Last $11.48 USD
Change Today +0.12 / 1.06%
Volume 16.1K
CHFN On Other Exchanges
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NASDAQ CM
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

charter financial corp (CHFN) Key Developments

Charter Financial Seeks Acquisitions

Charter Financial Corporation (NasdaqCM:CHFN) said, "Our management team is taking actions to enhance shareholder value, including consolidating branches, reviewing personnel, developing new products, and continuing to review acquisition opportunities."

Charter Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended September 30, 2014; Announces Net Loan Charge-Off for the Fourth Quarter Ended September 30, 2014

Charter Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended September 30, 2014. For the quarter, the company reported net income of $1,042,077 or $0.06 per basic and diluted share compared with $919,772 or $0.04 per basic and diluted share for the same period in the last year. Net interest income was $7,082,294 against $8,263,777 a year ago. Income before income taxes was $1,522,996 against $1,302,180 a year ago. Book value per share as on September 30, 2014 was $12.32 against $12.03 as on September 30, 2013. Return on equity was 1.78% against 1.32% a year ago. Return on assets was 0.41% against 0.33% a year ago. The slight increase in net income and earnings per share was primarily the result of reduced provision for loan losses due to improved credit quality and higher noninterest income, partially offset by lower discount accretion and amortization. Total interest income was $8,459,846 compared to $9,925,333 for the last year. Net decrease to total interest income of $1.4 million due to impact of accretion income and FDIC loss share receivable amortization. For the year, the company reported net income of $5,955,133 or $0.28 per diluted share compared with $6,256,417 or $0.30 per basic and diluted share, for the same period in the last year. Net interest income was $29,917,966 against $35,275,350 a year ago. Income before income taxes was $8,697,346 against $9,124,917 a year ago. Return on equity was 2.28% against 2.98% a year ago. Return on assets was 0.56% against 0.58% a year ago. The decrease in net income was primarily attributable to a $5.8 million decrease in discount accretion and amortization of the FDIC loss share receivable, partially offset by an increase to noninterest income and decreases to both interest expense and provision for loan losses. Total interest income was $35,647,731 compared to $42,636,469 for the last year. The company had net loan charge-offs of $132,000 on non-covered loans for the three months ended September 30, 2014, compared to net loan charge-offs of $492,000 on non-covered loans for the same period in fiscal 2013.

Charter Financial Declares Regular Quarterly Cash Dividend Payable on November 25, 2014

Charter Financial Corporation announced that its board of directors has declared a regular quarterly cash dividend of $0.05 per share. The dividend is payable on November 25, 2014, to stockholders of record as of November 10, 2014.

Charter Financial Corporation Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014

Charter Financial Corporation Presents at FIG Partners 10th Annual Bank CEO Forum, Sep-15-2014 . Venue: Four Seasons, Atlanta, Georgia, United States.

Charter Financial Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014

Charter Financial Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported net income of $1.8 million, or $0.09 per basic and diluted share, for the quarter ended June 30, 2014, compared with $1.6 million, or $0.07 per basic and diluted share, for the quarter ended June 30, 2013. The increase in net income was primarily attributable to an $834,000 negative loan loss provision on covered loans related to improved credit quality and workout experience, along with the absence of a non-covered loan loss provision in the 2014 third quarter versus $500,000 in the prior year quarter and a $573,000 increase in noninterest income. The increase was partially offset by a decline in net interest income of $1.3 million for the quarter ended June 30, 2014. Net interest income was $7,620,944,000 against $8,910,553,000 a year ago. Income before income taxes was $2,655,294,000 against $2,267,462,000 a year ago. Book value per share was $12.20 against $12.27 a year ago. Tangible book value per share was $11.95 against $12.04 a year ago. Return on equity was 2.71% against 2.38% a year ago. For the nine months, the company reported net income of $4.9 million, or $0.23 and $0.22 per basic and diluted share, respectively, compared with $5.3 million, or $0.26 per basic and diluted share, for the nine months ended June 30, 2013. The decrease in net income and earnings per share for the nine months ended June 30, 2014, was primarily the result of lower net purchase discount accretion, partially offset by reduced provision for loan losses due to improved credit quality and higher noninterest income. Net interest income was $22,835,672,000 against $27,011,573,000 a year ago. Income before income taxes was $7,174,350,000 against $7,822,737,000 a year ago. Return on equity was 2.42% against 3.81% a year ago.

 

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CHFN

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Valuation CHFN Industry Range
Price/Earnings 40.7x
Price/Sales 4.6x
Price/Book 0.9x
Price/Cash Flow 32.8x
TEV/Sales 1.0x
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