AMEX:VMM

Stock Analysis Report

Delaware Investments Minnesota Municipal Income Fund II

Executive Summary

Delaware Investments Minnesota Municipal Income Fund II, Inc.

Rewards


Snowflake Analysis

Share Price & News

How has Delaware Investments Minnesota Municipal Income Fund II's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VMM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-6.4%

VMM

-1.2%

US Capital Markets

-2.0%

US Market


1 Year Return

-6.3%

VMM

-14.1%

US Capital Markets

-15.1%

US Market

Return vs Industry: VMM exceeded the US Capital Markets industry which returned -15.6% over the past year.

Return vs Market: VMM exceeded the US Market which returned -14.9% over the past year.


Shareholder returns

VMMIndustryMarket
7 Day-6.4%-1.2%-2.0%
30 Day-15.2%-19.8%-19.7%
90 Day-11.4%-24.6%-23.2%
1 Year-2.8%-6.3%-12.4%-14.1%-13.4%-15.1%
3 Year-10.0%-19.5%7.2%1.0%10.9%3.7%
5 Year3.4%-15.0%31.1%18.8%28.4%14.4%

Price Volatility Vs. Market

How volatile is Delaware Investments Minnesota Municipal Income Fund II's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Delaware Investments Minnesota Municipal Income Fund II undervalued compared to its fair value and its price relative to the market?

8.91x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: VMM ($11.85) is trading above our estimate of fair value ($0.42)

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


Price To Earnings Ratio

PE vs Industry: VMM is good value based on its PE Ratio (9x) compared to the Capital Markets industry average (33x).

PE vs Market: VMM is good value based on its PE Ratio (9x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VMM is good value based on its PB Ratio (0.8x) compared to the US Capital Markets industry average (7.7x).

Future Growth

How is Delaware Investments Minnesota Municipal Income Fund II forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

5.3%

Forecasted Diversified Financials 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 Delaware Investments Minnesota Municipal Income Fund II 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.

Past Performance

How has Delaware Investments Minnesota Municipal Income Fund II performed over the past 5 years?

-23.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VMM has a large one-off gain of $9.8M impacting its September 30 2019 financial results.

Growing Profit Margin: VMM became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: VMM's earnings have declined by -23.5% per year over the past 5 years.

Accelerating Growth: VMM has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: VMM has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (9.7%).


Return on Equity

High ROE: VMM's Return on Equity (8.8%) is considered low.

Financial Health

How is Delaware Investments Minnesota Municipal Income Fund II'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: VMM has a low level of unsold assets or inventory.

Debt Coverage by Assets: VMM's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

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

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

Low Risk Liabilities: VMM reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if VMM has an acceptable proportion of non-loan assets held.

Low Risk Deposits: VMM has advanced significantly more loans than the customer deposits it holds.

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

Dividend

What is Delaware Investments Minnesota Municipal Income Fund II's current dividend yield, its reliability and sustainability?

3.83%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VMM's dividend (3.8%) is higher than the bottom 25% of dividend payers in the US market (2.04%).

High Dividend: VMM's dividend (3.8%) is low compared to the top 25% of dividend payers in the US market (5.7%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34.1%), VMM'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.

Management

How experienced are the management team and are they aligned to shareholders interests?

15.1yrs

Average board tenure


CEO

Delaware Investments Minnesota Municipal Income Fund II has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Joseph Chow
Independent Director7.25yrsUS$3.12kno data
Thomas Whitford
Independent Director7.25yrsUS$3.07kno data
John Fry
Independent Director19.25yrsUS$3.09kno data
Janet Yeomans
Independent Director21yrsUS$3.55kno data
Patrick Coyne
Chairman13.67yrsno datano data
Joseph Zecher
Independent Director15.08yrsUS$3.10kno data
Lucinda Landreth
Independent Director15.08yrsUS$3.12kno data
Thomas Bennett
Independent Director15.08yrsUS$3.64kno data
Frances Sevilla-Sacasa
Independent Director8.58yrsUS$3.12kno data

15.1yrs

Average Tenure

66yo

Average Age

Experienced Board: VMM's board of directors are seasoned and experienced ( 15.1 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

Delaware Investments Minnesota Municipal Income Fund II, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information


Location

  • Delaware Investments Minnesota Municipal Income Fund II, Inc.
  • 2005 Market Street
  • One Commerce Square
  • Philadelphia
  • Pennsylvania
  • 19103-7094
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VMMAMEX (NYSE MKT LLC)YesCommon SharesUSUSDFeb 1993

Biography

Delaware Investments Minnesota Municipal Income Fund II, Inc. is a closed ended fixed income mutual fund launched by Delaware Management Holdings, Inc. The fund is managed by Delaware Management Business Trust. It invests in fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds, which include airport revenue bonds, city general obligation bonds, continuing care and retirement revenue bonds, corporate backed revenue bonds, escrowed to maturity bonds, higher education revenue bonds, hospital revenue bonds, multifamily housing revenue bonds, municipal lease revenue bonds, parking revenue bonds, political subdivision general obligation bonds, pre-refunded bonds, public power revenue bonds, school district general obligation bonds, single family housing revenue bonds, state general obligation bonds, tax increment and special assessment bonds, territorial general obligation bonds, and territorial revenue bonds. It benchmarks the performance of its portfolio against the Barclays Municipal Bond Index. The fund was previously known as Voyageur Minnesota Municipal Income Fund II, Inc. Delaware Investments Minnesota Municipal Income Fund II, Inc. was formed in 1992 and is domiciled in the United States. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 00:41
End of Day Share Price2020/04/03 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.