W.T.B. Financial
Market Cap
US$967.0m
Last Updated
2020/02/25 00:45 UTC
Data Sources
Company Financials
Executive Summary
W.T.B. Financial Corporation operates as the bank holding company for Washington Trust Bank that provides banking, fiduciary, asset management, mortgage banking, and other financial services to corporate and individual customers in Washington, Idaho, and Oregon.
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet and fair value.
Similar Companies
Share Price & News
How has W.T.B. Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WTBF.B has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0%
WTBF.B
-3.4%
US Banks
-4.2%
US Market
1 Year Return
1.6%
WTBF.B
6.9%
US Banks
14.0%
US Market
Return vs Industry: WTBF.B underperformed the US Banks industry which returned 6.9% over the past year.
Return vs Market: WTBF.B underperformed the US Market which returned 14% over the past year.
Shareholder returns
| WTBF.B | Industry | Market | |
|---|---|---|---|
| 7 Day | 0% | -3.4% | -4.2% |
| 30 Day | -0.8% | -2.8% | -1.8% |
| 90 Day | -0.8% | -4.1% | 2.6% |
| 1 Year | 3.6%1.6% | 10.0%6.9% | 16.3%14.0% |
| 3 Year | 43.5%37.5% | 19.6%11.0% | 43.2%34.0% |
| 5 Year | 118.4%105.4% | 66.5%47.6% | 65.9%47.6% |
Price Volatility Vs. Market
How volatile is W.T.B. Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is W.T.B. Financial undervalued compared to its fair value and its price relative to the market?
9.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WTBF.B ($378) is trading below our estimate of fair value ($417.85)
Significantly Below Fair Value: WTBF.B is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: WTBF.B is good value based on its PE Ratio (11.6x) compared to the Banks industry average (12.4x).
PE vs Market: WTBF.B is good value based on its PE Ratio (11.6x) compared to the US market (17.7x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate WTBF.B's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: WTBF.B is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is W.T.B. Financial forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
2.2%
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 W.T.B. 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 W.T.B. 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 the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access W.T.B. Financial's filings and announcements here.
- Explore growth companies in the Banks industry.
Past Performance
How has W.T.B. Financial performed over the past 5 years?
15.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WTBF.B has a high level of non-cash earnings.
Growing Profit Margin: WTBF.B's current net profit margins (27.7%) are lower than last year (29.2%).
Past Earnings Growth Analysis
Earnings Trend: WTBF.B's earnings have grown by 15.1% per year over the past 5 years.
Accelerating Growth: WTBF.B's earnings growth over the past year (0.3%) is below its 5-year average (15.1% per year).
Earnings vs Industry: WTBF.B earnings growth over the past year (0.3%) underperformed the Banks industry 12%.
Return on Equity
High ROE: WTBF.B's Return on Equity (12%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is W.T.B. 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
Inventory Level: WTBF.B has a low level of unsold assets or inventory.
Debt Coverage by Assets: WTBF.B's debt is covered by short term assets (assets are 4x debt).
Financial Institutions Analysis
Asset Level: WTBF.B's level of assets compared to its equity is moderate.
Allowance for Bad Loans: WTBF.B has a sufficient allowance for bad loans.
Low Risk Liabilities: WTBF.B's liabilities are made up of primarily low risk sources of funding.
Loan Level: WTBF.B has an acceptable proportion of non-loan assets held.
Low Risk Deposits: WTBF.B's loans are broadly funded by customer deposits.
Level of Bad Loans: WTBF.B has an appropriate level of bad loans (0.3%)
Next Steps
Dividend
What is W.T.B. Financial's current dividend yield, its reliability and sustainability?
1.85%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: WTBF.B's dividend (1.85%) is higher than the bottom 25% of dividend payers in the US market (1.48%).
High Dividend: WTBF.B's dividend (1.85%) is low compared to the top 25% of dividend payers in the US market (3.77%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, WTBF.B has been paying a dividend for less than 10 years.
Growing Dividend: WTBF.B's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (21.5%), WTBF.B'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?
12.1yrs
Average management tenure
CEO
Pete Stanton (62yo)
23.1yrs
Tenure
Mr. Peter F. Stanton, also known as Pete, has served as Chairman of the Board and Chief Executive Officer of Washington Trust Bank (“Bank”) since March of 2000. Prior to this, Mr. Stanton was President, Ch ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 23.1yrs | no data | no data | |
| Executive VP | 0yrs | no data | no data | |
| Senior VP & CFO | 12.1yrs | no data | no data | |
| Financial Accountant III | 10.9yrs | no data | no data | |
| Senior VP | 0yrs | no data | no data | |
| Senior Vice President | 0yrs | no data | no data | |
| Senior Vice President of Marketing & Development - Washington Trust Bank | 0yrs | no data | no data | |
| Senior Vice President of Credit Administration-Washington Trust Bank | 0yrs | no data | no data | |
| President - Western Washington Region & EVP - Commercial -Washington Trust Bank | 0yrs | no data | no data | |
| President of Oregon Region of Commercial Banking-Washington Trust Bank | 0yrs | no data | no data |
12.1yrs
Average Tenure
Experienced Management: WTBF.B's management team is seasoned and experienced (12.1 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
W.T.B. Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: W.T.B. Financial Corporation
- Ticker: WTBF.B
- Exchange: OTCPK
- Founded: 1902
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$967.041m
- Shares outstanding: 2.55m
- Website: https://www.watrust.com
Number of Employees
Location
- W.T.B. Financial Corporation
- 717 West Sprague Avenue
- Spokane
- Washington
- 99201
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WTBF.A | OTCPK (Pink Sheets LLC) | Class A Common Stock | US | USD | Sep 1995 | |
| WTBF.B | OTCPK (Pink Sheets LLC) | Yes | Class B Common Stock | US | USD | Jun 1998 |
Biography
W.T.B. Financial Corporation operates as the bank holding company for Washington Trust Bank that provides banking, fiduciary, asset management, mortgage banking, and other financial services to corporate and individual customers in Washington, Idaho, and Oregon. The company accepts checking, savings and money market, health savings, individual retirement, analyzed, and sweep cash accounts, as well as certificates of deposit. It also offers credit and debit cards; home, auto, boat, motorcycle, motor home, home equity, equipment, debt refinancing, term, and agriculture loans; and SBA and commercial real estate financing, as well as revolving, personal, and home equity lines of credit. In addition, the company provides investment services, such as retirement planning, mutual funds, stocks/bonds, life/long-term care insurance, annuities, brokerage, planning, and education funding. Further, it offers wealth management services consisting of investment management, charitable and nonprofit administration, estate settlement, family office services, trust administration, retirement planning, employee benefits administration, and custody services, as well as portfolio management services. Additionally, the company provides digital wallets; remote deposit, merchant, treasury management, private banking, and online and mobile banking services; and documentary and standby letters of credit, documentary collection, foreign exchange products, foreign accounts receivable insurance, and SBA export loan guaranty programs. As of February 26, 2019, it operated 42 branches and offices in Washington, Idaho, and Oregon. W.T.B. Financial Corporation was founded in 1902 and is headquartered in Spokane, Washington.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/25 00:45 |
| End of Day Share Price | 2020/02/24 00:00 |
| Earnings | 2019/12/31 |
| 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.