BidaskClub Upgrades Charter Financial (CHFN) to “Buy”

BidaskClub upgraded shares of Charter Financial (NASDAQ:CHFN) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Separately, ValuEngine cut Charter Financial from a buy rating to a hold rating in a report on Saturday, November 25th.

Charter Financial (NASDAQ CHFN) opened at $19.80 on Tuesday. The firm has a market capitalization of $289.78, a P/E ratio of 21.64 and a beta of 0.45. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.29. Charter Financial has a 12-month low of $15.81 and a 12-month high of $21.10.

Charter Financial (NASDAQ:CHFN) last released its earnings results on Friday, January 26th. The bank reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. Charter Financial had a return on equity of 6.12% and a net margin of 17.69%. The firm had revenue of $19.70 million for the quarter, compared to the consensus estimate of $18.17 million.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, February 12th. This represents a $0.32 dividend on an annualized basis and a yield of 1.62%. This is a boost from Charter Financial’s previous quarterly dividend of $0.08. Charter Financial’s payout ratio is presently 35.17%.

In related news, insider Lee Washam sold 8,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $19.00, for a total transaction of $152,000.00. Following the completion of the transaction, the insider now owns 137,928 shares in the company, valued at approximately $2,620,632. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. purchased a new position in Charter Financial during the 2nd quarter valued at $307,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in Charter Financial by 147.1% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 36,790 shares of the bank’s stock valued at $661,000 after acquiring an additional 21,900 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Charter Financial by 46.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,881 shares of the bank’s stock worth $405,000 after buying an additional 6,919 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of Charter Financial by 37.6% in the 2nd quarter. Nationwide Fund Advisors now owns 48,419 shares of the bank’s stock worth $872,000 after buying an additional 13,222 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Charter Financial by 16.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 365,449 shares of the bank’s stock worth $6,578,000 after buying an additional 52,104 shares during the period. Institutional investors own 66.10% of the company’s stock.

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About Charter Financial

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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