CSB Bancorp (CSBB) AI Stock Analysis

• Market Cap: $157.62M
• Dividend Yield: 3%
• Average Volume (3M): 576.00
• Price to Earnings (P/E): 19.1
• Beta (1Y): 0.13
• 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: 2,627,015
• 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: 1.06
• Enterprise Value/Revenue: 2.62
• Enterprise Value/Gross Profit: 3.83
• Enterprise Value/Ebitda: 10.10
• 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

Consistent revenue growth

Sustained top-line growth into 2025 (≈11% y/y) indicates repeatable demand for lending and deposit services in its community markets. Durable revenue expansion supports loan growth capacity, underwriting investment, and incremental fee income over the next several quarters.

Improving margins

Margin improvement in 2025 reflects better operating leverage or mix, boosting earnings resilience. If sustained, higher margins increase internal cash generation and provide buffer against credit cycles, supporting investments, dividends, and capital retention over the medium term.

Healthier leverage and growing equity

A lower leverage profile and rising equity strengthen the balance sheet and regulatory posture. Improved capital buffers increase resilience to loan losses and support measured balance-sheet expansion or steady dividends without jeopardizing liquidity or compliance over coming quarters.

Negative Factors

Volatile free cash flow

Despite positive operating cash flow in 2025, the steep decline in free cash flow growth signals uneven cash conversion. Persistent FCF volatility constrains capacity for sustained capital deployment, increases reliance on caution in dividend or growth decisions, and raises forecast uncertainty.

Cooling return on equity

A material decline in ROE versus recent peaks indicates reduced capital efficiency. If ROE normalizes at lower levels, shareholder return expectations may be tempered and management will face pressure to drive higher loan yields, fee income, or cost reductions to restore past profitability.

Interest-rate sensitivity of business model

As a community bank reliant on net interest income, earnings remain structurally exposed to rate shifts and deposit-cost pressure. If deposit costs rise faster than loan or security yields, net interest margin can compress, producing sustained 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	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	64.32M	57.95M	52.08M	40.80M	36.14M
Gross Profit	44.30M	36.17M	41.76M	39.20M	34.79M
EBITDA	16.56M	13.28M	19.30M	17.50M	14.29M
Net Income	13.36M	10.01M	14.76M	13.31M	10.84M
Balance Sheet
Total Assets	1.29B	1.19B	1.18B	1.16B	1.14B
Cash, Cash Equivalents and Short-Term Investments	17.73M	105.88M	204.16M	236.49M	375.37M
Total Debt	32.43M	26.95M	37.60M	35.01M	39.94M
Total Liabilities	1.17B	1.08B	1.07B	1.06B	1.05B
Stockholders Equity	126.28M	114.83M	107.94M	95.92M	97.31M
Cash Flow
Free Cash Flow	18.82M	13.56M	15.20M	14.01M	12.92M
Operating Cash Flow	19.23M	15.66M	15.63M	14.39M	15.02M
Investing Cash Flow	-76.89M	-8.08M	-39.13M	-183.46M	-57.98M
Financing Cash Flow	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: Negative
• 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 57.91, below the 50-day MA of 56.63, and above the 200-day MA of 49.24, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 66.64 is Neutral, neither overbought nor oversold. The STOCH value of 77.50 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	$157.62M	19.06	10.88%	3.00%	8.07%	22.37%
FNWD	73 Outperform	$166.16M	18.59	5.01%	0.97%	-7.20%	-29.17%
EBMT	70 Outperform	$162.02M	10.47	7.43%	2.93%	6.10%	59.32%
RBKB	68 Neutral	$172.56M	13.95	7.66%	―	22.30%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FGBI	61 Neutral	$124.51M	-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.