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Timberland Bancorp

Nasdaq:TSBK
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TSBK
Nasdaq
$213M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Timberland Bancorp, Inc. operates as the bank holding company for Timberland Bank that provides various banking services in Washington. The last earnings update was 69 days ago. More info.


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TSBK Share Price and Events
7 Day Returns
-10%
NasdaqGM:TSBK
-1.1%
US Mortgage
-0.3%
US Market
1 Year Returns
-33%
NasdaqGM:TSBK
0.6%
US Mortgage
3.4%
US Market
TSBK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Timberland Bancorp (TSBK) -10% -7.6% -9% -33% 70.5% 138.8%
US Mortgage -1.1% 0.8% 0.9% 0.6% 32.3% 42.9%
US Market -0.3% 2.9% 2.1% 3.4% 36.2% 41.3%
1 Year Return vs Industry and Market
  • TSBK underperformed the Mortgage industry which returned 0.6% over the past year.
  • TSBK underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
TSBK
Industry
5yr Volatility vs Market

TSBK Value

 Is Timberland 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 Timberland 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 Timberland Bancorp.

NasdaqGM:TSBK 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
= $15.19 * 12.8%
$1.94
Book Value of Equity per Share Median Book Value from the past 5 years. $15.19
Discount Rate (Cost of Equity) See below 8.1%
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 NasdaqGM:TSBK
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 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.858 (1 + (1- 21%) (0%))
0.905
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.905 * 5.96%)
8.12%

Discounted Cash Flow Calculation for NasdaqGM:TSBK using Excess Returns Model Model

The calculations below outline how an intrinsic value for Timberland 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.

NasdaqGM:TSBK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.8% – 8.12%) * $15.19)
$0.70
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.70 / (8.12% - 2.73%)
$13.07
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $15.19 + $13.07
$28.26
NasdaqGM:TSBK Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.26
Current discount Discount to share price of $25.58
= -1 x ($25.58 - $28.26) / $28.26
9.5%

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

Current Discount
Amount off the current price Timberland Bancorp is available for.
Intrinsic value
9%
Share price is $25.58 vs Future cash flow value of $28.26
Current Discount Checks
For Timberland Bancorp to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Timberland Bancorp's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Timberland Bancorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Timberland Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Timberland Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:TSBK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.63
NasdaqGM:TSBK Share Price ** NasdaqGM (2019-07-18) in USD $25.58
United States of America Mortgage Industry PE Ratio Median Figure of 129 Publicly-Listed Mortgage Companies 14.33x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.88x

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

** Primary Listing of Timberland Bancorp.

NasdaqGM:TSBK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:TSBK Share Price ÷ EPS (both in USD)

= 25.58 ÷ 2.63

9.73x

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

  • Timberland Bancorp is good value based on earnings compared to the US Mortgage industry average.
  • Timberland Bancorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Timberland Bancorp's expected growth come at a high price?
Raw Data
NasdaqGM:TSBK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-3%per year
United States of America Mortgage Industry PEG Ratio Median Figure of 50 Publicly-Listed Mortgage Companies 1.23x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.57x

*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 Timberland Bancorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Timberland Bancorp's assets?
Raw Data
NasdaqGM:TSBK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $19.47
NasdaqGM:TSBK Share Price * NasdaqGM (2019-07-18) in USD $25.58
United States of America Mortgage Industry PB Ratio Median Figure of 145 Publicly-Listed Mortgage Companies 1.13x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.8x
NasdaqGM:TSBK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:TSBK Share Price ÷ Book Value per Share (both in USD)

= 25.58 ÷ 19.47

1.31x

* Primary Listing of Timberland Bancorp.

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

  • Timberland Bancorp is overvalued based on assets compared to the US Mortgage industry average.
X
Value checks
We assess Timberland 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. Timberland Bancorp has a total score of 2/6, 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.

TSBK Future Performance

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

  • No analysts cover Timberland 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
-3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Timberland Bancorp expected to grow at an attractive rate?
  • Timberland Bancorp's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Timberland Bancorp's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Unable to compare Timberland Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:TSBK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:TSBK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -3%
United States of America Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 10.7%
United States of America Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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
NasdaqGM:TSBK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months 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.
NasdaqGM:TSBK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 58 23 21
2018-12-31 55 22 19
2018-09-30 52 21 17
2018-06-30 51 20 16
2018-03-31 51 18 16
2017-12-31 50 14 15
2017-09-30 49 14 14
2017-06-30 47 15 13
2017-03-31 44 9 12
2016-12-31 43 12 11
2016-09-30 42 12 10
2016-06-30 42 10 10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Timberland Bancorp's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Timberland 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
NasdaqGM:TSBK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Timberland Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:TSBK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.63
2018-12-31 2.47
2018-09-30 2.28
2018-06-30 2.17
2018-03-31 2.16
2017-12-31 2.02
2017-09-30 1.99
2017-06-30 1.89
2017-03-31 1.67
2016-12-31 1.57
2016-09-30 1.48
2016-06-30 1.52

*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 Timberland Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Timberland 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.
Timberland Bancorp has a total score of 0/6, 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.

TSBK Past Performance

  How has Timberland 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 Timberland 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.
  • Timberland Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • Timberland Bancorp's 1-year earnings growth exceeds its 5-year average (30.4% vs 27.3%)
  • Timberland Bancorp's earnings growth has not exceeded the US Mortgage industry average in the past year (30.4% vs 39%).
Earnings and Revenue History
Timberland 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 Timberland Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:TSBK 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 57.58 20.57 25.46
2018-12-31 54.74 18.72 23.98
2018-09-30 51.70 16.72 22.92
2018-06-30 50.53 15.91 22.74
2018-03-31 51.06 15.78 22.53
2017-12-31 49.80 14.63 22.21
2017-09-30 48.75 14.17 21.88
2017-06-30 47.13 13.25 21.71
2017-03-31 44.09 11.52 21.35
2016-12-31 42.72 10.77 21.00
2016-09-30 41.69 10.15 20.77
2016-06-30 41.99 10.41 20.57
2016-03-31 41.43 10.02 20.32
2015-12-31 40.02 9.09 20.21
2015-09-30 38.62 8.29 20.06
2015-06-30 36.21 6.98 19.61
2015-03-31 34.96 6.26 19.75
2014-12-31 34.63 5.97 19.67
2014-09-30 34.46 5.64 19.60
2014-06-30 34.36 4.69 19.67
2014-03-31 33.29 3.94 19.43
2013-12-31 32.89 3.98 19.11
2013-09-30 33.57 4.02 18.71
2013-06-30 32.49 4.21 18.63
2013-03-31 33.08 4.61 18.46
2012-12-31 32.75 3.95 18.39
2012-09-30 31.94 3.52 18.25

*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.
  • Timberland Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Timberland Bancorp used its assets more efficiently than the US Mortgage industry average last year based on Return on Assets.
  • Unable to establish if Timberland 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 Timberland 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.
Timberland Bancorp has a total score of 3/6, 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.

TSBK Health

 How is Timberland 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 Timberland 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 Timberland Bancorp Company Filings, last reported 3 months ago.

NasdaqGM:TSBK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 162.34 0.00 240.32
2018-12-31 156.91 0.00 227.57
2018-09-30 124.66 0.00 210.55
2018-06-30 120.89 0.00 219.96
2018-03-31 117.84 0.00 222.34
2017-12-31 114.11 0.00 219.74
2017-09-30 111.00 0.00 189.56
2017-06-30 108.62 0.00 173.63
2017-03-31 104.83 30.00 200.97
2016-12-31 99.63 30.00 188.90
2016-09-30 96.83 30.00 160.40
2016-06-30 94.45 45.00 141.61
2016-03-31 92.26 45.00 162.55
2015-12-31 91.05 45.00 144.47
2015-09-30 89.19 45.00 139.87
2015-06-30 87.29 45.00 123.23
2015-03-31 85.42 45.00 123.96
2014-12-31 84.27 45.00 108.35
2014-09-30 82.78 45.00 107.19
2014-06-30 81.33 45.00 96.30
2014-03-31 80.02 45.00 101.63
2013-12-31 79.09 45.00 98.67
2013-09-30 89.69 45.00 123.70
2013-06-30 89.23 45.00 109.29
2013-03-31 88.53 45.55 111.86
2012-12-31 91.90 45.63 112.60
2012-09-30 90.32 45.86 119.28
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.
  • Timberland Bancorp has an acceptable proportion of non-loan assets held.
  • Timberland Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Timberland Bancorp are broadly funded by customer deposits.
  • Timberland Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Timberland Bancorp has a sufficient allowance for bad loans.
  • Timberland Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Timberland 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. Timberland 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.

TSBK Dividends

 What is Timberland 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
2.35%
Current annual income from Timberland Bancorp dividends.
If you bought $2,000 of Timberland Bancorp shares you are expected to receive $47 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?
  • Timberland Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Timberland Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
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
NasdaqGM:TSBK 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 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

NasdaqGM:TSBK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-30 0.600 2.203
2019-01-22 0.600 2.087
2018-12-07 0.520 2.140
2018-11-01 0.520 1.830
2018-08-06 0.520 1.593
2018-07-24 0.520 1.397
2018-05-08 0.520 1.474
2018-02-08 0.520 1.712
2018-01-23 0.520 1.881
2017-12-08 0.440 1.600
2017-04-25 0.440 1.672
2017-01-23 0.440 2.032
2016-12-09 0.360 1.761
2016-11-03 0.360 1.950
2016-08-08 0.360 2.302
2016-07-27 0.360 2.340
2016-04-26 0.320 2.169
2016-02-09 0.320 2.527
2016-01-25 0.320 2.564
2015-12-07 0.280 2.258
2015-11-02 0.280 2.225
2015-08-05 0.280 2.601
2015-07-29 0.280 2.616
2015-06-01 0.240 2.326
2015-05-11 0.240 2.307
2015-04-29 0.240 2.282
2015-02-09 0.240 2.237
2015-01-27 0.240 2.226
2014-07-23 0.200 1.891
2014-04-23 0.160 1.503
2014-01-27 0.160 1.467
2013-11-06 0.120 1.280
2013-07-23 0.120 1.352
2013-04-23 0.120 1.453
2013-01-22 0.120 1.460
2012-04-24 0.000 0.000
2012-02-10 0.000 0.000
2012-01-24 0.000 0.000
2011-12-12 0.000 0.000
2011-11-14 0.000 0.000
2011-08-09 0.000 0.000
2011-07-27 0.000 0.000
2011-05-10 0.000 0.000
2011-04-26 0.000 0.000
2011-02-07 0.000 0.000
2011-01-24 0.000 0.000
2010-12-10 0.000 0.000
2010-11-09 0.000 0.000
2010-08-09 0.000 0.000
2010-01-29 0.040 1.020
2009-11-06 0.120 2.818
2009-07-31 0.240 5.238
2009-04-30 0.440 9.336
2009-01-28 0.440 8.953
2008-10-29 0.440 6.468

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Timberland Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.9x 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 Timberland 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 Timberland Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Timberland Bancorp has a total score of 3/6, see the detailed checks below.


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

TSBK Management

 What is the CEO of Timberland 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
Mike Sand
COMPENSATION $459,788
AGE 65
TENURE AS CEO 15.8 years
CEO Bio

Mr. Michael R. Sand has been the President of Timberland BanCorp. Inc. and its subsidiary Timberland Bank (also known as Timberland Savings Bank) since January 23, 2003. Mr. Sand has been affiliated with Timberland Bank since 1977. Mr. Sand has been the Chief Executive Officer of Timberland BanCorp. Inc. and Timberland Bank since September 30, 2003. He served as Executive Vice President and Secretary of Timberland Bancorp, Inc. since 1997. He served as the Executive Vice President and Secretary of Timberland Bank since 1993. Mr. Sand has been a Director of Timberland BanCorp. Inc since 1993 and its subsidiary, Timberland Bank (the 'Bank') since 1993.

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

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

12.8
Average Tenure
63.5
Average Age
  • The average tenure for the Timberland Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike Sand

TITLE
President
COMPENSATION
$460K
AGE
65
TENURE
15.8 yrs

Dean Brydon

TITLE
Executive VP
COMPENSATION
$293K
AGE
52
TENURE
19.5 yrs

Jonathan Fischer

TITLE
Executive VP & COO
COMPENSATION
$260K
AGE
45
TENURE
7.5 yrs

Robert Drugge

TITLE
Executive Vice President of Lending
COMPENSATION
$293K
AGE
68
TENURE
12.8 yrs

Ed Foster

TITLE
Executive VP & Chief Credit Administrator
COMPENSATION
$244K
AGE
62
TENURE
7.4 yrs

Marci Basich

TITLE
Senior VP & Treasurer
AGE
50
TENURE
17.5 yrs

Clarence Hamre

TITLE
Advisory Director
COMPENSATION
$22K
AGE
85
TENURE
10.4 yrs

Harold Warren

TITLE
Advisory Director
COMPENSATION
$2K
AGE
85
TENURE
10.8 yrs

Richard Pifer

TITLE
Regional Manager of Community Lending
TENURE
15.5 yrs
Board of Directors Tenure

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

9.8
Average Tenure
65
Average Age
  • The tenure for the Timberland Bancorp board of directors is about average.
Board of Directors

Jon Parker

TITLE
Chairman of the Board
COMPENSATION
$37K
AGE
70
TENURE
10.5 yrs

Mike Sand

TITLE
President
COMPENSATION
$460K
AGE
65
TENURE
25.8 yrs

Andrea Clinton

TITLE
Director
COMPENSATION
$31K
AGE
62
TENURE
22.8 yrs

Larry Goldberg

TITLE
Director
COMPENSATION
$35K
AGE
73
TENURE
9.8 yrs

Mike Stoney

TITLE
Director
COMPENSATION
$33K
AGE
50
TENURE
9.3 yrs

Jim Davis

TITLE
Director
COMPENSATION
$32K
AGE
72
TENURE
2.3 yrs

Kathy Leodler

TITLE
Director
COMPENSATION
$31K
AGE
63
TENURE
2.2 yrs

Dave Smith

TITLE
Independent Director
COMPENSATION
$34K
AGE
64
TENURE
19.5 yrs

Dan Yerrington

TITLE
Director
AGE
72
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Timberland Bancorp individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Jun 19 Sell Edward Foster Individual 07. Jun 19 07. Jun 19 -1,900 $25.64 $-48,716
X
Management checks
We assess Timberland 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. Timberland 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.

TSBK News

Simply Wall St News

Announcing: Timberland Bancorp (NASDAQ:TSBK) Stock Increased An Energizing 165% In The Last Five Years

(NASDAQ:TSBK) which saw its share price drive 165% higher over five years. … During five years of share price growth, Timberland Bancorp achieved compound earnings per share (EPS) growth of 35% per year. … We note that for Timberland Bancorp the TSR over the last 5 years was 198%, which is better than the share price return mentioned above.

Simply Wall St -

Timberland Bancorp, Inc. (NASDAQ:TSBK) Has Got What It Takes To Be An Attractive Dividend Stock

Some simple analysis can reduce the risk of holding Timberland Bancorp for its dividend, and we'll focus on the most important aspects below. … Timberland Bancorp has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Timberland Bancorp has grown its earnings per share at 35% per annum over the past five years. Earnings per share have grown rapidly, and the company is retaining a majority of its earnings. We think this is ideal from an investment perspective, if the company is able to reinvest these earnings effectively. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

Here's Why I Think Timberland Bancorp (NASDAQ:TSBK) Is An Interesting Stock

View our latest analysis for Timberland Bancorp How Fast Is Timberland Bancorp Growing? … Not all of Timberland Bancorp's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. … While we note Timberland Bancorp's EBIT margins were flat over the last year, revenue grew by a solid 13% to US$58m.

Simply Wall St -

Can We See Significant Institutional Ownership On The Timberland Bancorp, Inc. (NASDAQ:TSBK) Share Register?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Companies that used to be publicly owned tend to have lower insider ownership. … Timberland Bancorp is a smaller company with a market capitalization of US$249m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Is Timberland Bancorp, Inc.'s (NASDAQ:TSBK) CEO Paid At A Competitive Rate?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Mike Sand's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$233m, and pays its CEO total annual compensation worth US$460k.

Simply Wall St -

Did Business Growth Power Timberland Bancorp's (NASDAQ:TSBK) Share Price Gain of 172%?

One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During five years of share price growth, Timberland Bancorp achieved compound earnings per share (EPS) growth of 33% per year. … The EPS growth is more impressive than the yearly share price gain of 22% over the same period.

Simply Wall St -

What You Must Know About Timberland Bancorp, Inc.'s (NASDAQ:TSBK) Beta Value

The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Is Timberland Bancorp, Inc. (NASDAQ:TSBK) A Smart Pick For Income Investors?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, Timberland Bancorp, Inc. … Let's dig deeper into whether Timberland Bancorp should have a place in your portfolio.

Simply Wall St -

Why Timberland Bancorp, Inc.'s (NASDAQ:TSBK) CEO Pay Matters To You

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Mike Sand's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$177m, and pays its CEO total annual compensation worth US$442k.

Simply Wall St -

Timberland Bancorp Inc (NASDAQ:TSBK) Will Pay US$0.23 In Dividends

If you are interested in cashing in on Timberland Bancorp Inc's (NASDAQ:TSBK) upcoming dividend of US$0.23 per share, you only have 4 days left to buy the shares before its ex-dividend date, 15 November 2018, in time for dividends payable on the 30 November 2018. … Below, I will explain how holding Timberland Bancorp can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

TSBK Company Info

Description

Timberland Bancorp, Inc. operates as the bank holding company for Timberland Bank that provides various banking services in Washington. It offers various deposit products, including money market deposit accounts, checking accounts, regular savings accounts, and certificates of deposit. The company also provides one-to four-family residential, multi-family, commercial real estate, construction, custom and owner/builder construction, speculative one- to four-family construction, commercial construction, multi-family construction, land development construction, and land loans. In addition, it offers consumer loans comprising home equity lines of credit and second mortgage loans; and automobile loans, boat loans, motorcycle loans, recreational vehicle loans, savings account loans, and unsecured loans, as well as commercial business loans. The company operates 22 branches located in Grays Harbor, Pierce, Thurston, Kitsap, King, and Lewis counties in Washington. As of September 30, 2018, it operated 22 proprietary ATMs. Timberland Bancorp, Inc. was founded in 1915 and is based in Hoquiam, Washington.

Details
Name: Timberland Bancorp, Inc.
TSBK
Exchange: NasdaqGM
Founded: 1915
$213,279,875
8,337,759
Website: http://www.timberlandbank.com
Address: Timberland Bancorp, Inc.
624 Simpson Avenue,
Hoquiam,
Washington, 98550,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM TSBK Common Stock Nasdaq Global Market US USD 13. Jan 1998
Number of employees
Current staff
Staff numbers
0
Timberland Bancorp employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 23:47
End of day share price update: 2019/07/18 00:00
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


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.