CF Bankshares (NASDAQ:CFBK) Cut to Hold at Wall Street Zen

Key Points

• CF Bankshares was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, impacting investors' perceptions of the stock.
• Piper Sandler has set a price target of $29.00 on CF Bankshares while maintaining an "overweight" rating.
• Institutional investors now own 41.06% of CF Bankshares, with several significant purchases made during the fourth quarter.

Wall Street Zen lowered shares of CF Bankshares (NASDAQ:CFBK - Free Report) from a buy rating to a hold rating in a report released on Saturday.

Separately, Piper Sandler set a $29.00 price objective on shares of CF Bankshares and gave the stock an "overweight" rating in a research note on Wednesday, May 21st.

CF Bankshares Stock Performance

NASDAQ:CFBK traded up $0.37 during mid-day trading on Friday, hitting $23.90. The stock had a trading volume of 729 shares, compared to its average volume of 19,585. The stock has a market capitalization of $124.73 million, a price-to-earnings ratio of 8.60 and a beta of 0.42. The company has a 50 day simple moving average of $23.80 and a 200-day simple moving average of $23.26. CF Bankshares has a 52 week low of $19.22 and a 52 week 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 0.62.

CF Bankshares (NASDAQ:CFBK - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. 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. The company had revenue of $15.58 million for the quarter, compared to analysts' expectations of $14.73 million. CF Bankshares had a net margin of 14.20% and a return on equity of 10.58%.

CF Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Friday, July 11th were issued a dividend of $0.08 per share. This is an increase from CF Bankshares's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, July 11th. CF Bankshares's payout ratio is 14.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhino Investment Partners Inc bought a new position in shares of CF Bankshares in the 4th quarter worth $5,557,000. Northern Trust Corp bought a new position in CF Bankshares in the 4th quarter worth about $486,000. Millennium Management LLC bought a new position in CF Bankshares in the 4th quarter worth about $395,000. 683 Capital Management LLC bought a new stake in shares of CF Bankshares during the 4th quarter valued at about $340,000. Finally, Jane Street Group LLC bought a new stake in CF Bankshares in the 1st quarter worth approximately $263,000. Institutional investors and hedge funds 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.