Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
NewBridge Bancorp has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for NewBridge Bancorp's Piotroski F-Score or its related term are showing as below:
NewBridge Bancorp Piotroski F-Score Historical Data
The historical data trend for NewBridge Bancorp's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Sep15) TTM:
Last Year (Sep14) TTM:
Net Income was 4.265 + 3.77 + 6.001 + 5.572 = $19.6 Mil. Cash Flow from Operations was 4.204 + 1.031 + 4.715 + 11.451 = $21.4 Mil. Revenue was 25.381 + 26.072 + 27.667 + 27.222 = $106.3 Mil.
Average Total Assets from the begining of this year (Sep14)
to the end of this year (Sep15) was
(2442.75 + 2520.232 + 2735.036 + 2778.685 + 2772.444) / 5 = $2649.8294 Mil. Total Assets at the begining of this year (Sep14) was $2,442.8 Mil. Long-Term Debt & Capital Lease Obligation was $491.3 Mil. Total Assets was $2,772.4 Mil. Total Liabilities was $2,511.0 Mil.
Net Income was 1.426 + 3.451 + 1.161 + 5.099 = $11.1 Mil.
Revenue was 20.982 + 20.962 + 24.461 + 24.58 = $91.0 Mil.
Average Total Assets from the begining of last year (Sep13)
to the end of last year (Sep14) was
(1802.342 + 1965.232 + 2038.269 + 2429.093 + 2442.75) / 5 = $2135.5372 Mil. Total Assets at the begining of last year (Sep13) was $1,802.3 Mil. Long-Term Debt & Capital Lease Obligation was $374.0 Mil. Total Assets was $2,442.8 Mil. Total Liabilities was $2,214.3 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
NewBridge Bancorp's current Net Income (TTM) was 19.6.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
NewBridge Bancorp's return on assets of this year was 0.00802702. NewBridge Bancorp's return on assets of last year was 0.00617918.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
NewBridge Bancorp's gearing of this year was 0.18539835. NewBridge Bancorp's gearing of last year was 0.1751194.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.
NewBridge Bancorp's current ratio of this year was 1.10410277. NewBridge Bancorp's current ratio of last year was 1.10316084.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
NewBridge Bancorp's number of shares in issue this year was 39.537. NewBridge Bancorp's number of shares in issue last year was 37.577.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.
NewBridge Bancorp's net margin of this year was 0.18438623. NewBridge Bancorp's net margin of last year was 0.12240479.
==> This year's net margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
NewBridge Bancorp's asset turnover of this year was 0.04353372. NewBridge Bancorp's asset turnover of last year was 0.05048154.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
NewBridge Bancorp has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
NewBridge Bancorp Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of NewBridge Bancorp's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
NewBridge Bancorp (NewBridge Bancorp) Business Description
NewBridge Bancorp was incorporated in the State of North Carolina on December 6, 1982. The Company is a bank holding company. The Company through its banking subsidiary provides banking products to small to medium-sized businesses and retail clients in its market areas, including interest-bearing and noninterest-bearing demand deposit accounts, certificates of deposits, individual retirement accounts, overdraft protection, personal and corporate trust services, safe deposit boxes, online banking, corporate cash management, brokerage, financial planning and asset management, and secured and unsecured loans. The Company also offers lending services, including construction, real estate, and commercial and consumer loans, to small to medium-sized businesses, middle market businesses, real estate developers and retail clients that are located in or conduct a substantial portion of their business in the market areas. It maintains operations facilities in Lexington and Reidsville, NC. It operated approximately 40 branch offices in its four markets including Charlotte, Raleigh, the Cape Fear Region and the Piedmont Triad Region and eight loan production offices. The Bank focuses its marketing efforts on small to medium-sized businesses, professionals and retail clients, and on achieving certain strategic objectives, including increasing noninterest income and growing core deposits and loans. The Bank promotes its brand through its association with the Greensboro minor league baseball team and ballpark (NewBridge Bank Park), traditional advertising and promotions, sponsorship of local events and other community-focused campaigns. The Bank also invests in bank-hosted events and client hospitality opportunities that foster relationship building and business development. The Company's clients are located in Brunswick, Davidson, Forsyth, Guilford, Mecklenburg, New Hanover, Pender, Rockingham, Sampson, Stokes and Wake Counties. It faces competition from a number of sources, including commercial banks, thrift institutions, credit unions and other financial institutions and financial intermediaries. The Company is subject to examination by the FDIC and the Commissioner. In addition, it is subject to various other state and federal laws and regulations, including state usury laws, laws relating to fiduciaries, consumer credit, equal credit and fair credit reporting laws and laws relating to branch banking.
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