CF Bankshares (NASDAQ:CFBK) Announces Earnings Results, Misses Expectations By $0.48 EPS

CF Bankshares (NASDAQ:CFBK) announced its earnings results on Monday. The savings and loans company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.48), Zacks reports. The firm had revenue of $15.51 million during the quarter, compared to analyst estimates of $15.88 million. CF Bankshares had a net margin of 14.20% and a return on equity of 10.44%.

CF Bankshares Stock Performance

Shares of CFBK stock opened at $23.35 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.66. CF Bankshares has a 12-month low of $19.22 and a 12-month high of $31.17. The business’s 50 day moving average is $24.13 and its two-hundred day moving average is $23.90. The company has a market capitalization of $148.67 million, a P/E ratio of 8.40 and a beta of 0.45.

CF Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Monday, October 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. CF Bankshares’s dividend payout ratio is presently 11.51%.

Analyst Ratings Changes

A number of equities research analysts have commented on CFBK shares. Wall Street Zen upgraded CF Bankshares from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. Zacks Research lowered shares of CF Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings lowered shares of CF Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, CF Bankshares currently has an average rating of “Hold” and an average price target of $29.00.

Insider Activity

In related news, CEO Timothy T. O’dell sold 10,833 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $25.50, for a total value of $276,241.50. Following the completion of the sale, the chief executive officer owned 290,121 shares of the company’s stock, valued at approximately $7,398,085.50. The trade was a 3.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 20,000 shares of company stock worth $508,735. Company insiders own 21.00% of the company’s stock.

Institutional Investors Weigh In On CF Bankshares

A number of large investors have recently modified their holdings of CFBK. Geode Capital Management LLC increased its holdings in shares of CF Bankshares by 108.4% in the second quarter. Geode Capital Management LLC now owns 86,433 shares of the savings and loans company’s stock valued at $2,072,000 after purchasing an additional 44,963 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of CF Bankshares by 1.7% in the second quarter. Bridgeway Capital Management LLC now owns 27,097 shares of the savings and loans company’s stock valued at $650,000 after purchasing an additional 441 shares during the period. Goldman Sachs Group Inc. increased its position in CF Bankshares by 30.5% during the first quarter. Goldman Sachs Group Inc. now owns 20,998 shares of the savings and loans company’s stock worth $463,000 after purchasing an additional 4,910 shares during the last quarter. Jane Street Group LLC acquired a new stake in CF Bankshares during the first quarter worth about $263,000. Finally, New York State Common Retirement Fund purchased a new position in CF Bankshares during the second quarter worth about $103,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

About CF Bankshares

CF Bankshares Inc operates as the bank holding company for CFBank, National Association that provides various banking products and services in the United States. The company accepts savings, retail and business checking accounts, and money market accounts, as well as certificates of deposit. It offers single-family mortgage loans; commercial real estate and multi-family residential mortgage loans; commercial loans and equipment leases; residential real estate loans and treasury management depository services; retail banking services and products.