Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Sep. 2015, State Investors Bancorp has a Sloan Ratio of -9.01%, indicating the company is in the safe zone and there is no funny business with accruals.
State Investors Bancorp Sloan Ratio % Historical Data
* 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.
Competitive Comparison of State Investors Bancorp's Sloan Ratio %
For the Banks - Regional subindustry, State Investors Bancorp's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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.
State Investors Bancorp's Sloan Ratio % Distribution in the Banks Industry
For the Banks industry and Financial Services sector, State Investors Bancorp's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where State Investors Bancorp's Sloan Ratio % falls into.
State Investors Bancorp Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
State Investors Bancorp's Sloan Ratio for the fiscal year that ended in Dec. 2014 is calculated as
State Investors Bancorp's Net Income for the trailing twelve months (TTM) ended in Sep. 2015 was 0.431 (Dec. 2014 ) + 0.042 (Mar. 2015 ) + 0.165 (Jun. 2015 ) + 0.305 (Sep. 2015 ) = $0.94 Mil.
State Investors Bancorp's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2015 was 0.541 (Dec. 2014 ) + -0.324 (Mar. 2015 ) + 0.735 (Jun. 2015 ) + 0.721 (Sep. 2015 ) = $1.67 Mil.
State Investors Bancorp's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2015 was -3.2 (Dec. 2014 ) + 4.573 (Mar. 2015 ) + 10.954 (Jun. 2015 ) + 9.378 (Sep. 2015 ) = $21.71 Mil.
* 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.
State Investors Bancorp (NAS:SIBC) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Sep. 2015, State Investors Bancorp has a Sloan Ratio of -9.01%, indicating the company is in the safe zone and there is no funny business with accruals.
State Investors Bancorp Sloan Ratio % Related Terms
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State Investors Bancorp (State Investors Bancorp) Business Description
State Investors Bancorp Inc was organized by State-Investors Bank in February 2011. The Company is a savings and loan holding company regulated by the Board of Governors of the Federal Reserve System. State-Investors Bank is a federally chartered savings bank located in Metairie, Louisiana, which is in Jefferson Parish. State-Investors Bank's business consists of attracting deposits from the general public and using those funds to originate residential and commercial loans in Jefferson, Orleans and St. Tammany Parishes within the seven parish New Orleans-Metairie-Kenner Metropolitan Statistical Area. It lending activities are; loan portfolio composition, origination and purchase of loans, loan originations, contractual terms to final maturities, one- to four-family residential real estate loans, commercial real estate loans, land loans, multi-family residential loans, residential construction loans, home equity loans and lines of credit, consumer non-real estate loans, commercial business loans, loan origination and other fees. The Company competes with commercial banks, other savings banks and savings associations, mortgage-banking companies, short-term money market funds and other corporate and government securities funds, mutual funds and from other non-depository financial institutions such as brokerage firms and insurance companies. The types of loans that State Investors Bancorp may originate or purchase are subject to federal and state laws and regulations.
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