Definitive Analysis
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Definitive Analysis

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C&F Financial Corporation (CFFI)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$114.62 - $207.44$153.32
Multi-Stage$155.49 - $170.67$162.94
Blended Fair Value$158.13
Current Price$67.20
Upside135.31%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.41%3.62%1.791.851.781.751.711.591.521.431.381.28
YoY Growth---3.44%4.00%1.43%2.33%8.09%4.06%6.34%3.88%7.62%2.42%
Dividend Yield--2.65%3.78%3.44%3.47%3.87%3.98%2.96%2.73%2.98%3.36%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)26.17
(-) Cash Dividends Paid (M)5.82
(=) Cash Retained (M)20.35
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.233.271.96
Cash Retained (M)20.3520.3520.35
(-) Cash Required (M)-5.23-3.27-1.96
(=) Excess Retained (M)15.1217.0818.39
(/) Shares Outstanding (M)3.233.233.23
(=) Excess Retained per Share4.675.285.68
LTM Dividend per Share1.801.801.80
(+) Excess Retained per Share4.675.285.68
(=) Adjusted Dividend6.477.087.48
WACC / Discount Rate7.36%7.36%7.36%
Growth Rate1.62%2.62%3.62%
Fair Value$114.62$153.32$207.44
Upside / Downside70.57%128.16%208.69%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)26.1726.8627.5628.2829.0229.7930.68
Payout Ratio22.24%35.79%49.34%62.90%76.45%90.00%92.50%
Projected Dividends (M)5.829.6113.6017.7922.1926.8128.38

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.36%7.36%7.36%
Growth Rate1.62%2.62%3.62%
Year 1 PV (M)8.878.959.04
Year 2 PV (M)11.5711.8012.03
Year 3 PV (M)13.9614.3814.80
Year 4 PV (M)16.0616.7017.36
Year 5 PV (M)17.9018.8019.73
PV of Terminal Value (M)434.61456.42479.10
Equity Value (M)502.97527.05552.06
Shares Outstanding (M)3.233.233.23
Fair Value$155.49$162.94$170.67
Upside / Downside131.39%142.46%153.97%

High-Yield Dividend Screener

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