NasdaqCM:IROQ

Stock Analysis Report

Executive Summary

IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association that provides a range of banking and financial services to individual and corporate clients.


Snowflake Analysis

Flawless balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

n/a

IROQ

-1.0%

US Mortgage

-1.1%

US Market


1 Year Return

8.7%

IROQ

5.8%

US Mortgage

17.8%

US Market

Return vs Industry: IROQ exceeded the US Mortgage industry which returned 5.8% over the past year.

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


Shareholder returns

IROQIndustryMarket
7 Dayn/a-1.0%-1.1%
30 Day0%-1.2%1.5%
90 Day2.7%-3.2%6.6%
1 Year10.1%8.7%8.3%5.8%20.2%17.8%
3 Year14.4%10.8%18.4%10.0%47.5%38.1%
5 Year43.0%36.5%57.0%39.7%71.2%52.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

19.25x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IROQ ($23) is trading above our estimate of fair value ($10.3)

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


Price To Earnings Ratio

PE vs Industry: IROQ is poor value based on its PE Ratio (19.2x) compared to the Mortgage industry average (13.6x).

PE vs Market: IROQ is poor value based on its PE Ratio (19.2x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IROQ is good value based on its PB Ratio (1x) compared to the US Mortgage industry average (1.1x).


Next Steps

Future Growth

How is IF Bancorp 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 IF Bancorp 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 IF Bancorp performed over the past 5 years?

-3.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IROQ has high quality earnings.

Growing Profit Margin: IROQ's current net profit margins (17.7%) are higher than last year (15.2%).


Past Earnings Growth Analysis

Earnings Trend: IROQ's earnings have declined by -3.4% per year over the past 5 years.

Accelerating Growth: IROQ's earnings growth over the past year (21.5%) exceeds its 5-year average (-3.4% per year).

Earnings vs Industry: IROQ earnings growth over the past year (21.5%) exceeded the Mortgage industry 11.1%.


Return on Equity

High ROE: IROQ's Return on Equity (5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is IF 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: IROQ has a low level of unsold assets or inventory.

Debt Coverage by Assets: IROQ's debt is not covered by short term assets (assets are 0.4x debt).


Financial Institutions Analysis

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

Allowance for Bad Loans: IROQ has a sufficient allowance for bad loans.

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

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

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

Level of Bad Loans: IROQ has an appropriate level of bad loans (0.12%)


Next Steps

Dividend

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

1.30%

Current Dividend Yield


Upcoming Dividend Payment

Purchase IF Bancorp before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company1.3%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: IROQ's dividend (1.3%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: IROQ's dividend (1.3%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, IROQ has been paying a dividend for less than 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23%), IROQ'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?

6.7yrs

Average management tenure


CEO

Chip Hasselbring (63yo)

4.3yrs

Tenure

US$548,418

Compensation

Mr. Walter H. Hasselbring III, also known as Chip, has been Chief Executive Officer and President at IF Bancorp, Inc. and Iroquois Federal since October 1, 2015. Mr. Hasselbring served as the Chief Operati ...


CEO Compensation Analysis

Compensation vs Market: Chip's total compensation ($USD548.42K) is about average for companies of similar size in the US market ($USD521.92K).

Compensation vs Earnings: Chip's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Walter Hasselbring
President4.3yrsUS$548.42k1.39% $1.0m
Pamela Verkler
Senior Executive VP9.1yrsUS$386.48k0.84% $632.6k
Thomas Chamberlain
Executive Vice President9.6yrsUS$328.14k1.22% $913.3k
Linda Hamilton
Executive VP & COO4.3yrsno datano data
Beth Warren
Corporate Secretary0yrsno datano data

6.7yrs

Average Tenure

61yo

Average Age

Experienced Management: IROQ's management team is seasoned and experienced (6.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Walter Hasselbring
President4.3yrsUS$548.42k1.39% $1.0m
Joseph Cowan
Independent Director9.1yrsUS$42.15k0.79% $593.4k
Alan Martin
Independent Director9.1yrsUS$42.15k1.32% $991.1k
Gary Martin
Independent Chairman of the Board9.1yrsUS$87.59k0.94% $708.4k
Wayne Lehmann
Independent Director9.1yrsUS$42.15k0.30% $225.4k
Dennis Wittenborn
Independent Director9.1yrsUS$51.10k1.7% $1.3m
Rodney Yergler
Independent Director9.1yrsUS$42.15k0.99% $742.9k

9.1yrs

Average Tenure

65yo

Average Age

Experienced Board: IROQ's board of directors are considered experienced (9.1 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

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


Key Information

  • Name: IF Bancorp, Inc.
  • Ticker: IROQ
  • Exchange: NasdaqCM
  • Founded: 1883
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$74.984m
  • Shares outstanding: 3.26m
  • Website: https://www.iroquoisfed.com

Number of Employees


Location

  • IF Bancorp, Inc.
  • 201 East Cherry Street
  • Watseka
  • Illinois
  • 60970
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IROQNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJul 2011

Biography

IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association that provides a range of banking and financial services to individual and corporate clients. The company offers various deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, individual retirement accounts, and health savings accounts. It also provides loans comprising one- to four-family residential mortgage loans; multi-family mortgage loans; commercial real estate loans, such as farm loans; home equity lines of credit; commercial business loans; and consumer loans primarily consisting of automobile loans, as well as construction loans and land development loans. In addition, the company sells property and casualty insurance, as well as offers annuities; mutual funds; individual and group retirement plans; life, disability, and health insurance; individual securities; managed accounts; and other financial services. Further, it invests in securities; and provides ATM, online banking and bill pay, mobile banking, ACH origination, remote deposit capture, and telephone banking services. As of September 13, 2019, it operated a network of seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Champaign, and Bourbonnais, Illinois; and a loan production and wealth management office in Osage Beach, Missouri. IF Bancorp, Inc. was founded in 1883 and is headquartered in Watseka, Illinois. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 01:50
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
Annual Earnings2019/06/30


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.