OTCPK:GNRV

Stock Analysis Report

Grand River Commerce

Executive Summary

Grand River Commerce, Inc. operates as the bank holding company for Grand River Bank that provides various commercial and consumer banking services to businesses, professionals, and residents.

Snowflake

Fundamentals

Adequate balance sheet with acceptable track record.

Share Price & News

How has Grand River Commerce's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.1%

GNRV

1.4%

US Banks

1.0%

US Market


1 Year Return

0%

GNRV

0.2%

US Banks

6.7%

US Market

Return vs Industry: GNRV underperformed the US Banks industry which returned 0.2% over the past year.

Return vs Market: GNRV underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

GNRVIndustryMarket
7 Day1.1%1.4%1.0%
30 Day-2.4%-2.6%-1.8%
90 Day-12.7%0.8%-1.8%
1 Year0%0%3.1%0.2%9.1%6.7%
3 Year9.7%9.7%52.0%41.5%46.1%36.6%
5 Year42.5%42.5%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

How volatile is Grand River Commerce's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Grand River Commerce undervalued compared to its fair value and its price relative to the market?

32.63x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: Insufficient data to calculate GNRV's fair value to establish if it is undervalued.

Significantly Undervalued: Insufficient data to calculate GNRV's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: GNRV is poor value based on its PE Ratio (32.6x) compared to the Banks industry average (12.5x).

PE vs Market: GNRV is poor value based on its PE Ratio (32.6x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: GNRV is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Grand River Commerce forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

26.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GNRV's forecast earnings growth (26% per year) is above the savings rate (2.7%).

Earnings vs Market: GNRV's earnings (26% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

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

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


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Grand River Commerce performed over the past 5 years?

10.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: GNRV has become profitable over the past 5 years, growing earnings by 10% per year.

Accelerating Growth: GNRV's earnings growth over the past year (92.7%) exceeds its 5-year average (10% per year).

Earnings vs Industry: GNRV earnings growth over the past year (92.7%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: GNRV's Return on Equity (3.3%) is considered low.


Return on Assets

ROA vs Industry: GNRV'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 GNRV's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Grand River Commerce'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: GNRV has a low level of unsold assets or inventory.

Debt Coverage by Assets: GNRV's debt is covered by short term assets (assets are 2.110950x debt).


Financial Institutions Analysis

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

Allowance for Bad Loans: Insufficient data to determine if GNRV has a sufficient allowance for bad loans.

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

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

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

Level of Bad Loans: Insufficient data to determine if GNRV has an appropriate level of bad loans.


Next Steps

Dividend

What is Grand River Commerce's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

Growing Dividend: Insufficient data to determine if GNRV'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 GNRV'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 Grand River Commerce's salary, the management and board of directors tenure and is there insider trading?

11.8yrs

Average management tenure


CEO

Bob Bilotti (54yo)

0yrs

Tenure

US$111,019

Compensation

Mr. Robert P. Bilotti serves as the Chairman, Chief Executive Officer and President of Grand River Commerce, Inc. Mr. Bilotti has spent the greater part of his career in the hotel industry, although he is  ...


Management Age and Tenure

11.8yrs

Average Tenure

54yo

Average Age

Experienced Management: GNRV's management team is seasoned and experienced (11.8 years average tenure).


Board Age and Tenure

12.8yrs

Average Tenure

67yo

Average Age

Experienced Board: GNRV's board of directors are seasoned and experienced ( 12.8 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


Management Team

  • Jerry Sytsma (49yo)

    VP & Corporate Secretary

    • Tenure: 12.8yrs
  • Jeff Elders (50yo)

    Treasurer

    • Tenure: 12.8yrs
  • Bob Bilotti (54yo)

    Chairman

    • Tenure: 0yrs
    • Compensation: US$111.02k
  • Liz Bracken (56yo)

    Chief Financial Officer

    • Tenure: 12.8yrs
    • Compensation: US$110.87k
  • Mark Martis (55yo)

    Chief Lending Officer & Executive VP of Grand River Commerce Bank.

    • Tenure: 11.8yrs
    • Compensation: US$142.88k
  • Brent Kehrwecker

    Vice President of Commercial Banking of Grand River Bank

    • Tenure: 8.5yrs
  • Jennifer Mann

    VP & Controller

    • Tenure: 0yrs
  • Ryan Wolthuis

    VP & Commercial Lending Officer

    • Tenure: 0yrs
  • Julie Steinbeck

    VP, Credit Administration

    • Tenure: 0yrs
  • Marcia Borowka

    Senior Vice President of Retail Banking of Grand River Bank

    • Tenure: 0yrs

Board Members

  • Cheryl Blouw (72yo)

    Director

    • Tenure: 12.8yrs
  • Pat Gill (68yo)

    Director

    • Tenure: 7.6yrs
  • Roger Roode (78yo)

    Director and Director of Grand Commerce Bank

    • Tenure: 12.8yrs
  • Jerry Sytsma (49yo)

    VP & Corporate Secretary

    • Tenure: 12.8yrs
  • Randy Hartgerink (77yo)

    Director

    • Tenure: 8.4yrs
  • Jeff Elders (50yo)

    Treasurer

    • Tenure: 12.8yrs
  • Rick Blauw (51yo)

    Director

    • Tenure: 0yrs
  • Bob Bilotti (54yo)

    Chairman

    • Tenure: 0yrs
    • Compensation: US$111.02k
  • Thomas Jeakle (67yo)

    Director and Director of Grand River Bank

    • Tenure: 7.8yrs
  • Margaret Murphy

    Director & Director of Grand River Bank

    • Tenure: 0yrs

Company Information

Grand River Commerce, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Grand River Commerce, Inc.
  • Ticker: GNRV
  • Exchange: OTCPK
  • Founded: 2006
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$41.750m
  • Shares outstanding: 6.73m
  • Website: https://www.grandriverbank.com

Location

  • Grand River Commerce, Inc.
  • 4471 Wilson Avenue SW
  • Grandville
  • Michigan
  • 49418
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GNRVOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJun 2009

Biography

Grand River Commerce, Inc. operates as the bank holding company for Grand River Bank that provides various commercial and consumer banking services to businesses, professionals, and residents. The company  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 00:03
End of Day Share Price2019/10/14 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.