Insider Selling: CF Bankshares (NASDAQ:CFBK) CEO Sells 8,957 Shares of Stock

Key Points

• CF Bankshares CEO Timothy T. O'dell sold 8,957 shares at an average price of $25.37, reducing his ownership stake by 2.89% to 301,164 shares.
• The company reported earnings of $0.77 per share for the last quarter, surpassing expectations, and announced a quarterly dividend increase to $0.08 per share.
• Institutional investors now hold 41.06% of CF Bankshares, with notable increases in holdings by several hedge funds in the last quarter.

CF Bankshares Inc. (NASDAQ:CFBK - Get Free Report) CEO Timothy T. O'dell sold 8,957 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $25.37, for a total transaction of $227,239.09. Following the sale, the chief executive officer directly owned 301,164 shares in the company, valued at $7,640,530.68. This represents a 2.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

CF Bankshares Stock Down 0.2%

CFBK traded down $0.05 during trading hours on Wednesday, hitting $24.43. 615 shares of the company's stock were exchanged, compared to its average volume of 19,834. The firm has a market cap of $140.96 million, a P/E ratio of 8.79 and a beta of 0.42. CF Bankshares Inc. has a 12-month low of $19.22 and a 12-month high of $31.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $23.93 and a 200 day moving average of $23.29.

CF Bankshares (NASDAQ:CFBK - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The savings and loans company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. CF Bankshares had a net margin of 14.20% and a return on equity of 10.44%. The company had revenue of $15.58 million during the quarter, compared to analysts' expectations of $14.73 million.

CF Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Friday, July 11th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $0.32 annualized dividend and a yield of 1.3%. This is a boost from CF Bankshares's previous quarterly dividend of $0.07. CF Bankshares's dividend payout ratio is 11.51%.

Institutional Trading of CF Bankshares

Several hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC raised its holdings in 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 acquiring an additional 441 shares in the last quarter. Bank of America Corp DE raised its holdings in CF Bankshares by 1,305.7% during the second quarter. Bank of America Corp DE now owns 1,729 shares of the savings and loans company's stock worth $41,000 after purchasing an additional 1,606 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in CF Bankshares during the second quarter worth approximately $50,000. Fourthstone LLC raised its holdings in CF Bankshares by 450.2% during the second quarter. Fourthstone LLC now owns 421,191 shares of the savings and loans company's stock worth $10,096,000 after purchasing an additional 344,642 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in CF Bankshares during the second quarter worth approximately $103,000. Institutional investors and hedge funds own 41.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Piper Sandler set a $29.00 price target on shares of CF Bankshares and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Wall Street Zen raised shares of CF Bankshares from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $29.00.

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.