Hanover Bancorp, Inc. (HNVR) vs SB Financial Group, Inc. (SBFG)

Hanover Bancorp, Inc. and SB Financial Group, Inc. are both Banks Regional companies. Hanover Bancorp, Inc. and SB Financial Group, Inc. are of similar size ($192.2M and $183.9M). SB Financial Group, Inc. trades at the lower P/E: 11.1× against 20.9×. SB Financial Group, Inc. grew revenue faster over the last twelve months: 8.95% against −4.37%. SB Financial Group, Inc. has the higher net margin (17.7% vs 6.55%) and the higher return on invested capital (26.8% vs 8.61%). Both pay a dividend; SB Financial Group, Inc. yields more (3.25% vs 2.27%). Across the 20 metrics below, SB Financial Group, Inc. leads on 12 and Hanover Bancorp, Inc. on 8.

Valuation

Metric HNVR SBFG Banks Regional median
P/E 20.87 11.14 12.15
P/S 1.36 1.95 2.37
P/B 0.97 1.26 1.21
Price to free cash flow 7.35 8.02 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.60 0.92 2.27
Earnings yield 4.79% 8.98% 8.11%
Free cash flow yield 13.61% 12.47% 8.98%

Profitability

Metric HNVR SBFG Banks Regional median
Gross margin 53.37% 72.07% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 6.55% 17.67% 18.66%
Free cash flow margin 18.47% 24.35% 21.18%
Return on equity 4.72% 11.95% 10.64%
Return on assets 0.40% 1.08% 1.13%
Return on invested capital 8.61% 26.76% 8.33%

Growth

Metric HNVR SBFG Banks Regional median
Revenue growth (TTM) (4.37%) 8.95% 6.61%
EPS growth (last fiscal year) (39.76%) 27.33% —
Revenue growth, 5-year CAGR 28.13% 4.59% 12.30%
Net income growth, 5-year CAGR (7.64%) (1.33%) 9.71%

Health

Metric HNVR SBFG Banks Regional median
Debt to equity 0.17 0.29 0.22
Current ratio 1.03 0.95 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric HNVR SBFG Banks Regional median
Dividend yield 2.27% 3.25% 3.75%
Payout ratio — 0.28 0.27

Size

Metric HNVR SBFG Banks Regional median
Market cap 183.86m 192.15m 921.07m

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