Harford BankHFBK +1.10%61 Piotroski F-Score is 7 as of Jul. 05, 2026, which is 17% above its 10-year median of 6.00. GuruFocus rates HFBK with a GF Score™ of 61/100 and a GF Value™ of $39.48 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,501 Banks companies, Harford Bank ranks better than 77.88% on this metric.
Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Harford Bank has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Harford Bank's Piotroski F-Score or its related term are showing as below:
HFBK'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 7
During the past 13 years, the highest Piotroski F-Score of Harford Bank was 8. The lowest was 4. And the median was 6.
Harford Bank (OTCPK:HFBK) Piotroski F-Score Explanation
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.
Harford Bank Piotroski F-Score Related Terms
Harford Bank Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Harford Bank'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.
HFBK vs MVLY, CBWA, ASRV: Piotroski F-Score Comparison
For the Banks - Regional subindustry, Harford Bank's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Harford Bank Piotroski F-Score vs Banks Industry
For the Banks industry and Financial Services sector, Harford Bank's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Harford Bank's Piotroski F-Score falls into.
* 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.
Net Income was 1.35 + 1.73 + 2.285 + 1.526 = $6.89 Mil.
Revenue was 6.078 + 6.283 + 6.633 + 6.225 = $25.22 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(678.366 + 700.133 + 711.836 + 713.432 + 720.57) / 5 = $704.8674 Mil. Total Assets at the begining of last year (Mar24) was $678.37 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Total Assets was $720.57 Mil. Total Liabilities was $654.25 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.
Harford Bank's current Net Income (TTM) was 7.35.
==> 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.
Harford Bank's return on assets of this year was 0.01020442. Harford Bank's return on assets of last year was 0.01015823.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Harford Bank's gearing of this year was 0. Harford Bank's gearing of last year was 0.
==> This year is lower or equal to last year. ==> Score 1.
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.
Harford Bank's current ratio of this year was 1.11020166. Harford Bank's current ratio of last year was 1.10136798.
==> 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.
Harford Bank's number of shares in issue this year was 1.525. Harford Bank's number of shares in issue last year was 1.503.
==> 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.
Harford Bank's net margin of this year was 0.26415433. Harford Bank's net margin of last year was 0.27324636.
==> Last year's net margin is higher ==> Score 0.
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
Harford Bank's asset turnover of this year was 0.03863053. Harford Bank's asset turnover of last year was 0.0371761.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Harford Bank has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Harford Bank (HFBK) has a Piotroski F-Score of 7 as of Jul. 05, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Harford Bank and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Harford Bank's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, Harford Bank ranks #332 out of 1501 companies in the Banks industry, placing it in the top 22.1%.
Is Harford Bank's Piotroski F-Score too high?
Harford Bank's current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Banks industry median Piotroski F-Score is 6.00. Harford Bank's value of 7 is 16.7% above this industry median. Based on the distribution chart, Harford Bank ranks #332 out of 1501 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Harford Bank has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harford Bank's Piotroski F-Score compare to MVLY and CBWA?
According to the Banks industry distribution chart, Harford Bank ranks #332 out of 1501 companies for Piotroski F-Score. This places Harford Bank in the top 22% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 6.00. Harford Bank's value of 7 is 16.7% above this benchmark. Historically, Harford Bank's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Harford Bank has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Banks company?
The median Piotroski F-Score among Banks companies is 6.00, based on 1,501 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harford Bank's current Piotroski F-Score of 7 is 16.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Harford Bank and its competitors. For the Banks industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harford Bank's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harford Bank stock overvalued right now?
Based on GuruFocus' analysis, Harford Bank (HFBK) is currently considered Modestly Overvalued. The stock's GF Value™ is $39.48, compared to a current price of $46.00 — trading 16.5% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 16.7% above the Banks industry median of 6.00. Harford Bank's overall GF Score™ is 61/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Harford Bank (HFBK), the current Piotroski F-Score is 7 as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Harford Bank (HFBK) Overvalued in 2026?
Based on GuruFocus' analysis, Harford Bank stock appears to be overvalued.
The current stock price of $46.00 is trading 16.5% above its estimated GF Value™ of $39.48.
GuruFocus considers Harford Bank to be Modestly Overvalued.
Key valuation signals for HFBK:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: $39.48 vs. price of $46.00 (16.5% above fair value)
Industry Position: 16.7% above the Banks median (#332 of 1501)
No single metric tells the full story. See the HFBK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harford Bank provides a full range of banking services to its customers through a network of branches located in Harford and Cecil Counties and the surrounding areas of northeastern Maryland. Its various financial products and service offerings include checking accounts, savings accounts, money market accounts, mobile banking services, a full range of commercial and consumer loans, drive-through banking services, and automated teller machine (ATM) services, among others. The bank conducts commercial banking in its primary service areas, catering to the banking needs of individuals, small to medium-sized businesses, and professionals.
61GF Score
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Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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