CF Bankshares Inc. (NASDAQ:CFBK) Sees Significant Growth in Short Interest

Key Points

• Short interest rose sharply: CF Bankshares’ short interest increased 68.7% to 101,905 shares as of July 31, representing 1.9% of shares outstanding and 1.3 days to cover.
• Institutional ownership expanded: Several institutional investors increased or initiated positions, with hedge funds and other institutions now owning 41.06% of the company.
• Results and outlook were positive: Quarterly earnings of $0.90 per share and revenue of $16.55 million exceeded analyst estimates. Analysts maintain a “Moderate Buy” consensus with a $40 price target, while the company pays a $0.09 quarterly dividend.

CF Bankshares Inc. (NASDAQ:CFBK - Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 101,905 shares, an increase of 68.7% from the July 15th total of 60,402 shares. Based on an average daily volume of 77,789 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fourthstone LLC grew its position in CF Bankshares by 6.4% during the 4th quarter. Fourthstone LLC now owns 634,535 shares of the savings and loans company's stock worth $15,832,000 after purchasing an additional 38,259 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of CF Bankshares by 5.7% during the 3rd quarter. Alliancebernstein L.P. now owns 462,268 shares of the savings and loans company's stock valued at $11,071,000 after buying an additional 24,775 shares during the last quarter. BlackRock Inc. acquired a new position in CF Bankshares in the second quarter valued at approximately $12,378,000. First Manhattan CO. LLC. lifted its stake in shares of CF Bankshares by 5.6% in the 4th quarter. First Manhattan CO. LLC. now owns 187,022 shares of the savings and loans company's stock valued at $4,666,000 after purchasing an additional 10,000 shares during the period. Finally, Rhino Investment Partners Inc acquired a new position in shares of CF Bankshares in the first quarter worth about $3,499,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

CF Bankshares Trading Down 0.4%

NASDAQ:CFBK traded down $0.13 during midday trading on Monday, hitting $35.92. 26,826 shares of the company traded hands, compared to its average volume of 56,057. The firm has a market capitalization of $230.61 million, a P/E ratio of 12.34 and a beta of 0.39. The firm's fifty day moving average is $32.79 and its 200-day moving average is $30.45. CF Bankshares has a 12-month low of $22.10 and a 12-month high of $36.94. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59.

CF Bankshares (NASDAQ:CFBK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The savings and loans company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. CF Bankshares had a net margin of 15.10% and a return on equity of 10.10%. The company had revenue of $16.55 million for the quarter, compared to analyst estimates of $16.30 million. On average, sell-side analysts predict that CF Bankshares will post 3.56 EPS for the current year.

CF Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, July 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. CF Bankshares's dividend payout ratio (DPR) is currently 12.37%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CFBK. Weiss Ratings reiterated a "buy (b)" rating on shares of CF Bankshares in a research note on Friday, June 12th. Piper Sandler reiterated an "overweight" rating and issued a $40.00 price target (up from $36.00) on shares of CF Bankshares in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, CF Bankshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

CF Bankshares Company Profile

CF Bankshares, Inc is a bank holding company headquartered in Wichita, Kansas. Through its primary subsidiary, Community First Bank, Wichita, N.A., the company provides a broad range of financial services to individuals, businesses and agricultural clients. CF Bankshares emphasizes community-oriented banking, combining local market knowledge with a personalized approach to customer relationships.

The company's offerings include traditional deposit accounts such as checking, savings and money market products, along with a variety of commercial and consumer lending solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source