BidaskClub Upgrades Charter Financial (CHFN) to Hold

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

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

Charter Financial (NASDAQ:CHFN) opened at $19.40 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. Charter Financial has a 12-month low of $15.81 and a 12-month high of $21.10. The firm has a market capitalization of $293.10, a P/E ratio of 22.55 and a beta of 0.45.

Charter Financial (NASDAQ:CHFN) last issued its earnings results on Tuesday, November 7th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.05). Charter Financial had a return on equity of 6.17% and a net margin of 17.69%.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Charter Financial’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, February 12th. Charter Financial’s dividend payout ratio is presently 32.97%.

In other news, insider Lee Washam sold 17,400 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $18.78, for a total transaction of $326,772.00. Following the transaction, the insider now directly owns 137,928 shares of the company’s stock, valued at $2,590,287.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of CHFN. Alliancebernstein L.P. raised its position in shares of Charter Financial by 44.7% during the second quarter. Alliancebernstein L.P. now owns 28,176 shares of the bank’s stock worth $507,000 after purchasing an additional 8,700 shares during the period. Teachers Advisors LLC raised its position in shares of Charter Financial by 7.6% during the second quarter. Teachers Advisors LLC now owns 33,536 shares of the bank’s stock worth $604,000 after purchasing an additional 2,370 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Charter Financial by 14.9% during the second quarter. TIAA CREF Investment Management LLC now owns 64,962 shares of the bank’s stock worth $1,169,000 after purchasing an additional 8,426 shares during the period. Ameriprise Financial Inc. purchased a new stake in Charter Financial in the 2nd quarter valued at $307,000. Finally, Nationwide Fund Advisors raised its position in Charter Financial by 37.6% in the 2nd quarter. Nationwide Fund Advisors now owns 48,419 shares of the bank’s stock valued at $872,000 after buying an additional 13,222 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

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Charter Financial 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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