Stock fact sheet · data as of
Ballston Spa Bancorp, Inc. (BSPA): fair value, margin of safety and Wheel Score
Ticker symbol BSPA · Financial Services · Banks - Regional · United States · Value
Is BSPA undervalued?
BSPA closed at 80.98 on 5 Nov 2026, more than 30% above the GLS average fair value of 20.35. Only 0 of the 8 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the "below fair value" Wheel Trade Filter keeps names like this under 70.
The 8 models disagree widely: GLS Growth gives 1.17 while Graham Number gives 52.06. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, BSPA is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 43, growth score 15, out of 100).
Nine valuation models for BSPA
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 29.05 | -64% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 52.06 | -36% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 22.53 | -72% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 5.59 | -93% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 1.17 | -99% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 17.48 | -78% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 19.42 | -76% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 15.51 | -81% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -1,140.27 | -1508% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - BSPA passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 6.1 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are thin or negative - ROIC 3.0%, ROE 6.4%, ROA 0.5% - with debt at 1.15 times equity and negative free cash flow.
The dividend yield is 1.63% at a payout ratio of 56%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Financial Service, Other 30%, Debit Card 29%, Administrative Service 26% (quarter Q2 FY2026).
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 3.0% |
|---|---|---|---|
| GLS Moat | 6.1 / 10 | ROE | 6.4% |
| Debt / equity | 1.15 | ROA | 0.5% |
| Free-cash-flow yield | -0.1% | Payout ratio | 56% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 19: No options
BSPA has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (19 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 0k shares a day on a market cap of $60M, with a beta of -0.13 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 298% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $60M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 298% above fair value | |
| Premium | Weak | no option data | |
| Moat | Good | moat 6.1/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta -0.13, $60M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for BSPA in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Ballston Spa Bancorp, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| OTTW Ottawa Bancorp, Inc. | 19.25 | 13.40 | -44% | 18No options | $60M |
| NTBP New Tripoli Bancorp, Inc. | 960.00 | 653.73 | -47% | 17No options | $61M |
| ESBS ES Bancshares, Inc. | 8.60 | 9.53 | +10% | 20No options | $59M |
| NIDB Northeast Indiana Bancorp, Inc. | 24.62 | 38.11 | +35% | 35No options | $59M |
| LSFG Lifestore Financial Group, Inc. | 59.55 | 85.03 | +30% | 34No options | $61M |
| TMAK Touchmark Bancshares, Inc. | 13.10 | 13.94 | +6% | 21No options | $59M |
| BAOB The Baraboo Bancorporation, Inc. | 7.01 | 8.53 | +18% | 25No options | $62M |
| FMFG Farmers and Merchants Bancshares, Inc. | 18.99 | 23.75 | +20% | 29No options | $62M |
| NEFBP Neffs Bancorp, Inc. PFD SER A | 395.00 | 202.52 | -95% | 12No options | $58M |
| DENI Denali Bancorporation, Inc. | 20.00 | 39.81 | +50% | 34No options | $58M |
| FFWC FFW Corporation | 53.18 | 76.03 | +30% | 35No options | $58M |
| CEFC Commercial National Financial Corporation | 15.85 | 19.99 | +21% | 30No options | $63M |
⚖ Compare BSPA with 7 of them All Financial Services stocks →
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about BSPA
Is BSPA undervalued right now?
No: at 80.98 the stock trades 298% above the GLS average fair value of 20.35 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of BSPA and what does it mean?
BSPA has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for BSPA?
20.35 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Ballston Spa Bancorp, Inc. report earnings next?
No upcoming earnings date is recorded for BSPA in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does BSPA have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on BSPA, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.