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

First Choice Bancorp (FCBP)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$20.67 - $29.76$25.10
Multi-Stage$33.79 - $37.10$35.42
Blended Fair Value$30.26
Current Price$24.31
Upside24.47%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR20202019201820172016201520142013
DPS0.00%0.00%1.000.850.650.490.000.000.070.030.000.00
YoY Growth--17.85%30.89%31.62%0.00%0.00%-100.00%104.64%0.00%0.00%0.00%
Dividend Yield--4.11%5.65%3.01%1.82%0.00%0.00%0.25%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)34.16
(-) Cash Dividends Paid (M)11.73
(=) Cash Retained (M)22.43
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)6.834.272.56
Cash Retained (M)22.4322.4322.43
(-) Cash Required (M)-6.83-4.27-2.56
(=) Excess Retained (M)15.6018.1619.87
(/) Shares Outstanding (M)11.7011.7011.70
(=) Excess Retained per Share1.331.551.70
LTM Dividend per Share1.001.001.00
(+) Excess Retained per Share1.331.551.70
(=) Adjusted Dividend2.342.562.70
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$20.67$25.10$29.76
Upside / Downside-14.98%3.26%22.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)34.1633.8233.4833.1532.8232.4933.46
Payout Ratio34.34%45.47%56.60%67.74%78.87%90.00%92.50%
Projected Dividends (M)11.7315.3818.9522.4525.8829.2430.95

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)13.9614.1014.24
Year 2 PV (M)15.6115.9316.25
Year 3 PV (M)16.7817.3017.83
Year 4 PV (M)17.5518.2819.03
Year 5 PV (M)18.0018.9319.91
PV of Terminal Value (M)313.35329.67346.66
Equity Value (M)395.25414.21433.93
Shares Outstanding (M)11.7011.7011.70
Fair Value$33.79$35.42$37.10
Upside / Downside39.02%45.68%52.62%

High-Yield Dividend Screener

« Prev Page 8 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ACICAmerican Coastal Insurance Corporation4.24%$0.4828.28%
NCDLNuveen Churchill Direct Lending Corp.4.24%$0.5730.88%
ESEversource Energy4.23%$2.8879.84%
ISBCInvestors Bancorp, Inc.4.21%$0.5844.24%
KMIKinder Morgan, Inc.4.21%$1.1795.05%
PWODPenns Woods Bancorp, Inc.4.17%$1.2545.44%
DDSDillard's, Inc.4.16%$26.5071.17%
RLIRLI Corp.4.16%$2.6067.96%
TFCTruist Financial Corporation4.16%$2.0753.19%
RMBIRichmond Mutual Bancorporation, Inc.4.15%$0.5854.33%
PRPermian Resources Corporation4.14%$0.6052.90%
RILYTB. Riley Financial, Inc. 6.00% Senior Notes Due 20284.13%$0.5856.91%
DGICADonegal Group Inc.4.12%$0.8028.85%
AUBNAuburn National Bancorporation, Inc.4.11%$1.0876.62%
FHBFirst Hawaiian, Inc.4.11%$1.0650.97%
PORPortland General Electric Company4.09%$1.9872.28%
NEWTLNewtek Business Services Corp.4.08%$1.0244.14%
NEWTGNewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 20294.06%$1.0244.14%
NEWTZNewtek Business Services Corp. 5.50% Notes Due 20264.05%$1.0244.14%
LKQLKQ Corporation4.04%$1.2144.76%
NWENorthwestern Energy Group Inc4.04%$2.6274.07%
PXDPioneer Natural Resources Company4.00%$10.8054.25%
HAFCHanmi Financial Corporation3.99%$1.0744.22%
KSSKohl's Corporation3.99%$0.8550.52%
APAAPA Corporation3.98%$1.0124.12%
NWNNorthwest Natural Holding Company3.98%$1.8676.25%
HFWAHeritage Financial Corporation3.97%$0.9456.54%
WSBCWesBanco, Inc.3.97%$1.3265.39%
FULTFulton Financial Corporation3.96%$0.7739.22%
REYNReynolds Consumer Products Inc.3.96%$0.9163.16%
MSMMSC Industrial Direct Co., Inc.3.95%$3.3995.14%
RF-PFRegions Financial Corporation3.95%$1.0141.98%
NEWTINewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 20283.94%$0.9942.24%
BOHBank of Hawaii Corporation3.93%$2.6958.42%
DCOMDime Community Bancshares, Inc.3.93%$1.1786.59%
OGEOGE Energy Corp.3.93%$1.6967.72%
ASIEXMultisector Income Fund - Investor Class3.92%$0.3596.64%
ESSEssex Property Trust, Inc.3.90%$10.0376.31%
WABCWestamerica Bancorporation3.90%$1.8639.32%
NJRNew Jersey Resources Corporation3.88%$1.7853.65%
XHRXenia Hotels & Resorts, Inc.3.88%$0.5693.99%
ARTNAArtesian Resources Corporation3.87%$1.2255.68%
FFBCFirst Financial Bancorp.3.87%$0.9738.17%
PNWPinnacle West Capital Corporation3.87%$3.4169.92%
UEUrban Edge Properties3.87%$0.7482.23%
NECBNortheast Community Bancorp, Inc.3.86%$0.8827.20%
SCSCXTouchstone Large Cap Focused Fund Class C3.86%$2.8037.43%
BBWIBath & Body Works, Inc.3.85%$0.8024.18%
BHBBar Harbor Bankshares3.85%$1.2054.11%
UGIUGI Corporation3.85%$1.4547.35%