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

TowneBank (TOWN)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$52.78 - $140.90$80.86
Multi-Stage$36.94 - $40.31$38.60
Blended Fair Value$59.73
Current Price$34.57
Upside72.78%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS8.73%16.68%0.990.940.830.730.690.650.590.450.400.29
YoY Growth--5.09%13.75%13.49%5.84%5.81%10.06%30.27%12.75%38.92%37.06%
Dividend Yield--2.90%3.42%3.11%2.44%2.27%3.60%2.33%1.61%1.24%1.51%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)169.67
(-) Cash Dividends Paid (M)76.75
(=) Cash Retained (M)92.92
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)33.9321.2112.73
Cash Retained (M)92.9292.9292.92
(-) Cash Required (M)-33.93-21.21-12.73
(=) Excess Retained (M)58.9871.7180.19
(/) Shares Outstanding (M)75.7975.7975.79
(=) Excess Retained per Share0.780.951.06
LTM Dividend per Share1.011.011.01
(+) Excess Retained per Share0.780.951.06
(=) Adjusted Dividend1.791.962.07
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Fair Value$52.78$80.86$140.90
Upside / Downside52.68%133.92%307.58%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)169.67180.70192.45204.95218.28232.46239.44
Payout Ratio45.24%54.19%63.14%72.09%81.05%90.00%92.50%
Projected Dividends (M)76.7597.92121.51147.76176.91209.22221.48

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)88.9389.7790.61
Year 2 PV (M)100.22102.13104.05
Year 3 PV (M)110.67113.85117.09
Year 4 PV (M)120.33124.96129.72
Year 5 PV (M)129.24135.48141.96
PV of Terminal Value (M)2,250.192,358.882,471.72
Equity Value (M)2,799.572,925.063,055.15
Shares Outstanding (M)75.7975.7975.79
Fair Value$36.94$38.60$40.31
Upside / Downside6.86%11.65%16.61%

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%