Eastern Michigan Financial
Market Cap
US$33.0m
Last Updated
2020/09/22 05:54 UTC
Data Sources
Company Financials
Executive Summary
Eastern Michigan Financial Corporation operates as the bank holding company for Eastern Michigan Bank that provides retail and commercial banking services in Michigan. More Details
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet and good value.
Share Price & News
How has Eastern Michigan Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: EFIN has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
3.6%
EFIN
-2.5%
US Banks
-1.5%
US Market
1 Year Return
1.9%
EFIN
-26.7%
US Banks
12.9%
US Market
Return vs Industry: EFIN exceeded the US Banks industry which returned -26.7% over the past year.
Return vs Market: EFIN underperformed the US Market which returned 12.9% over the past year.
Shareholder returns
| EFIN | Industry | Market | |
|---|---|---|---|
| 7 Day | 3.6% | -2.5% | -1.5% |
| 30 Day | 2.3% | 0.7% | -1.8% |
| 90 Day | 1.9% | -2.8% | 6.6% |
| 1 Year | 6.0%1.9% | -24.1%-26.7% | 15.4%12.9% |
| 3 Year | 40.9%26.2% | -15.2%-22.2% | 39.6%30.2% |
| 5 Year | 76.8%50.0% | 23.6%8.4% | 93.4%71.7% |
Price Volatility Vs. Market
How volatile is Eastern Michigan Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Eastern Michigan Financial undervalued compared to its fair value and its price relative to the market?
33.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: EFIN ($27) is trading below our estimate of fair value ($40.8)
Significantly Below Fair Value: EFIN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: EFIN is good value based on its PE Ratio (8.2x) compared to the US Banks industry average (9.7x).
PE vs Market: EFIN is good value based on its PE Ratio (8.2x) compared to the US market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate EFIN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: EFIN's PB Ratio (0.8x) is in line with the US Banks industry average.
Next Steps
Future Growth
How is Eastern Michigan Financial forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
27.2%
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Eastern Michigan Financial has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether Eastern Michigan Financial is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on theOTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Eastern Michigan Financial's filings and announcementshere.
- Explore growth companies in the Banks industry.
Past Performance
How has Eastern Michigan Financial performed over the past 5 years?
18.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: EFIN has high quality earnings.
Growing Profit Margin: EFIN's current net profit margins (29.2%) are higher than last year (28.8%).
Past Earnings Growth Analysis
Earnings Trend: EFIN's earnings have grown by 18% per year over the past 5 years.
Accelerating Growth: EFIN's earnings growth over the past year (5.6%) is below its 5-year average (18% per year).
Earnings vs Industry: EFIN earnings growth over the past year (5.6%) exceeded the Banks industry -3%.
Return on Equity
High ROE: EFIN's Return on Equity (9.7%) is considered low.
Next Steps
Financial Health
How is Eastern Michigan Financial'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
Financial Institutions Analysis
Asset Level: EFIN's Assets to Equity ratio (10.7x) is moderate.
Allowance for Bad Loans: EFIN has a low allowance for bad loans (91%).
Low Risk Liabilities: 97% of EFIN's liabilities are made up of primarily low risk sources of funding.
Loan Level: EFIN has an appropriate level of Loans to Assets ratio (55%).
Low Risk Deposits: EFIN's Loans to Deposits ratio (62%) is appropriate.
Level of Bad Loans: EFIN has an appropriate level of bad loans (1%).
Next Steps
Dividend
What is Eastern Michigan Financial current dividend yield, its reliability and sustainability?
3.70%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: EFIN's dividend (3.7%) is higher than the bottom 25% of dividend payers in the US market (1.66%).
High Dividend: EFIN's dividend (3.7%) is low compared to the top 25% of dividend payers in the US market (4.7%).
Stability and Growth of Payments
Stable Dividend: EFIN has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: EFIN's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (30.3%), EFIN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.8yrs
Average board tenure
CEO
Will Oldford (55 yo)
0.58
Tenure
Mr. William G. Oldford, Jr., has been President and Director at Eastern Michigan Financial Corporation since October 2015 and also serves as its Chief Executive Officer since February 2020. Mr. Oldford has ...
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 0.58yr | no data | 0.37% $ 122.2k | |
| Chairman | no data | no data | 1.01% $ 334.5k | |
| Director | no data | no data | 0.28% $ 93.3k | |
| Director | no data | no data | 0.42% $ 138.3k | |
| Vice Chairman | 7.42yrs | no data | 1.9% $ 627.2k | |
| Director | 18.67yrs | no data | 0.67% $ 221.9k | |
| Director | no data | no data | 0.49% $ 160.8k | |
| Director | no data | no data | 0.89% $ 292.7k | |
| Director | 1.42yrs | no data | no data | |
| Director | 0.67yr | no data | no data |
4.8yrs
Average Tenure
Experienced Board: EFIN's board of directors are considered experienced (4.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Eastern Michigan Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Eastern Michigan Financial Corporation
- Ticker: EFIN
- Exchange: OTCPK
- Founded: 1895
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$32.996m
- Shares outstanding: 1.22m
Location
- Eastern Michigan Financial Corporation
- 65 North Howard Avenue
- Croswell
- Michigan
- 48422
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| EFIN | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Mar 2003 |
Biography
Eastern Michigan Financial Corporation operates as the bank holding company for Eastern Michigan Bank that provides retail and commercial banking services in Michigan. The company offers checking, savings, ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/22 05:54 |
| End of Day Share Price | 2020/09/21 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.