Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Macatawa Bank Corporation (MCBC)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$57.12 - $237.67$145.41
Multi-Stage$28.26 - $30.92$29.56
Blended Fair Value$87.49
Current Price$9.64
Upside807.56%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS5.88%9.08%0.330.320.320.320.280.250.180.120.110.08
YoY Growth--3.39%0.18%0.14%14.39%12.14%39.31%50.36%9.37%37.67%-43.20%
Dividend Yield--3.41%3.11%3.52%3.19%3.89%2.44%1.73%1.19%1.73%1.46%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)41.01
(-) Cash Dividends Paid (M)11.63
(=) Cash Retained (M)29.38
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)8.205.133.08
Cash Retained (M)29.3829.3829.38
(-) Cash Required (M)-8.20-5.13-3.08
(=) Excess Retained (M)21.1824.2526.30
(/) Shares Outstanding (M)34.3234.3234.32
(=) Excess Retained per Share0.620.710.77
LTM Dividend per Share0.340.340.34
(+) Excess Retained per Share0.620.710.77
(=) Adjusted Dividend0.961.051.11
WACC / Discount Rate7.27%7.27%7.27%
Growth Rate5.50%6.50%7.50%
Fair Value$57.12$145.41$237.67
Upside / Downside492.53%1,408.45%2,365.51%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)41.0143.6846.5249.5452.7656.1957.88
Payout Ratio28.37%40.69%53.02%65.35%77.67%90.00%92.50%
Projected Dividends (M)11.6317.7724.6632.3740.9850.5753.54

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.27%7.27%7.27%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)16.4116.5716.73
Year 2 PV (M)21.0421.4421.84
Year 3 PV (M)25.5026.2326.98
Year 4 PV (M)29.8130.9632.14
Year 5 PV (M)33.9735.6137.32
PV of Terminal Value (M)843.04883.76926.04
Equity Value (M)969.771,014.561,061.03
Shares Outstanding (M)34.3234.3234.32
Fair Value$28.26$29.56$30.92
Upside / Downside193.14%206.68%220.72%

High-Yield Dividend Screener

« Prev Page 39 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
002450.KSSAMICK MUSICAL INSTRUMENT Co., Ltd4.08%$49.7918.17%
003380.KQHarim Holdings Co., Ltd.4.08%$447.0736.82%
2798.HKPerennial Energy Holdings Limited4.08%$0.059.52%
N2IU.SIMapletree Pan Asia Commercial Trust4.08%$0.0645.97%
WIPRO.BOWipro Limited4.08%$10.9885.26%
000421.SZNanjing Public Utilities Development Co., Ltd.4.07%$0.2891.69%
003030.KSSeAH Steel Holdings Corporation4.07%$5,154.5338.17%
2154.TOpen Up Group Inc.4.07%$75.0151.97%
6411.TWOAmazing Microelectronic Corp.4.07%$3.1585.74%
KINO.JKPT Kino Indonesia Tbk4.06%$56.1756.49%
WIIM.JKPT Wismilak Inti Makmur Tbk4.06%$64.8035.76%
134380.KSMiwon Chemicals Co., Ltd.4.05%$3,833.4233.65%
2912.TWPresident Chain Store Corporation4.05%$8.9883.72%
5438.TWOTeco Image Systems Co., Ltd.4.05%$0.9378.68%
IG.MIItalgas S.p.A.4.05%$0.3936.35%
TWR.AXTower Limited4.05%$0.0719.30%
002215.SZShenzhen Noposion Agrochemicals Co.,Ltd4.04%$0.4361.18%
1603.TWChina Wire & Cable Co., Ltd.4.04%$1.5040.87%
601567.SSNingbo Sanxing Medical Electric Co.,Ltd.4.04%$0.9365.61%
6846.TWOGreenyn Biotechnology Co., Ltd4.04%$2.9867.75%
ASEFA.BKAsefa Public Company Limited4.04%$0.1436.27%
JLG.AXJohns Lyng Group Limited4.04%$0.1653.65%
004910.KSChokwang Paint Co., Ltd.4.03%$200.1355.11%
JTPE.JKPT Jasuindo Tiga Perkasa Tbk4.03%$24.0060.60%
MTDL.JKPT Metrodata Electronics Tbk4.03%$24.0039.08%
SPINNEYS.AESpinneys 1961 Hold4.03%$0.0666.84%
605077.SSZhejiang Huakang Pharmaceutical Co., Ltd.4.02%$0.5970.96%
6190.HKBank of Jiujiang Co., Ltd.4.02%$0.079.94%
THANI.BKRatchthani Leasing Public Company Limited4.02%$0.0745.63%
010770.KSPyung Hwa Holdings Co., Ltd.4.01%$149.9011.24%
0RPP.LValartis Group AG4.01%$0.499.63%
301004.SZZhejiang Cayi Vacuum Container Co., Ltd.4.01%$2.0954.91%
4968.TArakawa Chemical Industries, Ltd.4.01%$48.9456.00%
FESA3.SACia de Ferro Ligas da Bahia - FERBASA4.01%$0.4676.61%
HBOR3.SAHelbor Empreendimentos S.A.4.01%$0.1032.33%
089860.KSLOTTE rental co.,ltd.4.00%$1,199.9835.09%
0OJJ.LACTIA Group S.A.4.00%$0.1233.82%
2128.HKChina Lesso Group Holdings Limited4.00%$0.1915.85%
3338.TWTaiSol Electronics Co., Ltd.4.00%$2.0185.10%
AIL.DEL'Air Liquide S.A.4.00%$6.3556.81%
CUBLionheart Holdings4.00%$0.4393.60%
DHL.DEDeutsche Post AG4.00%$1.8860.01%
FCMC.PASociété Fermière du Casino Municipal de Cannes4.00%$85.5728.90%
009160.KSSIMPAC Inc.3.99%$202.3392.46%
033780.KSKT&G Corporation3.99%$5,606.0952.73%
603309.SSWell Lead Medical Co., Ltd.3.99%$0.5464.79%
6761.TWOWendell Industrial Co., Ltd3.99%$5.6281.14%
MULT3.SAMultiplan Empreendimentos Imobiliários S.A.3.99%$1.0842.74%
300641.SZJiangsu Zhengdan Chemical Industry Co., Ltd.3.98%$0.7035.38%
5126.KLSarawak Oil Palms Berhad3.98%$0.1529.34%