OTCPK:HFBK

Stock Analysis Report

Executive Summary

Harford Bank provides commercial and retail banking products and services for individuals, businesses, and governmental units in Harford and Cecil counties, and surrounding areas of northeastern Maryland.

Snowflake

Fundamentals

Excellent balance sheet and fair value.

Risks

  • Harford Bank is not covered by any analysts.

Similar Companies

Share Price & News

How has Harford Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.4%

OTCPK:HFBK

2.4%

US Banks

2.9%

US Market


1 Year Return

4.2%

OTCPK:HFBK

-14.8%

US Banks

0.2%

US Market

HFBK outperformed the Banks industry which returned -15.3% over the past year.

HFBK outperformed the Market in United States of America which returned -0.7% over the past year.


Share holder returns

HFBKIndustryMarket
7 Day-0.4%2.4%2.9%
30 Day-3.7%-6.3%-2.3%
90 Day-1.2%-2.1%3.1%
1 Year6.1%4.2%-12.4%-14.8%2.4%0.2%
3 Year24.2%15.9%41.7%32.0%41.7%32.4%
5 Year65.4%45.3%52.2%35.7%55.1%37.9%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Harford Bank undervalued based on future cash flows and its price relative to the stock market?

11.77x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Harford Bank's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Harford Bank's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Harford Bank is good value based on earnings compared to the US Banks industry average.

Harford Bank is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Harford Bank, we can't assess if its growth is good value.


Price Based on Value of Assets

Harford Bank is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

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

8.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if Harford Bank is high growth as no revenue estimate data is available.

Harford Bank's earnings are expected to grow by 8.7% yearly, however this is not considered high growth (20% yearly).

Unable to compare Harford Bank's revenue growth to the United States of America market average as no estimate data is available.

Harford Bank's earnings growth is positive but not above the United States of America market average.

Harford Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Harford Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Harford Bank performed over the past 5 years?

5.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Harford Bank's year on year earnings growth rate has been positive over the past 5 years.

Harford Bank's 1-year earnings growth exceeds its 5-year average (40.5% vs 5.1%)

Harford Bank's earnings growth has exceeded the US Banks industry average in the past year (40.5% vs 33.2%).


Return on Equity

Harford Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Harford Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Harford Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Harford Bank'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

Information is not available.

Information is not available.


Financial Institutions Analysis

Harford Bank has an acceptable proportion of non-loan assets held.

Harford Bank has a low allowance for bad loans.

Harford Bank's liabilities are made up of primarily low risk sources of funding.

Harford Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at Harford Bank are broadly funded by customer deposits.

Harford Bank has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is Harford Bank's current dividend yield, its reliability and sustainability?

2.39%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Harford Bank before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Harford Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Harford Bank's dividend is below the markets top 25% of dividend payers in United States of America (3.85%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (4.7x 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.


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Chuck Jacobs (65yo)

19.8yrs

Tenure

US$285,581

Compensation

Mr. Charles H. Jacobs, Jr., also known as Chuck, is President since October 1, 1999 and Chief Executive Officer of Harford Bank's (the "Bank"). Mr. Jacobs has served as a Director of the Bank since 1989. H ...


CEO Compensation Analysis

Insufficient data for Chuck to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.

Chuck's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

5.0yrs

Average Tenure

57yo

Average Age

The average tenure for the Harford Bank management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

19.4yrs

Average Tenure

61yo

Average Age

The average tenure for the Harford Bank board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

More shares have been bought than sold by Harford Bank individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$2,61016 Jul 19
Bryan Kelly
EntityIndividual
Shares90
Max PriceUS$29.00
BuyUS$56,52012 Jun 19
Timothy Hopkins
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,000
Max PriceUS$28.26
SellUS$56,52012 Jun 19
Timothy Hopkins
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,000
Max PriceUS$28.26
BuyUS$2,89010 May 19
Laura Henninger
EntityIndividual
Shares100
Max PriceUS$28.90
SellUS$11,30016 Apr 19
C. Tapscott
EntityIndividual
Role
Member of the Board of Directors
Director
Shares391
Max PriceUS$28.90
BuyUS$14,45212 Apr 19
Timothy Hopkins
EntityIndividual
Role
Member of the Board of Directors
Director
Shares500
Max PriceUS$28.99
BuyUS$1,71218 Dec 18
Bryan Kelly
EntityIndividual
Shares60
Max PriceUS$28.54
SellUS$68,93026 Oct 18
C. Tapscott
EntityIndividual
Role
Member of the Board of Directors
Director
Shares2,260
Max PriceUS$30.50

Ownership Breakdown


Management Team

  • Chuck Jacobs (65yo)

    President

    • Tenure: 19.8yrs
    • Compensation: US$285.58k
  • Sandra Osborn (55yo)

    Senior Vice President of Operations

    • Tenure: 0.0yrs
  • Mike Allen (57yo)

    Executive VP

    • Tenure: 0.3yrs
    • Compensation: US$215.97k
  • Scott Emmer

    Senior VP & Chief Credit Officer

    • Tenure: 0.0yrs
  • Neil Christ (61yo)

    Senior VP & CFO

    • Tenure: 7.7yrs
    • Compensation: US$177.19k
  • Lorrie Schenning (50yo)

    Senior VP & Chief Lending Officer

    • Tenure: 2.3yrs
    • Compensation: US$200.49k
  • Calvin Tull

    Vice President of Human Resource

    • Tenure: 0.0yrs

Board Members

  • Henry Holloway (59yo)

    Director

    • Tenure: 18.8yrs
    • Compensation: US$20.30k
  • Richard Foard (62yo)

    Director

    • Tenure: 20.2yrs
    • Compensation: US$19.04k
  • Stephen Nolan (54yo)

    Director

    • Tenure: 19.2yrs
    • Compensation: US$18.90k
  • Carolyn Evans (60yo)

    Director

    • Tenure: 19.2yrs
    • Compensation: US$20.47k
  • Chuck Jacobs (65yo)

    President

    • Tenure: 19.8yrs
    • Compensation: US$285.58k
  • Tony Bennett (67yo)

    Director

    • Tenure: 19.6yrs
    • Compensation: US$21.48k
  • Timothy Hopkins (60yo)

    Director

    • Tenure: 12.5yrs
    • Compensation: US$18.81k
  • John Karas (67yo)

    Chairman of the Board

    • Tenure: 19.7yrs
    • Compensation: US$23.29k
  • C. Tapscott (64yo)

    Director

    • Tenure: 19.6yrs
    • Compensation: US$21.94k
  • Mike Allen (57yo)

    Executive VP

    • Tenure: 0.3yrs
    • Compensation: US$215.97k

Company Information

Harford Bank's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Harford Bank
  • Ticker: HFBK
  • Exchange: OTCPK
  • Founded: 1964
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$40.272m
  • Shares outstanding: 1.42m
  • Website: https://www.harfordbank.com

Number of Employees


Location

  • Harford Bank
  • 8 West Bel Air Avenue
  • Aberdeen
  • Maryland
  • 21001
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HFBKOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJul 1995

Biography

Harford Bank provides commercial and retail banking products and services for individuals, businesses, and governmental units in Harford and Cecil counties, and surrounding areas of northeastern Maryland.  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/21 23:36
End of Day Share Price2019/08/19 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.