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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | -29.9x - -33.0x | -31.4x |
Selected Fwd P/E Multiple | 9.8x - 10.8x | 10.3x |
Fair Value | $14.52 - $16.04 | $15.28 |
Upside | -30.7% - -23.4% | -27.1% |
Benchmarks | - | Full Ticker |
ACNB Corporation | - | NasdaqCM:ACNB |
National Bank Holdings Corporation | - | NYSE:NBHC |
Hanmi Financial Corporation | - | NasdaqGS:HAFC |
BayCom Corp | - | NasdaqGS:BCML |
Bankwell Financial Group, Inc. | - | NasdaqGM:BWFG |
Bank of Marin Bancorp | - | NasdaqCM:BMRC |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
ACNB | NBHC | HAFC | BCML | BWFG | BMRC | |||
NasdaqCM:ACNB | NYSE:NBHC | NasdaqGS:HAFC | NasdaqGS:BCML | NasdaqGM:BWFG | NasdaqCM:BMRC | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 6.1% | 8.1% | 13.6% | 6.4% | -12.0% | NM- | ||
3Y CAGR | 4.6% | 8.2% | -14.3% | 4.5% | -28.5% | NM- | ||
Latest Twelve Months | -15.7% | -16.3% | -11.7% | -10.2% | -56.9% | -148.3% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 28.8% | 29.5% | 31.3% | 23.8% | 29.5% | 19.7% | ||
Prior Fiscal Year | 29.9% | 34.0% | 31.9% | 26.7% | 36.3% | 18.9% | ||
Latest Fiscal Year | 28.7% | 29.6% | 26.8% | 24.5% | 14.8% | -12.4% | ||
Latest Twelve Months | 21.9% | 28.5% | 27.7% | 24.5% | 18.3% | -9.1% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 4.0x | 3.6x | 3.0x | 3.1x | 3.8x | 4.8x | ||
LTM P/E Ratio | 18.2x | 12.7x | 10.9x | 12.5x | 20.8x | -52.1x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 10.9x | 12.7x | 20.8x | |||||
Historical LTM P/E Ratio | -27.5x | 12.1x | 18.8x | |||||
Selected P/E Multiple | -29.9x | -31.4x | -33.0x | |||||
(x) LTM Net Income | (6) | (6) | (6) | |||||
(=) Equity Value | 193 | 203 | 213 | |||||
(/) Shares Outstanding | 16.1 | 16.1 | 16.1 | |||||
Implied Value Range | 12.01 | 12.65 | 13.28 | |||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 12.01 | 12.65 | 13.28 | 20.95 | ||||
Upside / (Downside) | -42.7% | -39.6% | -36.6% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | ACNB | NBHC | HAFC | BCML | BWFG | BMRC | |
Value of Common Equity | 452 | 1,409 | 699 | 294 | 263 | 336 | |
(/) Shares Outstanding | 10.5 | 38.1 | 30.0 | 11.0 | 7.7 | 16.1 | |
Implied Stock Price | 42.84 | 37.00 | 23.35 | 26.83 | 34.17 | 20.95 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 42.84 | 37.00 | 23.35 | 26.83 | 34.17 | 20.95 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |