SB Financial Group
SBFG on Nasdaq. Sound Financial Bancorp sells loans and deposit accounts to people and businesses. Market value $181m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 10 cents. Above 10 is good.
What you pay for each dollar of net assets: $1.26.
Profit per $100 you pay: $9.09.
Quality score: 55 of 100. Price score: 93 of 100. Our list needs 70 on quality and 60 on price.
$29.48 a share, 62% above its 1-year low
Over the past year the price has ranged from $18.16 to $32.93.
Dividend: 2.1% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | n/a | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.01bn | 0.01bn | 0.01bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsUnknown
- Buying back its own sharesYes, 11% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Profit: $4 million, about the same as a year ago.
- Spare cash over the past 12 months: $23 million, up from $11 million.
- 4% fewer shares than a year ago. Each share owns a bit more of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | $2m |
| December 2024 | $4m |
| March 2025 | $2m |
| June 2025 | $4m |
| September 2025 | $4m |
| December 2025 | $4m |
| March 2026 | $4m |
| June 2026 | $4m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 6 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
2 long-term investors we follow own it, unchanged from 2 last quarter. 74 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $900,294
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| First Manhattan Co.First Manhattan partners | $900,294 | <0.1% | |
| LSV Asset ManagementJosef Lakonishok | $149,000 | <0.1% | Added |
Largest holders overall
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Manulife Investment Management (US) LLCPassive investorat least 7.5%0.0 pts(filed with 1 related holder)Since 30 June 2026
- Cutler Capital Management, LLCPassive investor6.0%Since 31 December 2024
- The State Bank and Trust CompanyPassive investorat least 4.7%(filed with 1 related holder)Since 31 December 2024
- FJ Capital Management LLCPassive investorat least 4.1%−1.5 pts(filed with 2 related holders)Since 30 June 2025
- Strategic Value Investors LPPassive investorat least 3.9%(filed with 4 related holders)Since 30 June 2026
- Vanguard Capital ManagementPassive investorSold down below 5%Since 30 June 2026
- AllianceBernstein L.P.Passive investorSold down below 5%Since 31 March 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Manulife Investment Management (US) LLC Passive investor | at least 7.5%0.0 pts (filed with 1 related holder) | 30 June 2026 | |
Cutler Capital Management, LLC Passive investor | 6.0% | 31 December 2024 | |
The State Bank and Trust Company Passive investor | at least 4.7% (filed with 1 related holder) | 31 December 2024 | |
FJ Capital Management LLC Passive investor | at least 4.1%−1.5 pts (filed with 2 related holders) | 30 June 2025 | |
Strategic Value Investors LP Passive investor | at least 3.9% (filed with 4 related holders) | 30 June 2026 | |
Vanguard Capital Management Passive investor | Sold down below 5% | 30 June 2026 | |
AllianceBernstein L.P. Passive investor | Sold down below 5% | 31 March 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $993 of shares on the open market. 1 sold $21,641.
- Strausbaugh Sue AnnDirectorBought
- Date
- 4 March 2026
- Shares
- 48
- Price
- $20.68
- Value
- $993
- HARDGROVE RICHARD LDirectorSold
- Date
- 4 February 2026
- Shares
- 977
- Price
- $22.15
- Value
- $21,641
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 4 March 2026 | Strausbaugh Sue Ann Director | Bought | 48 | $20.68 | $993 |
| 4 February 2026 | HARDGROVE RICHARD L Director | Sold | 977 | $22.15 | $21,641 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.