Charter Financial Corp. (CHFN) Downgraded to Sell at BidaskClub
BidaskClub lowered shares of Charter Financial Corp. (NASDAQ:CHFN) from a hold rating to a sell rating in a research report sent to investors on Thursday.
A number of other research analysts also recently weighed in on CHFN. ValuEngine raised Charter Financial Corp. from a hold rating to a buy rating in a research note on Friday, June 9th. FIG Partners reissued a market-perform rating on shares of Charter Financial Corp. in a research note on Friday, June 2nd. Finally, Sandler O’Neill assumed coverage on Charter Financial Corp. in a research note on Monday, April 17th. They issued a buy rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $18.50.
Shares of Charter Financial Corp. (NASDAQ:CHFN) traded up 2.68% during midday trading on Thursday, hitting $16.83. The stock had a trading volume of 9,182 shares. Charter Financial Corp. has a 52 week low of $12.51 and a 52 week high of $21.10. The stock has a market capitalization of $241.56 million, a price-to-earnings ratio of 16.15 and a beta of 0.41. The stock has a 50 day moving average price of $17.93 and a 200-day moving average price of $18.46.
Charter Financial Corp. (NASDAQ:CHFN) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The company had revenue of $16.63 million for the quarter, compared to the consensus estimate of $16.74 million. Charter Financial Corp. had a return on equity of 7.57% and a net margin of 21.28%. Equities research analysts anticipate that Charter Financial Corp. will post $1.16 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, August 8th. This is an increase from Charter Financial Corp.’s previous quarterly dividend of $0.07. Charter Financial Corp.’s dividend payout ratio (DPR) is presently 26.92%.
In related news, President Lee Washam sold 2,980 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $18.03, for a total transaction of $53,729.40. Following the sale, the president now owns 141,928 shares of the company’s stock, valued at approximately $2,558,961.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 14,273 shares of company stock worth $258,689 in the last ninety days. 10.40% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. American International Group Inc. increased its stake in shares of Charter Financial Corp. by 6.8% in the first quarter. American International Group Inc. now owns 8,359 shares of the bank’s stock valued at $164,000 after buying an additional 529 shares during the last quarter. Sei Investments Co. increased its stake in shares of Charter Financial Corp. by 6.6% in the first quarter. Sei Investments Co. now owns 9,960 shares of the bank’s stock valued at $196,000 after buying an additional 615 shares during the last quarter. Strs Ohio increased its stake in shares of Charter Financial Corp. by 308.0% in the first quarter. Strs Ohio now owns 10,200 shares of the bank’s stock valued at $200,000 after buying an additional 7,700 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Charter Financial Corp. during the fourth quarter valued at approximately $175,000. Finally, Trexquant Investment LP acquired a new stake in shares of Charter Financial Corp. during the second quarter valued at approximately $194,000. 65.17% of the stock is currently owned by institutional investors and hedge funds.
Charter Financial Corp. Company Profile
Charter Financial Corporation is a savings and loan holding company for CharterBank (the Bank). The Bank is a federally-chartered savings bank. The Bank’s principal business consists of attracting retail deposits from the general public and investing those deposits, together with funds generated from operations, in commercial real estate loans, one- to four-family residential mortgage loans, construction loans and investment securities, commercial business loans, home equity loans and lines of credit, and other consumer loans.
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