Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Burke & Herbert Bank & Trust Company (BHRB)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$201.73 - $727.47$335.77
Multi-Stage$129.21 - $141.19$135.09
Blended Fair Value$235.43
Current Price$61.69
Upside281.64%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202420232022202120202019
DPS13.82%0.00%1.901.051.050.990.991.000.000.000.000.00
YoY Growth--81.85%0.03%5.86%-0.23%-0.57%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--3.39%1.91%1.42%1.77%2.03%2.05%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)106.86
(-) Cash Dividends Paid (M)33.89
(=) Cash Retained (M)72.97
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)21.3713.368.01
Cash Retained (M)72.9772.9772.97
(-) Cash Required (M)-21.37-13.36-8.01
(=) Excess Retained (M)51.6059.6164.96
(/) Shares Outstanding (M)15.0515.0515.05
(=) Excess Retained per Share3.433.964.32
LTM Dividend per Share2.252.252.25
(+) Excess Retained per Share3.433.964.32
(=) Adjusted Dividend5.686.216.57
WACC / Discount Rate8.47%8.47%8.47%
Growth Rate5.50%6.50%7.50%
Fair Value$201.73$335.77$727.47
Upside / Downside227.01%444.28%1,079.23%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)106.86113.80121.20129.08137.47146.40150.79
Payout Ratio31.71%43.37%55.03%66.68%78.34%90.00%92.50%
Projected Dividends (M)33.8949.3566.6986.07107.69131.76139.48

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.47%8.47%8.47%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)45.0745.5045.93
Year 2 PV (M)55.6256.6857.75
Year 3 PV (M)65.5667.4469.36
Year 4 PV (M)74.9177.7980.76
Year 5 PV (M)83.7087.7591.94
PV of Terminal Value (M)1,619.761,698.001,779.23
Equity Value (M)1,944.632,033.162,124.97
Shares Outstanding (M)15.0515.0515.05
Fair Value$129.21$135.09$141.19
Upside / Downside109.45%118.99%128.88%

High-Yield Dividend Screener

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