Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Chemung Financial Corporation (CHMG)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$51.18 - $108.08$72.55
Multi-Stage$43.77 - $47.79$45.75
Blended Fair Value$59.15
Current Price$52.52
Upside12.62%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS7.93%4.38%1.541.221.211.111.041.051.041.031.021.01
YoY Growth--26.11%0.74%9.01%6.23%-0.46%1.21%1.06%0.80%0.93%0.77%
Dividend Yield--3.23%2.91%2.91%2.37%2.50%3.18%2.15%2.21%2.57%3.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)13.28
(-) Cash Dividends Paid (M)6.17
(=) Cash Retained (M)7.11
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)2.661.661.00
Cash Retained (M)7.117.117.11
(-) Cash Required (M)-2.66-1.66-1.00
(=) Excess Retained (M)4.455.456.11
(/) Shares Outstanding (M)4.804.804.80
(=) Excess Retained per Share0.931.141.27
LTM Dividend per Share1.291.291.29
(+) Excess Retained per Share0.931.141.27
(=) Adjusted Dividend2.212.422.56
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate4.57%5.57%6.57%
Fair Value$51.18$72.55$108.08
Upside / Downside-2.55%38.13%105.79%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)13.2814.0214.8015.6216.4917.4117.93
Payout Ratio46.47%55.18%63.88%72.59%81.29%90.00%92.50%
Projected Dividends (M)6.177.739.4511.3413.4115.6716.59

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate4.57%5.57%6.57%
Year 1 PV (M)7.027.097.16
Year 2 PV (M)7.797.948.09
Year 3 PV (M)8.498.738.98
Year 4 PV (M)9.119.469.83
Year 5 PV (M)9.6710.1410.63
PV of Terminal Value (M)167.84176.02184.52
Equity Value (M)209.93219.39229.21
Shares Outstanding (M)4.804.804.80
Fair Value$43.77$45.75$47.79
Upside / Downside-16.66%-12.90%-9.00%

High-Yield Dividend Screener

« Prev Page 10 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ESPEspey Mfg. & Electronics Corp.3.53%$1.6554.01%
F-PCFord Motor Company 6% Notes due3.53%$0.7463.45%
TECTPTectonic Financial, Inc.3.53%$0.3879.28%
AMFCXAmerican Funds American Mutual Fund3.52%$2.0690.87%
CRCCalifornia Resources Corporation3.52%$1.6435.94%
FAFFirst American Financial Corporation3.51%$2.1446.13%
GICGlobal Industrial Company3.51%$1.0358.36%
0R0G.LMondelez International, Inc.3.50%$1.8969.92%
DCPDCP Midstream, LP3.50%$1.4634.00%
LWLamb Weston Holdings, Inc.3.50%$1.4870.35%
WSOWatsco, Inc.3.50%$12.1683.88%
0QYY.LHarley-Davidson, Inc.3.49%$0.7217.57%
LKFNLakeland Financial Corporation3.49%$1.9752.13%
TRSTTrustCo Bank Corp NY3.49%$1.4448.14%
OMCOmnicom Group Inc.3.47%$2.8341.26%
PROVProvident Financial Holdings, Inc.3.47%$0.5561.73%
UTLUnitil Corporation3.47%$1.7061.75%
BF-ABrown-Forman Corporation3.45%$0.9152.84%
COFSChoiceOne Financial Services, Inc.3.45%$1.0070.38%
FCBPFirst Choice Bancorp3.45%$1.0034.34%
NXSTNexstar Media Group, Inc.3.45%$7.2042.75%
STBAS&T Bancorp, Inc.3.45%$1.3529.75%
VABKVirginia National Bankshares Corporation3.45%$1.3755.94%
F-PBFord Motor Company 6.20% Notes3.44%$0.7463.45%
0K3B.LThe Mosaic Company3.43%$0.8722.53%
CPFCentral Pacific Financial Corp.3.43%$1.0743.87%
CTBICommunity Trust Bancorp, Inc.3.43%$1.9337.41%
IIINInsteel Industries, Inc.3.43%$1.1153.05%
JJSFJ&J Snack Foods Corp.3.43%$3.1192.62%
TMPTompkins Financial Corporation3.43%$2.4942.22%
ALRSAlerus Financial Corporation3.41%$0.7739.09%
CNXCConcentrix Corporation3.41%$1.4028.16%
FBPFirst BanCorp.3.41%$0.7134.06%
GLOClough Global Opportunities Fund3.41%$0.1915.90%
OPBKOP Bancorp3.41%$0.4830.19%
PHXPHX Minerals Inc.3.39%$0.1581.44%
WHGWestwood Holdings Group, Inc.3.39%$0.6073.76%
SCVLShoe Carnival, Inc.3.38%$0.5928.17%
OGSONE Gas, Inc.3.37%$2.6161.93%
VALUValue Line, Inc.3.36%$1.2555.36%
WTRGEssential Utilities, Inc.3.36%$1.3054.79%
AVNTAvient Corporation3.35%$1.0686.14%
KTBKontoor Brands, Inc.3.35%$2.0653.00%
VCTRVictory Capital Holdings, Inc.3.35%$2.1548.89%
WAFDWaFd, Inc.3.35%$1.0837.44%
PBProsperity Bancshares, Inc.3.34%$2.3241.44%
PFGPrincipal Financial Group, Inc.3.34%$2.9943.04%
EVBNEvans Bancorp, Inc.3.33%$1.3160.97%
NFYSEnphys Acquisition Corp.3.33%$0.3768.70%
KMPRKemper Corporation3.32%$1.3132.45%