EN DE
Watch Exchange Bank for free: we tell you when fair value or trend changes.
Data-driven stock valuation

Exchange Bank (EXSR) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Exchange Bank stock $171, price $150, upside +14.0%, quality 54 out of 100. Rating: undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Financial Services US

EB Exchange Bank logo Broad data Nov 8, 2026

Exchange Bank

EXSR · US
Undervalued, in an uptrend

The stock costs 12% less than our calculation considers fair.

Fair value $171.03 · Undervalued
Highly profitable · 26.5% net margin (TTM)
3.5% dividend yield · Low payout
Broad data
Costs just 8 times its yearly profit.
Quality 54/100
Mixed Growth (revenue 5y +5.1 %/yr in USD)
Mixed vs. peers (7/14)
Wide moat 65/100 · thin data
Watch Exchange Bank for free: we tell you when fair value or trend changes. Watch for free

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$168.55 $72.43 Fair Value $171.03 Mar 2020 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range $72.43 – $168.55 · fair‑value band $153.25 – $202.25 · the $150.00 price screens below the $171.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.

Follow Exchange Bank in your weekly email

Every Wednesday you see whether Exchange Bank is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Exchange Bank, a community bank, provides a range of personal, commercial, and trust and investment management services in California.

Show moreShow less

The company offers personal banking products and services, including checking and savings accounts; home loans, personal lines of credit, unsecured personal loans, and auto loans; overdraft line of credit accounts; and credit cards.

It also provides business banking products and services, such as business checking and savings accounts; merchant services, including Clover point-of-sale (POS) systems; and business term loans, business line of credit, construction and commercial real estate, and small business administration (SBA) loans, as well as vineyard, winery, and agricultural loans.

In addition, it offers online and mobile banking services; and trust administration, investment management, and estate settlement services, as well as retirement accounts and plans. The company was incorporated in 1890 and is headquartered in Santa Rosa, California.

Exchange Bank operates as a subsidiary of Frank P. Doyle Trust.

Stock analysis

Exchange Bank (EXSR) currently trades at $150.00, while our model-based Fair Value estimate is $171.03, implying the stock looks roughly 12% undervalued today.

Show more

Valuation

Bull case: the Multiples group reads highest at a median of $204.34 per share, and 3 of the 6 models we run sit above the $150.00 price.

Bear case: the Dividend Discount group reads lowest at $60.14, and 3 of the 6 models stay below the price. Data coverage for this calculation is high.

Scenario range: $153.25 (bear) to $202.25 (bull), the price of $150.00 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 54/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Exchange Bank reported revenue of $156M in FY2025 versus $119M in FY2021, a compound +6.9%/yr. Reported net income was $30.0M in FY2025, compounding −4.8%/yr from FY2021.

Key figures

Market cap $257M Micro · P/E ratio 8.0 · P/S ratio 2.10 · EPS (TTM) $18.73 · Dividend yield 3.5% · Net margin 26.5% · Return on equity 9.6% · Return on assets (EBIT) 1.4% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at 14%, EXSR screens cheaper than that median.

Fair Value models

Bear $153.25 Fair Value $171.03 Bull $202.25
Price $150.00 · Upside +14.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($11.52 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income $161.96 $171.03 $189.06 76
Gordon GGM $39.70 $64.25 $89.22 68
DDM Multi-Stage $39.70 $56.02 $71.27 67
All 6 models by family
Dividend Discount
Gordon GGM $39.70 $64.25 $89.22 68
DDM Multi-Stage $39.70 $56.02 $71.27 67
Multiples
P/E Multiple $170.44 $227.25 $284.06 63
P/B Multiple $136.06 $181.42 $226.77 55
Asset-Based
NCAV (Graham) $101.13 $135.51 $202.25 54
Economic Profit
Residual Income $161.96 $171.03 $189.06 76

Open the full fair value analysis →

Quality Score breakdown

Overall quality 54/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 30
How much profit the company makes from its sales and capital
Quality Growth 54
Are margins and returns getting better?
Cashflow 59
Do the profits arrive as real cash?
Financial strength 19
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 81
How calm the share price moves, does not count
Price momentum 55
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 74
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.1%
Start year 2020 (pandemic). Over 10 years: +5.7% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−0.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.8%
Dividend (yield on the price)3.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3.8% vs 3.6%, slowing
Profit margin 2018 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.45% → 25%
Pace: the 5-year rate starts in 2020 (pandemic)

Watch EXSR, get fair value alerts →

Compare Exchange Bank with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks

Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside +14.0% · Top 25%
Profitability
Return on equity (12 months) 9.6% · Below median
Return on assets 0.9% · Below median
Net margin (12 months) 26.5% · Below median
Operating margin (12 months) 34.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 1.5% · Below median
Dividend yield (12 months) 3.5% · Above median
Balance sheet
Debt / equity 0.12× · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 8.0× · Cheapest 25%
P/B 0.74× · Cheapest 25%
P/S (12 months) 2.10× · Cheapest 25%
Price / free cash flow (fiscal year) 11.8× · Pricier than median
EV/EBITDA 2.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)52 · sector 8
FUTURE (revenue growth)8 · sector 47
PAST (return on equity)38 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)71 · sector 53

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs EXSR
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs EXSR
BNP Paribas SA BNP €91.93 €106.01 +15% vs EXSR
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs EXSR
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs EXSR
UniCredit S.p.A UCG €76.80 €50.44 −34% vs EXSR
Mizuho Financial Group MFG $9.40 $5.89 −37% vs EXSR
DBS Group D05 69.72 SGD 40.39 SGD −42% vs EXSR
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs EXSR
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs EXSR

Explore undervalued stocks

More undervalued Financial Services stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend StocksUndervalued 52-Week Low Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Free calculator Peter Lynch Fair Value Formula &…Free calculator
Run the numbers yourself: free valuation calculators
DCF CalculatorP/E Ratio CalculatorPEG Ratio CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorIntrinsic ValueIntrinsic vs Extrinsic ValueP/E Ratio by Sector
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Exchange Bank: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Exchange Bank Fair Value". https://www.fairvalue-calculator.com/stock/EXSR

Frequently asked questions

Is Exchange Bank (EXSR) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $171.03 versus a price of $150.00, about +14% upside (undervalued).
What is the fair value of EXSR?
Our model-based fair value for Exchange Bank is $171.03 (as of Nov 8, 2026), built from audited fundamentals. The current price: $150.00.
What is the quality score of EXSR?
Exchange Bank has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Exchange Bank (EXSR)?
Our model-based price target is the fair value of $171.03 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario $153.25, optimistic scenario $202.25. It is a calculation from audited fundamentals, not an analyst target.
What is the Exchange Bank stock forecast for 2026?
Our models put fair value at $171.03, about +14% upside versus a price of $150.00 (undervalued). Cautious scenario $153.25, optimistic scenario $202.25. The calculation is refreshed regularly with new filings.
What is the revenue of Exchange Bank (EXSR)?
Exchange Bank reported trailing-twelve-month revenue of about $123M (latest available figure, as of Nov 8, 2026).
Does Exchange Bank pay a dividend?
Exchange Bank currently shows a dividend yield of 3.53% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Exchange Bank (EXSR) and when is the ex-dividend date?
Exchange Bank pays a dividend of $5.30 per share a year, a dividend yield of 3.5%. The last ex-dividend date was Sep 4, 2026. A dividend has been paid every year since 2012. The payout ratio is 28.3% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of Exchange Bank (EXSR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Exchange Bank it is $171.03 per share (as of Nov 8, 2026), against a price of $150.00. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Exchange Bank stock overvalued or undervalued in 2026?
As of Nov 8, 2026, EXSR trades below its calculated fair value: price $150.00, fair value $171.03, a gap of about +14% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EXSR?
No. The price is what the market pays today ($150.00); the fair value is what the company's own numbers justify ($171.03). For Exchange Bank the two are $21.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is Exchange Bank worth?
The market values Exchange Bank at about $257M (market capitalisation, as of Nov 8, 2026). Per share that is $150.00; our models calculate a fair value of $171.03 per share.
What do the bullish and bearish scenarios say about EXSR?
Our models span a range for Exchange Bank: cautious scenario $153.25, base $171.03, optimistic $202.25 per share (as of Nov 8, 2026, price $150.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EXSR?
Exchange Bank trades at a price-to-earnings ratio of 8.0 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $171.03 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 7.7. Other multiples: P/B 0.7, P/S 2.1, EV/EBITDA 2.8.
How solid is the balance sheet of Exchange Bank (EXSR)?
Balance-sheet figures for Exchange Bank (as of Nov 8, 2026): return on equity 9.6%, debt of 0.12 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is EXSR from its 52-week high?
Exchange Bank trades at $150.00, about 11% below its 52-week high of $168.55 and 32% above the low of $113.57 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $171.03 is for.
Which stocks are comparable to Exchange Bank?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Exchange Bank stock attractive at the current price?
The data as of Nov 8, 2026: price $150.00, calculated fair value $171.03 (+14%), Quality Score 54/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EXSR calculated?
We run Exchange Bank through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $171.03 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Exchange Bank currently trades 12% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Exchange Bank (EXSR)?
The closing price on Nov 6, 2026 was $150.00. Our model-based fair value is $171.03, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Exchange Bank right now?
The price is below even our cautious bear case ($153.25). The market is more pessimistic than our downside scenario. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Exchange Bank (EXSR) come from?
Earnings per share at Exchange Bank grew +2.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.1 %, EBIT margin −4.5 %, tax rate +1.9 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Exchange Bank

How large is the market capitalisation of Exchange Bank (EXSR)?
The market capitalisation of Exchange Bank is $257M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Exchange Bank (EXSR)?
The price-to-sales ratio of Exchange Bank is 2.10 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Exchange Bank (EXSR)?
Earnings per share at Exchange Bank are $18.73 (price ÷ EPS = P/E 8.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Exchange Bank (EXSR)?
The dividend yield of Exchange Bank is 3.5% (payout 28.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Exchange Bank (EXSR)?
The net margin of Exchange Bank is 26.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Exchange Bank (EXSR)?
The return on equity (ROE) of Exchange Bank is 9.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Exchange Bank (EXSR)?
On an EBIT basis the return on assets of Exchange Bank is 1.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Exchange Bank (EXSR)?
The operating margin of Exchange Bank is 34.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Exchange Bank (EXSR)?
Revenue at Exchange Bank is growing +1.5% versus a year earlier (3y avg +7.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Exchange Bank (EXSR)?
Earnings per share at Exchange Bank are growing +3.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Exchange Bank (EXSR) generate?
The free cash flow of Exchange Bank is $21.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Exchange Bank (EXSR) hold?
Exchange Bank holds more cash than debt, $148M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed

Watch Exchange Bank in the live analysis

One click puts Exchange Bank on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.