OTCPK:ABNK

Stock Analysis Report

Executive Summary

AltaPacific Bancorp operates as the holding company for AltaPacific Bank that provides a range of banking products and services to small to middle-market businesses, professionals, and not-for-profit organizations in California.

Rewards

PE ratio (16.6x) is below the US market (18.9x)

Earnings are forecast to grow 8.52% per year

Earnings grew by 33.1% over the past year

Risk Analysis

Does not have a meaningful market cap ($84M)



Snowflake Analysis

Flawless balance sheet with solid track record.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-4.4%

ABNK

-0.1%

US Banks

1.7%

US Market


1 Year Return

2.9%

ABNK

15.5%

US Banks

23.6%

US Market

Return vs Industry: ABNK underperformed the US Banks industry which returned 21.7% over the past year.

Return vs Market: ABNK underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

ABNKIndustryMarket
7 Day-4.4%-0.1%1.7%
30 Day-0.5%-1.6%3.5%
90 Day-2.9%7.4%11.7%
1 Year2.9%2.9%18.9%15.5%26.2%23.6%
3 Year72.5%72.5%34.6%25.1%53.2%43.3%
5 Year86.0%86.0%86.0%65.1%75.5%56.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

16.61x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ABNK ($14.5) is trading above our estimate of fair value ($9.37)

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


Price To Earnings Ratio

PE vs Industry: ABNK is poor value based on its PE Ratio (16.6x) compared to the Banks industry average (12.8x).

PE vs Market: ABNK is good value based on its PE Ratio (16.6x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ABNK is overvalued based on its PB Ratio (1.6x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

8.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ABNK's forecast earnings growth (8.5% per year) is above the savings rate (2.7%).

Earnings vs Market: ABNK's earnings (8.5% per year) are forecast to grow slower than the US market (14.3% per year).

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

Revenue vs Market: Insufficient data to determine if ABNK's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if ABNK's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has AltaPacific Bancorp performed over the past 5 years?

5.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ABNK has high quality earnings.

Growing Profit Margin: ABNK's current net profit margins (25.6%) are higher than last year (19.4%).


Past Earnings Growth Analysis

Earnings Trend: ABNK's earnings have grown by 5.9% per year over the past 5 years.

Accelerating Growth: ABNK's earnings growth over the past year (33.1%) exceeds its 5-year average (5.9% per year).

Earnings vs Industry: ABNK earnings growth over the past year (33.1%) exceeded the Banks industry 27.1%.


Return on Equity

High ROE: ABNK's Return on Equity (9.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AltaPacific 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: ABNK has a low level of unsold assets or inventory.

Debt Coverage by Assets: ABNK's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: ABNK has an appropriate level of bad loans (0.01%)


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ABNK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ABNK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ABNK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ABNK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ABNK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

8.5yrs

Average management tenure


CEO

Charlie Hall (64yo)

9.8yrs

Tenure

0

Mr. Charles O. Hall, also known as Charlie, serves as the Chief Executive Officer of AltaPacific Bank and its parent company AltaPacific Bancorp. Mr. Hall served as the President of AltaPacific Bank and it ...


Management Age and Tenure

8.5yrs

Average Tenure

64yo

Average Age

Experienced Management: ABNK's management team is seasoned and experienced (8.5 years average tenure).


Board Age and Tenure

9.8yrs

Average Tenure

67yo

Average Age

Experienced Board: ABNK's board of directors are considered experienced (9.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Frank Basirico (65yo)

    President

    • Tenure: 5.5yrs
  • Charlie Hall (64yo)

    CEO & Director

    • Tenure: 9.8yrs
  • Allen Christenson (62yo)

    CFO & Executive VP

    • Tenure: 9.8yrs
  • Jerry Meyer

    Senior Vice President of Corporate Banking

    • Jeanne Reade

      Executive VP & Senior Credit Administrator

      • Sean Olhan

        Senior VP & Risk Officer

        • Sheila Moran

          Senior VP

          • Russ Scranton

            Senior VP & Regional Manager of the Inland Empire Region

            • Tenure: 8.5yrs
          • Shirley Law

            Executive VP & Chief Credit Officer

            • Tenure: 1.8yrs

          Board Members

          • Frank Basirico (65yo)

            President

            • Tenure: 5.5yrs
          • Charlie Hall (64yo)

            CEO & Director

            • Tenure: 9.8yrs
          • Tim Jorstad (67yo)

            Chairman of the Board

            • Tenure: 9.8yrs
          • Randall Verrue (75yo)

            Vice Chairman of the Board

            • Gary Deems (72yo)

              Director

              • Tenure: 5.5yrs
            • Rich Jett

              Director

              • Tenure: 7.8yrs
            • Randy DeCaminada

              Director

              • Tenure: 9.8yrs
            • Richard Dowd

              Director

              • Tenure: 9.8yrs
            • Robin Goble

              Director

              • Tenure: 9.8yrs
            • Harry Borak

              Director

              • Tenure: 7.8yrs

            Company Information

            AltaPacific Bancorp's company bio, employee growth, exchange listings and data sources


            Key Information

            • Name: AltaPacific Bancorp
            • Ticker: ABNK
            • Exchange: OTCPK
            • Founded: 2006
            • Industry: Regional Banks
            • Sector: Banks
            • Market Cap: US$83.983m
            • Shares outstanding: 5.79m
            • Website: https://www.apbconnect.com

            Location

            • AltaPacific Bancorp
            • 4845 Old Redwood Highway
            • Santa Rosa
            • California
            • 95403
            • United States

            Listings

            TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
            ABNKOTCPK (Pink Sheets LLC)YesCommon StockUSUSDSep 2010

            Biography

            AltaPacific Bancorp operates as the holding company for AltaPacific Bank that provides a range of banking products and services to small to middle-market businesses, professionals, and not-for-profit organizations in California. It offers various deposit products, including checking accounts, savings accounts, money market accounts, certificates of deposit, attorney client trust accounts, and individual retirement accounts. The company also provides short term unsecured, term, commercial and residential construction, small business administration, land, machinery and equipment, working capital, installment, and commercial real estate loans; marketable securities, home equity lines of credit, and real estate secured lines of credit; business acquisition and expansion, and inventory financing services; and debt restructuring services. In addition, it offers overdraft protection; debit and credit cards; cash management, wire transfer, check imaging, and online banking services; and re-order checks. The company has branch offices in Ontario, Covina, Temecula, Riverside, and San Bernardino, California. AltaPacific Bancorp was founded in 2006 and is headquartered in Santa Rosa, California. 


            Company Analysis and Financial Data Status

            All financial data provided by Standard & Poor's Capital IQ.
            DataLast Updated (UTC time)
            Company Analysis2019/11/02 00:13
            End of Day Share Price2019/10/31 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.