Pathfinder Bancorp Inc. Common Stock (MD) (PBHC)

FairStock Score: 35/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham investor, I start with a bank's profitability and consistency. Pathfinder Bancorp is a small regional bank holding company. Its filed record is not reassuring: net income was $9.3M in FY2023, $3.4M in FY2024, and -$1.9M in FY2025; fiscal Q3 2025 had $626,000, fiscal Q2 2025 had $31,000, then fiscal Q1 2026 had $2.4M and fiscal Q2 2026 had $2.7M. That recent recovery is real, but two quarters do not create a durable earnings record. FairStock's price-to-book is 0.83 at the 2026-10-13 close of $16.71, so the market prices it below book value, and the 2.39% dividend yield with a 0.12 beta looks defensive. But FairStock's ROE is 0.11% and ROCE is 0.01%—far below what a good bank should earn—while the P/E of 1671 on EPS of $0.01 shows current earnings power is almost nil. A Piotroski F-Score of 3/9 reinforces weak signals. The company takes checking, savings, money-market, and CD deposits and makes commercial real estate, commercial, residential, construction, home-equity, and consumer loans. That can be a decent local franchise, but I see no evidence of a wide moat. Bank-specific measures like CET1, net interest margin, nonperforming loans, loss reserves, and loan-to-deposit ratio are not in the data, so credit and leverage risk cannot be fully judged. The Lynch category is TURNAROUND because the latest filed year had a loss after earlier profits. At 0.83x book there is asset-based support, but without sustainable ROE, book value may not grow. FairStock score 35/100. I would call it a speculative turnaround, not a high-quality compounder.

In plain English: Pathfinder Bancorp is a small bank holding company that takes deposits and makes loans to people and businesses. Its profits have been uneven: it lost money in its latest full year but made $2.7 million in the quarter ended June 30, 2026. The stock trades for less than the value of its net assets on its books and pays a modest dividend, but current earnings are very low, so the price looks more like a turnaround bet than a clearly cheap, stable business.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer