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Pathfinder Bancorp

Nasdaq:PBHC
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PBHC
Nasdaq
$70M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Pathfinder Bancorp, Inc. operates as a holding company for Pathfinder Bank that provides various banking and financial products and services primarily in Oswego and Onondaga counties, New York. The last earnings update was 26 days ago. More info.


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PBHC Share Price and Events
7 Day Returns
1.5%
NasdaqCM:PBHC
0.7%
US Mortgage
1.6%
US Market
1 Year Returns
-3.7%
NasdaqCM:PBHC
0.9%
US Mortgage
2.6%
US Market
PBHC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pathfinder Bancorp (PBHC) 1.5% 14.3% 8.2% -3.7% 32.8% 67.7%
US Mortgage 0.7% -0.3% -0.6% 0.9% 33.6% 40.8%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • PBHC underperformed the Mortgage industry which returned 0.9% over the past year.
  • PBHC underperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
PBHC
Industry
5yr Volatility vs Market

PBHC Value

 Is Pathfinder Bancorp 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 Pathfinder Bancorp 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 Pathfinder Bancorp.

NasdaqCM:PBHC 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
= $14.99 * 5.6%
$0.85
Book Value of Equity per Share Median Book Value from the past 5 years. $14.99
Discount Rate (Cost of Equity) See below 13.8%
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 NasdaqCM:PBHC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.907 (1 + (1- 21%) (191.9%))
1.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.859 * 5.96%)
13.81%

Discounted Cash Flow Calculation for NasdaqCM:PBHC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Pathfinder Bancorp 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.

NasdaqCM:PBHC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.6% – 13.81%) * $14.99)
$-1.22
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-1.22 / (13.81% - 2.73%)
$-11.04
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $14.99 + $-11.04
$3.94
NasdaqCM:PBHC Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.94
Current discount Discount to share price of $15.27
= -1 x ($15.27 - $3.94) / $3.94
-287.1%

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

  • The current share price of Pathfinder Bancorp 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 Pathfinder Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pathfinder Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:PBHC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.84
NasdaqCM:PBHC Share Price ** NasdaqCM (2019-05-21) in USD $15.27
United States of America Mortgage Industry PE Ratio Median Figure of 130 Publicly-Listed Mortgage Companies 14.24x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

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

** Primary Listing of Pathfinder Bancorp.

NasdaqCM:PBHC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:PBHC Share Price ÷ EPS (both in USD)

= 15.27 ÷ 0.84

18.12x

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

  • Pathfinder Bancorp is overvalued based on earnings compared to the US Mortgage industry average.
  • Pathfinder Bancorp is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Pathfinder Bancorp's expected growth come at a high price?
Raw Data
NasdaqCM:PBHC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
11.1%per year
United States of America Mortgage Industry PEG Ratio Median Figure of 49 Publicly-Listed Mortgage Companies 1.32x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*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 Pathfinder Bancorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Pathfinder Bancorp's assets?
Raw Data
NasdaqCM:PBHC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $15.21
NasdaqCM:PBHC Share Price * NasdaqCM (2019-05-21) in USD $15.27
United States of America Mortgage Industry PB Ratio Median Figure of 144 Publicly-Listed Mortgage Companies 1.13x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
NasdaqCM:PBHC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:PBHC Share Price ÷ Book Value per Share (both in USD)

= 15.27 ÷ 15.21

1x

* Primary Listing of Pathfinder Bancorp.

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

  • Pathfinder Bancorp is good value based on assets compared to the US Mortgage industry average.
X
Value checks
We assess Pathfinder Bancorp'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 Mortgage 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 Mortgage industry average (and greater than 0)? (1 check)
  5. Pathfinder Bancorp has a total score of 1/6, 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.

PBHC Future Performance

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

  • No analysts cover Pathfinder Bancorp, 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
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pathfinder Bancorp expected to grow at an attractive rate?
  • Pathfinder Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Pathfinder Bancorp's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Pathfinder Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:PBHC Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:PBHC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 11.1%
United States of America Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
United States of America Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
NasdaqCM:PBHC 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.
NasdaqCM:PBHC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 29 4
2018-12-31 28 9 4
2018-09-30 28 8 4
2018-06-30 27 9 4
2018-03-31 26 8 4
2017-12-31 25 7 3
2017-09-30 25 7 4
2017-06-30 24 6 3
2017-03-31 24 6 3
2016-12-31 24 6 3
2016-09-30 23 6 3
2016-06-30 23 6 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pathfinder Bancorp's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Pathfinder Bancorp 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
NasdaqCM:PBHC 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 Pathfinder Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:PBHC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.84
2018-12-31 0.97
2018-09-30 0.92
2018-06-30 0.90
2018-03-31 0.90
2017-12-31 0.86
2017-09-30 0.88
2017-06-30 0.86
2017-03-31 0.84
2016-12-31 0.79
2016-09-30 0.74
2016-06-30 0.74

*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 Pathfinder Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Pathfinder Bancorp'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.
Pathfinder Bancorp has a total score of 1/6, 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.

PBHC Past Performance

  How has Pathfinder Bancorp 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 Pathfinder Bancorp's growth in the last year to its industry (Mortgage).
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.
  • Pathfinder Bancorp's year on year earnings growth rate has been positive over the past 5 years.
  • Pathfinder Bancorp's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Pathfinder Bancorp's 1-year earnings growth is negative, it can't be compared to the US Mortgage industry average.
Earnings and Revenue History
Pathfinder Bancorp'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 Pathfinder Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:PBHC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 28.93 3.54 20.34
2018-12-31 28.10 4.03 20.34
2018-09-30 27.63 3.80 20.09
2018-06-30 27.15 3.72 19.53
2018-03-31 26.11 3.70 18.52
2017-12-31 25.44 3.49 18.01
2017-09-30 24.90 3.59 17.19
2017-06-30 24.27 3.50 16.82
2017-03-31 23.93 3.41 16.57
2016-12-31 23.52 3.26 16.28
2016-09-30 23.18 3.05 15.88
2016-06-30 22.88 3.08 15.61
2016-03-31 22.24 2.91 15.17
2015-12-31 21.59 2.76 14.86
2015-09-30 21.28 2.81 14.53
2015-06-30 20.53 2.67 13.97
2015-03-31 20.02 2.66 13.69
2014-12-31 19.64 2.65 13.36
2014-09-30 18.90 2.40 13.19
2014-06-30 18.40 2.21 13.06
2014-03-31 18.41 2.39 12.78
2013-12-31 18.00 2.41 12.42
2013-09-30 17.86 2.50 12.20
2013-06-30 17.55 2.53 11.87
2013-03-31 17.13 2.31 11.72
2012-12-31 17.10 2.20 11.71
2012-09-30 16.45 1.80 11.40
2012-06-30 16.86 1.54 11.39

*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.
  • Pathfinder Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pathfinder Bancorp used its assets less efficiently than the US Mortgage industry average last year based on Return on Assets.
  • Unable to establish if Pathfinder Bancorp 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 Pathfinder Bancorp'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 Mortgage 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.
Pathfinder Bancorp has a total score of 1/6, 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.

PBHC Health

 How is Pathfinder Bancorp'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 Pathfinder Bancorp'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 Pathfinder Bancorp Company Filings, last reported 1 month ago.

NasdaqCM:PBHC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 64.46 133.63 22.32
2018-12-31 64.46 133.63 22.32
2018-09-30 63.56 94.72 31.50
2018-06-30 62.87 99.18 32.38
2018-03-31 62.44 78.96 13.17
2017-12-31 62.14 88.95 15.69
2017-09-30 62.39 89.85 61.22
2017-06-30 61.53 99.74 15.32
2017-03-31 59.84 68.05 36.62
2016-12-31 58.36 73.97 9.22
2016-09-30 59.27 97.12 23.66
2016-06-30 60.12 78.46 25.10
2016-03-31 59.19 61.01 25.66
2015-12-31 71.23 56.32 11.35
2015-09-30 71.18 34.42 17.37
2015-06-30 70.07 67.21 17.41
2015-03-31 69.97 48.22 23.05
2014-12-31 69.20 71.34 7.46
2014-09-30 45.37 36.27 25.48
2014-06-30 44.65 47.07 10.68
2014-03-31 43.80 39.10 19.43
2013-12-31 43.07 46.14 15.40
2013-09-30 40.76 46.18 13.29
2013-06-30 40.14 50.08 11.53
2013-03-31 41.05 31.27 15.22
2012-12-31 40.75 40.31 7.85
2012-09-30 40.94 40.36 16.07
2012-06-30 39.81 30.38 12.14
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.
  • Pathfinder Bancorp has an acceptable proportion of non-loan assets held.
  • Pathfinder Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Pathfinder Bancorp are broadly funded by customer deposits.
  • Pathfinder Bancorp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Pathfinder Bancorp has a sufficient allowance for bad loans.
  • Pathfinder Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Pathfinder Bancorp'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. Pathfinder Bancorp 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.

PBHC Dividends

 What is Pathfinder Bancorp'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
1.57%
Current annual income from Pathfinder Bancorp dividends.
If you bought $2,000 of Pathfinder Bancorp shares you are expected to receive $31 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?
  • Pathfinder Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Pathfinder Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
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
NasdaqCM:PBHC 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 Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 95 Stocks 3.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 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 3.7%

Industry and Market average data is calculated daily.

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

NasdaqCM:PBHC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-29 0.240 1.748
2018-12-21 0.240 1.702
2018-09-28 0.240 1.609
2018-06-29 0.240 1.566
2018-03-29 0.240 1.527
2017-12-22 0.230 1.492
2017-09-29 0.220 1.437
2017-06-29 0.210 1.374
2017-03-30 0.200 1.323
2016-12-16 0.200 1.419
2016-09-29 0.200 1.616
2016-07-06 0.200 1.662
2016-04-01 0.200 1.752
2015-12-18 0.200 1.651
2015-09-24 0.200 1.731
2015-06-29 0.120 1.066
2015-03-27 0.120 1.093
2014-12-23 0.120 1.213
2014-09-30 0.073 0.751
2014-06-30 0.073 0.829
2014-04-04 0.073 0.803
2013-12-27 0.073 0.860
2013-09-30 0.073 0.890
2013-07-12 0.073 0.858
2013-04-02 0.073 0.917
2012-12-28 0.073 1.070
2012-11-19 0.073 1.142
2012-09-28 0.073 1.144
2012-08-15 0.073 1.165
2012-07-30 0.073 1.183
2012-07-05 0.073 1.217
2012-05-15 0.073 1.300
2012-05-04 0.073 1.299
2012-04-03 0.073 1.284
2012-03-29 0.073 1.232
2012-02-07 0.073 1.296
2011-12-23 0.073 1.312
2011-11-14 0.073 1.301
2011-11-03 0.073 1.334
2011-09-27 0.073 1.418
2011-08-16 0.073 1.325
2011-08-01 0.073 1.245
2011-06-29 0.073 1.353
2011-05-23 0.073 1.254
2011-04-28 0.073 1.222
2011-03-31 0.073 1.202
2011-02-08 0.073 1.324
2010-12-21 0.073 1.422
2010-09-30 0.073 1.562
2010-06-29 0.073 1.862
2010-05-17 0.073 1.866
2010-04-28 0.073 1.767
2010-04-15 0.073 1.823
2009-12-30 0.073 1.888
2009-11-20 0.073 2.057
2009-11-04 0.073 2.146
2009-10-05 0.073 1.842
2009-08-19 0.073 1.716
2009-08-06 0.073 1.707
2009-07-13 0.073 1.717

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Pathfinder Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x 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 Pathfinder Bancorp'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 Pathfinder Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pathfinder Bancorp has a total score of 4/6, see the detailed checks below.


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

PBHC Management

 What is the CEO of Pathfinder Bancorp'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
Tom Schneider
COMPENSATION $550,934
AGE 56
TENURE AS CEO 19.3 years
CEO Bio

Mr. Thomas W. Schneider, also known as Tom, has been the Chief Executive Officer and President at Pathfinder Bancorp, Inc. and its subsidiary Pathfinder Bank. Mr. Schneider serves as the Chief Executive Officer and President of Pathfinder Risk Management Company, Inc. and Pathfinder Bancorp M.H.C. He has been a Treasurer of New York Bankers Association Inc. since April 2013. Prior to his appointment as President in 2000, he served as an Executive Vice President and Chief Financial Officer of Pathfinder Bancorp, Inc. and Pathfinder Bank. He serves as a Director at Pathfinder Bancorp, Inc. and its subsidiary Pathfinder Bank since 2001. He served as a Director of Pathfinder Bancorp, MHC, the owner of a majority of the shares of the Company, as well as the Board of Pathfinder Bank, Pathfinder REIT and Whispering Oaks, all subsidiaries of Pathfinder Bank. He serves as an adjunct professor at SUNY Oswego, teaching a graduate-level finance course. Mr. Schneider earned a Master's In Business Administration Degree from Fairfield University in 2002 and a Bachelor's Degree in Economics from SUNY Cortland in 1983. Mr. Schneider concluded his Presidency of the New York State Bankers Association.

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

Average tenure and age of the Pathfinder Bancorp management team in years:

4.5
Average Tenure
57.5
Average Age
  • The tenure for the Pathfinder Bancorp management team is about average.
Management Team

Tom Schneider

TITLE
President
COMPENSATION
$551K
AGE
56
TENURE
19.3 yrs

Jim Dowd

TITLE
Executive VP
COMPENSATION
$328K
AGE
50
TENURE
2.2 yrs

Ron Tascarella

TITLE
Executive VP & Chief Credit Officer
COMPENSATION
$297K
AGE
59
TENURE
13.3 yrs

Walter Rusnak

TITLE
Senior VP & CFO
AGE
64
TENURE
0.3 yrs

Dan Phillips

TITLE
Senior VP & Chief Information Officer
AGE
53
TENURE
5.3 yrs

Edward Mervine

TITLE
Senior VP
COMPENSATION
$253K
AGE
61

Heather Bush

TITLE
Vice President of Human Resources

Lisa Kimball

TITLE
VP & Controller
TENURE
3.8 yrs

Bobbi Davis

TITLE
Vice President & Financial Analyst
Board of Directors Tenure

Average tenure and age of the Pathfinder Bancorp board of directors in years:

7.3
Average Tenure
55.5
Average Age
  • The tenure for the Pathfinder Bancorp board of directors is about average.
Board of Directors

Chris Burritt

TITLE
Chairman of the Board
COMPENSATION
$78K
AGE
65
TENURE
5.3 yrs

Tom Schneider

TITLE
President
COMPENSATION
$551K
AGE
56
TENURE
18.3 yrs

Buddy Stemple

TITLE
Director
COMPENSATION
$40K
AGE
57
TENURE
13.8 yrs

Will Barclay

TITLE
Director
COMPENSATION
$37K
AGE
49
TENURE
8.1 yrs

David Ayoub

TITLE
Director
COMPENSATION
$49K
AGE
55
TENURE
7.2 yrs

Adam Gagas

TITLE
Director
COMPENSATION
$34K
AGE
46
TENURE
5.1 yrs

George Joyce

TITLE
Director
COMPENSATION
$52K
AGE
67
TENURE
19.3 yrs

John Funiciello

TITLE
Director
COMPENSATION
$38K
AGE
54
TENURE
7.5 yrs

John Sharkey

TITLE
Director
COMPENSATION
$36K
AGE
60
TENURE
5.1 yrs

Melanie Littlejohn

TITLE
Director
COMPENSATION
$30K
AGE
53
TENURE
3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Pathfinder Bancorp insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
15. May 19 Buy Castle Creek Capital LLC Company 08. May 19 08. May 19 464,710 $14.25 $6,622,118
17. May 19 Buy Thomas Schneider Individual 15. May 19 16. May 19 10,000 $15.25 $150,197
15. May 19 Sell Robert Butkowski Individual 13. May 19 13. May 19 -100 $14.23 $-1,423
15. May 19 Buy Robert Butkowski Individual 13. May 19 13. May 19 411 $14.20 $5,754
13. May 19 Buy James Dowd Individual 13. May 19 13. May 19 4,000 $14.35 $57,400
13. May 19 Buy Ronald Tascarella Individual 13. May 19 13. May 19 13,800 $14.37 $197,106
10. May 19 Buy Walter Rusnak Individual 08. May 19 08. May 19 17,000 $14.25 $242,250
10. May 19 Buy Ronald Tascarella Individual 08. May 19 08. May 19 3,509 $14.25 $50,003
10. May 19 Buy Lloyd Stemple Individual 08. May 19 08. May 19 7,000 $14.25 $99,750
10. May 19 Buy John Sharkey Individual 08. May 19 08. May 19 11,000 $14.25 $156,750
10. May 19 Buy John Funiciello Individual 08. May 19 08. May 19 7,000 $14.25 $99,750
10. May 19 Buy William Barclay Individual 08. May 19 08. May 19 17,545 $14.25 $250,016
10. May 19 Buy David Ayoub Individual 08. May 19 08. May 19 5,263 $14.25 $74,998
10. May 19 Buy Chris Burritt Individual 08. May 19 08. May 19 10,000 $14.25 $142,500
10. May 19 Buy Adam Gagas Individual 08. May 19 08. May 19 7,100 $14.25 $101,175
13. Mar 19 Buy George Joyce Individual 12. Mar 19 12. Mar 19 1,000 $14.11 $14,110
07. Mar 19 Buy George Joyce Individual 06. Mar 19 06. Mar 19 1,000 $14.10 $14,100
30. Nov 18 Sell Thomas Schneider Individual 30. Nov 18 30. Nov 18 -4,000 $14.75 $-59,012
13. Nov 18 Buy Walter Rusnak Individual 09. Nov 18 09. Nov 18 1,350 $15.45 $20,855
04. Jun 18 Buy Thomas Schneider Individual 01. Jun 18 01. Jun 18 250 $16.13 $4,032
X
Management checks
We assess Pathfinder Bancorp'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. Pathfinder Bancorp 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.

PBHC News

Simply Wall St News

Is Pathfinder Bancorp, Inc. (NASDAQ:PBHC) Excessively Paying Its CEO?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Tom Schneider's Compensation Compare With Similar Sized Companies. … We examined a group of similar sized companies, with market capitalizations of below US$200m

Simply Wall St -

The Pathfinder Bancorp (NASDAQ:PBHC) Share Price Is Up 50% And Shareholders Are Holding On

(NASDAQ:PBHC) share price is 50% higher than it was five years ago, which is more than the market average. … Over half a decade, Pathfinder Bancorp managed to grow its earnings per share at 11% a year. … This EPS growth is higher than the 8.4% average annual increase in the share price.

Simply Wall St -

Do Insiders Own Shares In Pathfinder Bancorp, Inc. (NASDAQ:PBHC)?

Every investor in Pathfinder Bancorp, Inc. … With a market capitalization of US$58m, Pathfinder Bancorp is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Pathfinder Bancorp

Simply Wall St -

Read This Before You Buy Pathfinder Bancorp, Inc. (NASDAQ:PBHC) Because Of Its P/E Ratio

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Pathfinder Bancorp has a price to earnings ratio of 14.77, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is Pathfinder Bancorp, Inc. (NASDAQ:PBHC) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … Check out our latest analysis for Pathfinder Bancorp? … How Does Tom Schneider's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Pathfinder Bancorp, Inc. (NASDAQ:PBHC) An Attractive Dividend Stock?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Pathfinder Bancorp, Inc. … Let's dig deeper into whether Pathfinder Bancorp should have a place in your portfolio.

Simply Wall St -

Does Pathfinder Bancorp Inc's (NASDAQ:PBHC) P/E Ratio Signal A Buying Opportunity?

We'll look at Pathfinder Bancorp Inc's (NASDAQ:PBHC) P/E ratio and reflect on what it tells us about the company's share price. … Pathfinder Bancorp has a P/E ratio of 16.33, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

How Should Investors Feel About Pathfinder Bancorp Inc's (NASDAQ:PBHC) CEO Pay?

According to our data, Pathfinder Bancorp Inc has a market capitalization of US$66m, and pays its CEO total annual compensation worth US$535k. … We looked at a group of companies with market capitalizations under US$200m, and the median CEO compensation was US$290k. … Thus we can conclude that Tom Schneider receives more in total compensation than the median of a group of companies in the same market, and of similar size to Pathfinder Bancorp Inc

Simply Wall St -

Does Pathfinder Bancorp Inc's (NASDAQ:PBHC) PE Ratio Signal A Buying Opportunity?

Pathfinder Bancorp Inc (NASDAQ:PBHC) is currently trading at a trailing P/E of 16.8x, which is lower than the industry average of 18.2x. … While PBHC might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … What you need to know about the P/E ratio

Simply Wall St -

Is Buying Pathfinder Bancorp Inc (NASDAQ:PBHC) For Its Upcoming US$0.06 Dividend A Good Choice?

Investors who want to cash in on Pathfinder Bancorp Inc's (NASDAQ:PBHC) upcoming dividend of US$0.06 per share have only 2 days left to buy the shares before its ex-dividend date, 19 July 2018, in time for dividends payable on the 10 August 2018. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Let's take a look at Pathfinder Bancorp's most recent financial data to examine its dividend characteristics in more detail.

Simply Wall St -

PBHC Company Info

Description

Pathfinder Bancorp, Inc. operates as a holding company for Pathfinder Bank that provides various banking and financial products and services primarily in Oswego and Onondaga counties, New York. The company accepts various deposits, including checking, savings, and money market deposit accounts, as well as certificates of deposit, and demand and time deposits. Its loan portfolio comprises commercial real estate loans; commercial loans; residential real estate and construction loans; tax-exempt loans; home equity loans and junior liens; municipal loans; and consumer loans comprising automobile, recreational vehicles, and unsecured personal loans, as well as unsecured lines of credit and loans secured by deposit accounts. The company is also involved in the property, casualty, and life insurance brokerage business. It primarily serves individuals, families, small to mid-size businesses, and municipalities. As of April 4, 2018, it operated nine full service offices. The company also operates one loan production office in Oneida County. Pathfinder Bancorp, Inc. was founded in 1859 and is headquartered in Oswego, New York.

Details
Name: Pathfinder Bancorp, Inc.
PBHC
Exchange: NasdaqCM
Founded: 1859
$69,634,346
4,559,788
Website: http://www.pathfinderbank.com
Address: Pathfinder Bancorp, Inc.
214 West First Street,
Oswego,
New York, 13126,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM PBHC Common Stock Nasdaq Capital Market US USD 21. Nov 1995
Number of employees
Current staff
Staff numbers
160
Pathfinder Bancorp employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 03:34
End of day share price update: 2019/05/21 00:00
Last earnings filing: 2019/04/26
Last earnings reported: 2019/03/31
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.