NasdaqCM:SAL

Stock Analysis Report

Executive Summary

Salisbury Bancorp, Inc. operates as the bank holding company for Salisbury Bank and Trust Company that provides commercial banking, consumer financing, retail banking, and trust and wealth advisory services.

Snowflake

Fundamentals

Flawless balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.4%

SAL

2.9%

US Banks

0.07%

US Market


1 Year Return

-8.3%

SAL

8.6%

US Banks

8.9%

US Market

Return vs Industry: SAL underperformed the US Banks industry which returned 8.6% over the past year.

Return vs Market: SAL underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

SALIndustryMarket
7 Day-0.4%2.9%0.07%
30 Day-3.9%3.4%-0.3%
90 Day1.5%2.1%-1.6%
1 Year-5.6%-8.3%11.8%8.6%11.3%8.9%
3 Year31.4%20.9%54.8%44.1%46.3%36.8%
5 Year62.8%38.9%70.2%51.6%62.1%44.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

10.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SAL ($38.2) is trading above our estimate of fair value ($32.93)

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


Price To Earnings Ratio

PE vs Industry: SAL is good value based on its PE Ratio (10.7x) compared to the Banks industry average (12.6x).

PE vs Market: SAL is good value based on its PE Ratio (10.7x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: SAL is poor value based on its PEG Ratio (9.7x)


Price to Book Ratio

PB vs Industry: SAL is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Salisbury Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

1.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAL's forecast earnings growth (1.1% per year) is below the savings rate (2.7%).

Earnings vs Market: SAL's earnings (1.1% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: SAL's earnings are forecast to grow, but not significantly.

Revenue vs Market: SAL's revenue is expected to decline over the next 3 years (-6.1% per year).

High Growth Revenue: SAL's revenue is forecast to decline over the next 3 years (-6.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SAL's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Salisbury Bancorp performed over the past 5 years?

15.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SAL's earnings have grown by 15.5% per year over the past 5 years.

Accelerating Growth: SAL's earnings growth over the past year (50%) exceeds its 5-year average (15.5% per year).

Earnings vs Industry: SAL earnings growth over the past year (50%) exceeded the Banks industry 29.7%.


Return on Equity

High ROE: SAL's Return on Equity (9.2%) is considered low.


Return on Assets

ROA vs Industry: SAL's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate SAL's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Salisbury 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: SAL has a low level of unsold assets or inventory.

Debt Coverage by Assets: SAL's debt is covered by short term assets (assets are 1.1x debt).


Financial Institutions Analysis

Asset Level: SAL's level of assets compared to its equity is moderate.

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

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

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

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

Level of Bad Loans: SAL has an appropriate level of bad loans (0.55%)


Next Steps

Dividend

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

2.93%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Years2.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SAL's dividend (2.93%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: SAL's dividend (2.93%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: SAL's dividends per share have been stable in the past 10 years.

Growing Dividend: SAL's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.3%), SAL'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

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

4.8yrs

Average management tenure


CEO

Rick Cantele (59yo)

10.3yrs

Tenure

US$669,918

Compensation

Mr. Richard J. Cantele, Jr., also known as Rick has been the Chief Executive Officer of Salisbury BanCorp. Inc., and Salisbury Bank & Trust Company since June 8, 2009 and has been its President since Janua ...


CEO Compensation Analysis

Compensation vs. Market: Rick's total compensation ($USD669.92K) is about average for companies of similar size in the US market ($USD509.30K).

Compensation vs Earnings: Rick's compensation has been consistent with company performance over the past year.


Management Age and Tenure

4.8yrs

Average Tenure

56yo

Average Age

Experienced Management: SAL's management team is considered experienced (4.8 years average tenure).


Board Age and Tenure

7.1yrs

Average Tenure

73.5yo

Average Age

Experienced Board: SAL's board of directors are considered experienced (7.1 years average tenure).


Insider Trading

Insider Buying: SAL insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$17,52611 Sep 19
Michael Gordon
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares450
Max PriceUS$39.00
BuyUS$19,93503 Sep 19
Peter Albero
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares500
Max PriceUS$39.87
BuyUS$50,15427 Aug 19
David Farrell
EntityIndividual
Role
Chairman of the Board
Chairman
Shares1,300
Max PriceUS$38.58
SellUS$19,25002 May 19
Amy Raymond
EntityIndividual
Shares500
Max PriceUS$38.50
SellUS$53,75012 Mar 19
Michael Gordon
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,250
Max PriceUS$43.00

Ownership Breakdown


Management Team

  • Rick Cantele (59yo)

    President

    • Tenure: 10.3yrs
    • Compensation: US$669.92k
  • John Davies (56yo)

    President of NY Region & Chief Lending Officer

    • Tenure: 4.8yrs
    • Compensation: US$598.67k
  • Shelly Humeston

    Senior VP & Secretary

    • Tenure: 0yrs
  • Peter Albero (54yo)

    Executive VP

    • Tenure: 2yrs
    • Compensation: US$333.93k

Board Members

  • John Perotti (72yo)

    Independent Director

    • Tenure: 21.8yrs
    • Compensation: US$49.80k
  • Holly Nelson (65yo)

    Independent Director

    • Tenure: 21.8yrs
    • Compensation: US$23.28k
  • Nancy Humphreys (77yo)

    Independent Director

    • Tenure: 18.8yrs
    • Compensation: US$28.81k
  • Dave Farrell (64yo)

    Chairman

    • Tenure: 0.4yrs
    • Compensation: US$27.26k
  • Rick Cantele (59yo)

    President

    • Tenure: 10.3yrs
    • Compensation: US$669.92k
  • Arthur Bassin (74yo)

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: US$29.33k
  • Chuck Andola (75yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$24.91k
  • Michael Gordon (73yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$21.01k
  • Polly Hoe (74yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$21.91k
  • George Banta (83yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$20.83k

Company Information

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


Key Information

  • Name: Salisbury Bancorp, Inc.
  • Ticker: SAL
  • Exchange: NasdaqCM
  • Founded: 1848
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$107.870m
  • Shares outstanding: 2.82m
  • Website: https://www.salisburybank.com

Location

  • Salisbury Bancorp, Inc.
  • 5 Bissell Street
  • PO Box 1868
  • Lakeville
  • Connecticut
  • 6039
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SALNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJan 1975

Biography

Salisbury Bancorp, Inc. operates as the bank holding company for Salisbury Bank and Trust Company that provides commercial banking, consumer financing, retail banking, and trust and wealth advisory service ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 23:39
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.