Yamagata Bank, Ltd. (8344) AI Stock Analysis

• Market Cap: ¥67.89B
• Dividend Yield: 2.89%
• Average Volume (3M): 70.19K
• Price to Earnings (P/E): 13.9
• Beta (1Y): 0.83
• Revenue Growth: -0.24%
• EPS Growth: 95.49%
• Country: JP
• Employees: 1,175
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 35.25
• Shares Outstanding: 32,216,114
• 10 Day Avg. Volume: 71,230
• 30 Day Avg. Volume: 70,193
• PEG Ratio: 0.09
• Price to Book (P/B): 0.33
• Price to Sales (P/S): 0.89
• P/FCF Ratio: 6.09
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 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: ¥2,473.00 ▲(20.05% Upside)

Yamagata Bank's stock is rated positively due to strong technical momentum and reasonable valuation. Financial performance is solid, with notable revenue and profit growth, but operational efficiency and cash flow management need improvement. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Revenue and profitability improvement

Sustained revenue growth and a higher net profit margin indicate the bank is expanding interest and fee income while converting it into earnings. For a regional lender, this supports durable internal capital generation, funding lending and customer programs over the medium term.

Improving leverage management

A lower debt-to-equity ratio reflects tighter leverage control and reduced balance sheet risk. Improved capitalization enhances resilience to credit shocks, preserves regulatory headroom and gives management more flexibility to support loans or absorb losses without immediate capital raises.

Strong free cash flow generation

Robust free cash flow relative to profits signals the bank can finance dividends, reinvest in operations, and support loan growth without heavy external funding. Over months this underpins financial stability and strategic optionality for regional expansion or capital returns.

Negative Factors

Declining operating margins

Falling EBIT/EBITDA margins point to weakening operational efficiency or rising non‑interest costs. Persisting margin pressure can erode core earnings power, constrain reinvestment, and make profitability more sensitive to lending spreads or credit costs over the medium term.

Weak operating cash conversion

Low conversion of accounting profits into operating cash suggests cash collection or timing issues and reduces liquidity flexibility. This can force heavier reliance on securities sales or short-term funding, limiting sustainable loan growth and increasing funding risk over months.

Low equity ratio / reliance on debt

A relatively low equity ratio increases financial leverage and sensitivity to credit or market shocks. Over the medium term this can constrain strategic initiatives, heighten regulatory capital vulnerability, and amplify losses during downturns, limiting long-term stability.

Yamagata Bank, Ltd. Business Overview & Revenue Model

Company Description

The Yamagata Bank, Ltd. provides various banking products and services in Japan. The company operates through Banking, Leasing, and Credit Guarantee Business segments. It is involved in deposit-taking and lending activities; and investment in securities. The company also offers exchange and leasing services. As of March 31, 2021, it operated 81 branches; and 299 ATMs. The Yamagata Bank, Ltd. was founded in 1896 and is headquartered in Yamagata, Japan.

How the Company Makes Money

Yamagata Bank generates revenue primarily through interest income from loans and advances made to customers, which constitutes a significant portion of its earnings. The bank offers various loan products, including personal loans, housing loans, and business loans, charging interest over the duration of these loans. Additionally, the bank earns fees and commissions from services such as account maintenance, fund transfers, and investment services. Other revenue streams include income from investment securities and treasury operations. The bank may also engage in partnerships with local businesses and government entities to enhance its service offerings and expand its customer base, contributing further to its financial performance.

Yamagata Bank, Ltd. Financial Statement Overview

Summary

Yamagata Bank shows strong revenue growth and improved net profit margins, indicating a positive financial trajectory. However, challenges in operational efficiency and cash flow management are noted, with declining EBIT and EBITDA margins and a low operating cash flow to net income ratio.

Income Statement

Yamagata Bank has demonstrated strong revenue growth with a 12.26% increase in the latest year, indicating a positive trajectory. The net profit margin improved significantly to 9.59%, showcasing enhanced profitability. However, the EBIT and EBITDA margins have declined, suggesting potential challenges in operational efficiency.

Balance Sheet

The bank's debt-to-equity ratio has improved to 0.88, reflecting better leverage management compared to previous years. Return on equity has also increased to 3.25%, indicating improved shareholder returns. However, the equity ratio remains relatively low, suggesting a higher reliance on debt financing.

Cash Flow

Yamagata Bank's free cash flow has shown significant growth, but the operating cash flow to net income ratio is low, indicating potential cash flow management issues. The free cash flow to net income ratio is healthy at 0.72, suggesting good cash generation relative to profits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	47.83B	50.44B	52.60B	48.60B	41.55B	38.64B
Gross Profit	47.83B	45.31B	47.20B	44.88B	40.35B	37.29B
EBITDA	1.29B	8.38B	5.35B	6.88B	7.23B	5.95B
Net Income	4.43B	4.41B	2.08B	3.44B	3.40B	2.85B
Balance Sheet
Total Assets	3.23T	3.16T	3.15T	3.14T	3.54T	3.13T
Cash, Cash Equivalents and Short-Term Investments	0.00	206.59B	197.12B	249.80B	646.47B	394.59B
Total Debt	117.20B	119.01B	134.47B	133.21B	505.94B	260.06B
Total Liabilities	3.08T	3.03T	3.00T	3.01T	3.38T	2.97T
Stockholders Equity	143.60B	135.82B	143.63B	133.55B	155.46B	161.65B
Cash Flow
Free Cash Flow	0.00	7.40B	-147.49B	-471.44B	445.89B	438.09B
Operating Cash Flow	0.00	10.25B	-145.35B	-469.31B	450.23B	440.20B
Investing Cash Flow	0.00	56.97B	94.19B	75.43B	-194.68B	-132.94B
Financing Cash Flow	0.00	40.08B	12.22B	-1.21B	-1.54B	-981.00M

Yamagata Bank, Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2060.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8344, the sentiment is Positive. The current price of 2060 is below the 20-day moving average (MA) of 2114.15, above the 50-day MA of 1956.62, and above the 200-day MA of 1622.09, indicating a bullish trend. The MACD of 69.21 indicates Positive momentum. The RSI at 71.35 is Negative, neither overbought nor oversold. The STOCH value of 76.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8344.

Yamagata Bank, Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8387	78 Outperform	¥83.65B	12.95	―	3.05%	8.75%	-12.68%
8344	74 Outperform	¥67.89B	13.89	―	2.89%	-0.24%	95.49%
8362	73 Outperform	¥68.24B	16.91	―	2.49%	7.08%	-46.44%
8541	72 Outperform	¥66.34B	10.76	―	2.34%	-0.97%	27.62%
8399	69 Neutral	¥93.32B	12.02	―	2.46%	9.12%	43.43%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
8550	52 Neutral	¥87.33B	-4.54	―	2.12%	10.91%	-1225.48%

Yamagata Bank, Ltd. Corporate Events

Yamagata Bank Reports Robust Financial Growth for H1 2025

Yamagata Bank, Ltd. reported significant financial growth for the six months ending September 30, 2025, with a 19.5% increase in ordinary income and a 36.1% rise in ordinary profit compared to the previous year. The bank’s improved financial performance highlights its strong market positioning and potential positive implications for stakeholders, as evidenced by increased dividends and a stable equity-to-asset ratio.

The most recent analyst rating on (JP:8344) stock is a Buy with a Yen1938.00 price target. To see the full list of analyst forecasts on Yamagata Bank, Ltd. stock, see the JP:8344 Stock Forecast page.