OTCPK:SBAZ

Stock Analysis Report

Executive Summary

State Bank Corp. operates as the holding company for Mohave State Bank that provides various banking services to individuals, businesses, and professionals in the United States.

Snowflake

Fundamentals

Flawless balance sheet with acceptable track record.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

5.0%

SBAZ

2.9%

US Banks

0.07%

US Market


1 Year Return

16.9%

SBAZ

8.6%

US Banks

8.9%

US Market

Return vs Industry: SBAZ exceeded the US Banks industry which returned 8.6% over the past year.

Return vs Market: SBAZ exceeded the US Market which returned 8.9% over the past year.


Shareholder returns

SBAZIndustryMarket
7 Day5.0%2.9%0.07%
30 Day32.6%3.4%-0.3%
90 Day40.2%2.1%-1.6%
1 Year19.6%16.9%11.8%8.6%11.3%8.9%
3 Year174.2%159.0%54.8%44.1%46.3%36.8%
5 Year275.5%245.0%70.2%51.6%62.1%44.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is State Bank undervalued compared to its fair value and its price relative to the market?

16.06x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SBAZ ($17.25) is trading above our estimate of fair value ($7.78)

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


Price To Earnings Ratio

PE vs Industry: SBAZ is poor value based on its PE Ratio (16.1x) compared to the Banks industry average (12.6x).

PE vs Market: SBAZ is good value based on its PE Ratio (16.1x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SBAZ is overvalued based on its PB Ratio (2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

1.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBAZ's forecast earnings growth (1.8% per year) is below the savings rate (2.7%).

Earnings vs Market: SBAZ's earnings (1.8% per year) are forecast to grow slower than the US market (14.5% per year).

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

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

High Growth Revenue: Insufficient data to determine if SBAZ'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 SBAZ's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has State Bank performed over the past 5 years?

16.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SBAZ's earnings have grown by 16.6% per year over the past 5 years.

Accelerating Growth: SBAZ's earnings growth over the past year (17.7%) exceeds its 5-year average (16.6% per year).

Earnings vs Industry: SBAZ earnings growth over the past year (17.7%) underperformed the Banks industry 29.7%.


Return on Equity

High ROE: SBAZ's Return on Equity (12.3%) is considered low.


Return on Assets

ROA vs Industry: SBAZ has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate SBAZ's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is State 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

Inventory Level: SBAZ has a low level of unsold assets or inventory.

Debt Coverage by Assets: SBAZ's debt is covered by short term assets (assets are 4.392620x debt).


Financial Institutions Analysis

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

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

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

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

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

Level of Bad Loans: SBAZ has an appropriate level of bad loans (0.59%)


Next Steps

Dividend

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

1.74%

Current Dividend Yield


Dividend Yield vs Market

company1.7%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: SBAZ's dividend (1.74%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: SBAZ's dividend (1.74%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: SBAZ's dividend payments have been volatile in the past 10 years.

Growing Dividend: SBAZ's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.1%), SBAZ'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

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

10.8yrs

Average board tenure


CEO

Brian Riley (54yo)

0yrs

Tenure

0

Mr. Brian M. Riley serves as the Chief Executive Officer and President of State Bank Corp. Mr. Riley serves as the Chief Executive Officer and President of State Bank of Arizona, a subsidiary of State Bank ...


Board Age and Tenure

10.8yrs

Average Tenure

55yo

Average Age

Experienced Board: SBAZ's board of directors are seasoned and experienced ( 10.8 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

  • Brian Riley (54yo)

    President

    • Tenure: 0yrs
  • Monica Hall

    Senior VP & Construction Loan Manager

    • Tenure: 0yrs
  • Dennis Krey

    Senior VP & Branch Manager of Lake Havasu North

    • Tenure: 0yrs
  • Karen Gibbs

    Senior VP

    • Tenure: 0yrs
  • Craig Wenner (43yo)

    Executive VP & CFO

    • Tenure: 9yrs
  • Lisa Riddle

    Senior Vice President of Strategic Planning & Analysis

    • Tenure: 0yrs
  • Randy Austin

    Executive VP & COO

    • Tenure: 3.3yrs
  • Cindy Senff

    Senior VP & Compliance Officer

    • Tenure: 0yrs
  • Steve Burton

    Executive VP & Senior Lending Officer

    • Tenure: 0yrs
  • Tom Ender

    Senior VP & Mortgage Division Manager

    • Tenure: 0yrs

Board Members

  • Brian Riley (54yo)

    President

    • Tenure: 0yrs
  • Chuck Casson (56yo)

    Director

    • Tenure: 10.8yrs
  • Jim Baker (64yo)

    Chairman of the Board

    • Tenure: 11.8yrs
  • Thomas Schrimsher

    Director Emeritus

    • Tenure: 0yrs
  • John Herzfeld

    Director Emeritus

    • Tenure: 0yrs
  • William Dooley

    Director Emeritus

    • Tenure: 0yrs
  • Linda Binder

    Director

    • Tenure: 15.8yrs
  • Jason Anderson (47yo)

    Director

    • Tenure: 4.8yrs
  • Mark Nexsen (66yo)

    Director

    • Tenure: 3.8yrs
  • Brad Fain (49yo)

    Director

    • Tenure: 1.8yrs

Company Information

State Bank Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: State Bank Corp.
  • Ticker: SBAZ
  • Exchange: OTCPK
  • Founded: 1991
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$139.609m
  • Shares outstanding: 8.09m
  • Website: https://www.mohavestbank.com

Number of Employees


Location

  • State Bank Corp.
  • 1771 McCulloch Boulevard
  • Lake Havasu City
  • Arizona
  • 86403
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBAZOTCPK (Pink Sheets LLC)YesCommon StockUSUSDMar 2005

Biography

State Bank Corp. operates as the holding company for Mohave State Bank that provides various banking services to individuals, businesses, and professionals in the United States. The company offers checking ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 23:55
End of Day Share Price2019/10/22 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.