OTCPK:SRYB

Stock Analysis Report

Executive Summary

Surrey Bancorp operates as the bank holding company for Surrey Bank & Trust that provides various banking products and services for individuals and small to medium sized businesses in Surry County, North Carolina and Patrick County, and Virginia and the surrounding area.

Snowflake

Fundamentals

Excellent balance sheet with proven track record.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

SRYB

1.4%

US Banks

1.0%

US Market


1 Year Return

-1.2%

SRYB

0.2%

US Banks

6.7%

US Market

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

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


Share holder returns

SRYBIndustryMarket
7 Day0%1.4%1.0%
30 Day-0.1%-2.6%-1.8%
90 Day-2.4%0.8%-1.8%
1 Year2.3%-1.2%3.1%0.2%9.1%6.7%
3 Year69.7%50.9%52.0%41.5%46.1%36.6%
5 Year13.7%-2.7%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

12.01x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: SRYB ($14.35) is trading above our estimate of fair value ($13.31)

Significantly Undervalued: SRYB is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: SRYB is good value based on its PE Ratio (12x) compared to the Banks industry average (12.5x).

PE vs Market: SRYB is good value based on its PE Ratio (12x) compared to the US market (17.5x).


Price Based on Expected Growth

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


Price Based on Value of Assets

PB vs Industry: SRYB is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

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

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: SRYB's forecast earnings growth (3% per year) is above the savings rate (2.7%).

Earnings vs Market: SRYB's earnings (3% per year) are forecast to grow slower than the US market (14.5% per year).

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

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

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


Earnings per Share Growth Estimates


Future Return on Equity

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


Next Steps

Past Performance

How has Surrey Bancorp performed over the past 5 years?

9.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SRYB's earnings have grown by 9.2% per year over the past 5 years.

Accelerating Growth: SRYB's earnings growth over the past year (52%) exceeds its 5-year average (9.2% per year).

Earnings vs Industry: SRYB earnings growth over the past year (52%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: SRYB's Return on Equity (10.7%) is considered low.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is Surrey 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: SRYB has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if SRYB's debt is covered by short term assets.


Financial Institutions Analysis

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

Allowance for Bad Loans: SRYB has a low allowance for bad loans.

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

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

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

Level of Bad Loans: SRYB has an appropriate level of bad loans (1.89%)


Next Steps

Dividend

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

3.48%

Current Dividend Yield


Dividend Yield vs Market

company3.5%marketbottom25%1.5%markettop25%3.8%industryaverage2.5%forecastin3Yearsn/a

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: SRYB's dividend (3.48%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: SRYB's dividend (3.48%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: SRYB has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SRYB's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (40.6%), SRYB'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 Surrey Bancorp's salary, the management and board of directors tenure and is there insider trading?

16.8yrs

Average management tenure


CEO

Ted Ashby (65yo)

16.8yrs

Tenure

US$127,844

Compensation

Mr. Edward C. Ashby, III has been as President, Chief Executive Officer and Director of Surrey Bancorp since 2003 and serves as President and Chief Executive Officer of Surrey Bank & Trust. Mr. Ashby ha ...


CEO Compensation Analysis

Compensation vs. Market: Ted's total compensation ($USD0.00) is too low to compare against companies of similar size in the US market ($USD495.80K).

Compensation vs Earnings: Ted's compensation has been consistent with company performance over the past year.


Management Age and Tenure

16.8yrs

Average Tenure

62yo

Average Age

Experienced Management: SRYB's management team is seasoned and experienced (16.8 years average tenure).


Board Age and Tenure

16.8yrs

Average Tenure

66yo

Average Age

Experienced Board: SRYB's board of directors are seasoned and experienced ( 16.8 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

  • Mark Towe (62yo)

    CFO, Senior VP of Finance & Operations and Treasurer

    • Tenure: 16.8yrs
    • Compensation: US$96.37k
  • Ted Ashby (65yo)

    President

    • Tenure: 16.8yrs
    • Compensation: US$127.84k
  • Pedro Pequeno (52yo)

    Senior VP & Chief Lending Officer

    • Tenure: 16.8yrs
    • Compensation: US$224.75k
  • Linda Owen

    Corporate Secretary

    • Tenure: 0yrs

Board Members

  • Ted Ashby (65yo)

    President

    • Tenure: 16.8yrs
    • Compensation: US$127.84k
  • Buddy Williams (82yo)

    Director

    • Tenure: 16.8yrs
    • Compensation: US$14.00k
  • Tom Webb (68yo)

    Director

    • Tenure: 16.8yrs
    • Compensation: US$14.72k
  • Gene Rees (68yo)

    Vice Chairman of the Board

    • Tenure: 7.8yrs
    • Compensation: US$15.59k
  • Robert Moody (65yo)

    Chairman of the Board

    • Tenure: 7.8yrs
    • Compensation: US$15.86k
  • Elizabeth Lovill (64yo)

    Director

    • Tenure: 16.8yrs
    • Compensation: US$15.34k
  • Tamra Thomas (66yo)

    Director

    • Tenure: 7.3yrs
    • Compensation: US$6.50k

Company Information

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


Key Information

  • Name: Surrey Bancorp
  • Ticker: SRYB
  • Exchange: OTCPK
  • Founded: 2003
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$59.810m
  • Shares outstanding: 4.17m
  • Website: https://www.surreybank.com

Number of Employees


Location

  • Surrey Bancorp
  • 145 North Renfro Street
  • Mount Airy
  • North Carolina
  • 27030
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SRYBOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDFeb 1997

Biography

Surrey Bancorp operates as the bank holding company for Surrey Bank & Trust that provides various banking products and services for individuals and small to medium sized businesses in Surry County, North C ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 01:24
End of Day Share Price2019/10/07 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.

© 2018 SIMPLY WALL STREET PTY LTD, COMMUNITY DESIGN 2845206, US DESIGN PATENT #29/544/281, EUROPEAN DESIGN REGISTRATION #2845206, STANDARD & POOR’S FINANCIAL SERVICES LLC. ALL RIGHTS RESERVED.

Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Copyright © 2018, Standard & Poor’s Financial Services LLC. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber’s or others’ use of S&P Capital IQ. (2018)