CSB Bancorp (CSBB) AI Stock Analysis

• Market Cap: $152.44M
• Dividend Yield: 3%
• Average Volume (3M): 576.00
• Price to Earnings (P/E): 10.7
• Beta (1Y): 0.15
• Revenue Growth: 8.07%
• EPS Growth: 22.37%
• Country: US
• Employees: 173
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.71
• Shares Outstanding: 2,629,226
• 10 Day Avg. Volume: 283
• 30 Day Avg. Volume: 576
• PEG Ratio: 0.31
• Price to Book (P/B): 1.13
• Price to Sales (P/S): 2.22
• P/FCF Ratio: 7.31
• Enterprise Value/Market Cap: 1.10
• Enterprise Value/Revenue: 2.71
• Enterprise Value/Gross Profit: 3.88
• Enterprise Value/Ebitda: 9.75
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: $65.00 ▲(20.10% Upside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is driven primarily by solid financial performance (revenue growth, improved 2025 margins, and a healthier leverage profile), supported by a favorable technical backdrop (price above key moving averages and positive MACD). Valuation further strengthens the outlook with a low P/E and ~2.88% dividend yield, while cash flow volatility and cooled ROE versus 2022–2023 cap the upside.

Positive Factors

High Net Profit Margin

A 27.1% TTM net margin indicates durable earnings power for a regional bank, supporting internal capital formation, dividend maintenance, and loss absorption. Sustained high margins improve resilience across credit cycles and enable reinvestment in core banking capabilities over months to years.

Prudent Leverage

A 0.16 debt/equity ratio reflects conservative leverage, providing balance sheet flexibility. This structural strength reduces refinancing and interest-rate risks, allowing the bank to expand lending selectively and withstand localized economic stress without compromising capital or liquidity over the medium term.

Strong Cash Generation

Robust FCF growth and conversion (FCF>net income) indicate efficient translation of earnings into usable cash. This underpins sustained dividend policy, funds organic growth and loan originations, and lowers reliance on external funding—structural advantages for multi-quarter capital allocation and stability.

Negative Factors

Low Gross Profit Margin

A 17.8% gross margin signals limited pricing or cost flexibility versus peers. Over time this narrows the buffer against interest-margin compression or rising funding costs, constraining capacity to invest in technology or branch expansion and pressuring long-term profitability sustainability.

Modest Revenue Growth

Revenue rising only modestly (2.2% TTM) suggests limited top-line momentum. For a regional bank, slow revenue expansion can impede scale economies, restrict fee diversification, and make earnings more dependent on margin management rather than growth, limiting durable improvement in returns.

Local Market Concentration

A community-focused model concentrates credit and deposit exposure geographically and by client type. While strengthening customer relationships, this structural concentration raises sensitivity to local economic downturns and limits diversification, which can amplify earnings volatility over multiple quarters.

CSB Bancorp Business Overview & Revenue Model

Company Description

CSB Bancorp, Inc. operates as the bank holding company for The Commercial and Savings Bank of Millersburg that provides a various banking, trust, financial, and brokerage services to corporate, institutional, and individual customers in Northeast Ohio. Its deposit products include checking and savings accounts, time deposits, and IRAs; and loan portfolio comprises personal, commercial, real estate mortgage, installment, consumer, and residential and commercial real estate loans. The company also provides safe deposit and night depository facilities. As of January 26, 2022, it had sixteen banking centers located in Holmes, Wayne, Tuscarawas, and Stark counties; and Trust offices located in Millersburg, North Canton, and Wooster, Ohio. The company was founded in 1879 and is based in Millersburg, Ohio.

How the Company Makes Money

CSB Bancorp primarily makes money through its banking subsidiary by earning interest and fees. The largest driver is net interest income: the bank collects interest on loans (such as residential mortgages, commercial real estate loans, commercial/industrial loans, and consumer loans) and on its investment securities portfolio, and it pays interest to customers on deposits (savings, money market, and time deposits) and to other funding sources; the spread between interest earned and interest paid (net interest margin) is a core earnings engine. The company also earns noninterest income from customer and account-related fees and service charges (for example, deposit account service charges and other banking fees), and may generate additional income from activities such as wealth/retirement services, debit/ATM-related fees, and other banking-related charges; if specific lines are not disclosed, they are reflected in aggregate noninterest income. Profitability is influenced by loan growth and mix, credit quality (provision for credit losses and charge-offs), the level and cost of deposits and other funding, and interest-rate movements that affect yields on loans/securities relative to deposit costs. Significant partnerships or material non-banking revenue arrangements are null.

CSB Bancorp Financial Statement Overview

Summary

Solid overall fundamentals supported by steady revenue growth into 2025 and improved 2025 margins versus 2024. The balance sheet shows improving leverage and growing equity, but ROE has cooled versus 2022–2023 and cash flow trends are volatile (notably sharp negative free cash flow growth), tempering the score.

Income Statement

Revenue has grown steadily from 2021–2025 (ending 2025 up ~11% vs. 2024), showing improving top-line momentum. Profitability remains solid for the period, with net profit margin rising to ~20.8% in 2025 from ~17.3% in 2024, and operating margin also improving year over year. The main weakness is that margins and earnings were stronger in 2022–2023 than in 2024–2025, suggesting some normalization or pressure compared with prior peak levels.

Balance Sheet

Leverage looks moderate and improving: debt-to-equity is ~0.26 in 2025, down from ~0.35–0.45 in 2020–2023, alongside growing equity (about $126.3M in 2025 vs. $93.9M in 2020). Returns on equity are acceptable for a regional bank (about 10.6% in 2025), though below the stronger 2022–2023 levels (~13.7%–13.9%). Overall, the balance sheet appears sound with a healthier leverage profile, but profitability on equity has cooled from earlier highs.

Cash Flow

Operating cash flow was positive and increased to about $19.5M in 2025 (from ~$15.7M in 2024), and free cash flow in 2025 equals operating cash flow and matches net income (free cash flow to net income of 1.0), which is a constructive signal. However, free cash flow growth is sharply negative in 2025 (about -81%), indicating volatility, and cash generation relative to revenue is not consistently strong across the period (coverage readings vary widely), which increases uncertainty around cash flow durability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	61.59M	64.32M	57.95M	52.08M	40.80M	36.14M
Gross Profit	43.04M	44.30M	36.17M	41.76M	39.20M	34.79M
EBITDA	17.14M	16.56M	13.28M	19.30M	17.50M	14.29M
Net Income	13.81M	13.36M	10.01M	14.76M	13.31M	10.84M
Balance Sheet
Total Assets	1.25B	1.29B	1.19B	1.18B	1.16B	1.14B
Cash, Cash Equivalents and Short-Term Investments	20.07M	17.73M	105.88M	204.16M	236.49M	375.37M
Total Debt	21.25M	32.43M	26.95M	37.60M	35.01M	39.94M
Total Liabilities	1.12B	1.17B	1.08B	1.07B	1.06B	1.05B
Stockholders Equity	125.19M	126.28M	114.83M	107.94M	95.92M	97.31M
Cash Flow
Free Cash Flow	19.66M	19.50M	13.56M	15.20M	14.01M	12.92M
Operating Cash Flow	20.03M	19.50M	15.66M	15.63M	14.39M	15.02M
Investing Cash Flow	-56.29M	-76.89M	-8.08M	-39.13M	-183.46M	-57.98M
Financing Cash Flow	21.42M	0.00	1.85M	1.16M	11.83M	104.97M

CSB Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 54.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CSBB, the sentiment is Positive. The current price of 54.12 is below the 20-day moving average (MA) of 57.35, below the 50-day MA of 56.07, and above the 200-day MA of 48.80, indicating a bullish trend. The MACD of 0.46 indicates Positive momentum. The RSI at 56.61 is Neutral, neither overbought nor oversold. The STOCH value of 38.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CSBB.

CSB Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CSBB	74 Outperform	$152.44M	10.67	10.88%	3.00%	8.07%	22.37%
FNWD	73 Outperform	$164.17M	18.95	5.01%	0.97%	-7.20%	-29.17%
EBMT	70 Outperform	$167.04M	10.47	7.43%	2.93%	6.10%	59.32%
RBKB	68 Neutral	$170.56M	12.98	7.66%	―	22.30%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FGBI	61 Neutral	$129.43M	-1.34	-23.30%	0.84%	1.33%	-593.24%

CSB Bancorp Corporate Events

CSB Bancorp Raises Quarterly Dividend, Signaling Ongoing Confidence

On February 25, 2026, CSB Bancorp, Inc. announced that its Board of Directors declared a first-quarter cash dividend of $0.43 per share on its common stock, payable on March 24, 2026, to shareholders of record as of March 10, 2026. The payout represents a $0.01 increase from the prior quarterly dividend, signaling the company’s willingness to return slightly more capital to shareholders.

The higher dividend underscores management’s confidence in CSB Bancorp’s financial position and earnings capacity, following reported assets of roughly $1.3 billion at year-end 2025. For investors in this regional banking group, the incremental raise may be seen as a modest but positive indicator of stability and ongoing profitability in its community-focused markets.

The most recent analyst rating on (CSBB) stock is a Hold with a $62.00 price target. To see the full list of analyst forecasts on CSB Bancorp stock, see the CSBB Stock Forecast page.