CF Bankshares (NASDAQ:CFBK) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• CF Bankshares reported an earnings per share (EPS) of $0.77 for the quarter, exceeding analysts' expectations of $0.72.
• The company increased its quarterly dividend to $0.08 per share, up from the previous $0.07, reflecting a 1.3% dividend yield.
• Goldman Sachs Group Inc. raised its stake in CF Bankshares by 30.5%, now owning 0.40% of the company valued at approximately $463,000.

CF Bankshares (NASDAQ:CFBK - Get Free Report) announced its quarterly earnings data on Monday. The savings and loans company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05, Zacks reports. CF Bankshares had a return on equity of 10.58% and a net margin of 14.20%. The business had revenue of $15.58 million during the quarter, compared to analyst estimates of $14.73 million.

CF Bankshares Stock Up 1.1%

CF Bankshares stock traded up $0.25 during mid-day trading on Friday, hitting $23.97. 6,233 shares of the company's stock were exchanged, compared to its average volume of 12,455. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $125.12 million, a P/E ratio of 8.62 and a beta of 0.42. CF Bankshares has a 1-year low of $19.22 and a 1-year high of $31.17. The stock has a 50 day moving average of $23.80 and a two-hundred day moving average of $23.27.

CF Bankshares Increases Dividend

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

Institutional Investors Weigh In On CF Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in CFBK. Goldman Sachs Group Inc. increased its stake in shares of CF Bankshares by 30.5% in 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 period. Jane Street Group LLC bought a new position in shares of CF Bankshares in the first quarter worth about $263,000. Finally, Geode Capital Management LLC increased its stake 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 worth $2,072,000 after purchasing an additional 44,963 shares during the period. 41.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CFBK. Piper Sandler set a $29.00 target price on shares of CF Bankshares and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Wall Street Zen downgraded shares of CF Bankshares from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

CF Bankshares Company Profile

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.