Pathfinder Bancorp said on April 3, 2023 that its board of directors declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Previously, the company paid $0.09 per share.
Shares must be purchased before the ex-div date of April 21, 2023 to qualify for the dividend. Shareholders of record as of April 24, 2023 will receive the payment on May 19, 2023.
At the current share price of $17.27 / share, the stock's dividend yield is 2.08%. Looking back five years and taking a sample every week, the average dividend yield has been 1.84%, the lowest has been 1.29%, and the highest has been 2.62%. The standard deviation of yields is 0.29 (n=215).
The current dividend yield is 0.86 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.50%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 38 funds or institutions reporting positions in Pathfinder Bancorp. This is an increase of 3 owner(s) or 8.57% in the last quarter. Average portfolio weight of all funds dedicated to PBHC is 0.08%, a decrease of 56.59%. Total shares owned by institutions increased in the last three months by 2.20% to 797K shares.
What are Large Shareholders Doing?
Minerva Advisors holds 252K shares representing 4.23% ownership of the company. No change in the last quarter.
Oppenheimer & Close holds 92K shares representing 1.54% ownership of the company. No change in the last quarter.
Alliancebernstein holds 88K shares representing 1.48% ownership of the company. In it's prior filing, the firm reported owning 38K shares, representing an increase of 56.99%. The firm increased its portfolio allocation in PBHC by 103.46% over the last quarter.
M3F holds 80K shares representing 1.35% ownership of the company. No change in the last quarter.
Basswood Capital Management, L.l.c. holds 80K shares representing 1.34% ownership of the company. In it's prior filing, the firm reported owning 97K shares, representing a decrease of 22.12%. The firm decreased its portfolio allocation in PBHC by 22.36% over the last quarter.
Pathfinder Bancorp Background Information
(This description is provided by the company.)
Pathfinder Bank is a New York State chartered commercial bank headquartered in Oswego, whose deposits are insured by the Federal Deposit Insurance Corporation. The Bank is a wholly owned subsidiary of Pathfinder Bancorp, Inc. The Bank has ten full-service offices located in its market areas consisting of Oswego and Onondaga County and one limited purpose office in Oneida County. Through its subsidiary, Pathfinder Risk Management Company, Inc., the Bank owns a 51% interest in the FitzGibbons Agency, LLC. At December 31, 2020, there were 4,531,383 shares of common stock issued and outstanding, as well as 1,380,283 shares of convertible perpetual preferred stock issued and outstanding. At December 31, 2020, the Company and subsidiaries had total consolidated assets of $1.2 billion, total deposits of $995.9 million and shareholders' equity of $97.7 million.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
