029%
$ 35.4k

13.5yrs

Average Tenure

66yo

Average Age

Experienced Board: ICBK's board of directors are seasoned and experienced ( 13.5 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

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$121.487m
  • Shares outstanding: 6.29m
  • 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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/27 00:17
End of Day Share Price2020/10/26 00:00
Earnings2020/09/30
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.