CF Bankshares (NASDAQ:CFBK) Shares Cross Above Fifty Day Moving Average - Here's What Happened

Shares of CF Bankshares Inc. (NASDAQ:CFBK - Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $23.80 and traded as high as $24.35. CF Bankshares shares last traded at $24.20, with a volume of 67,334 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CFBK shares. Wall Street Zen raised shares of CF Bankshares from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Piper Sandler set a $29.00 price objective on shares of CF Bankshares and gave the company an "overweight" rating in a report on Wednesday, May 21st.

CF Bankshares Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm's 50 day moving average is $23.84 and its 200-day moving average is $23.24. The stock has a market capitalization of $126.22 million, a price-to-earnings ratio of 10.65 and a beta of 0.41.

CF Bankshares (NASDAQ:CFBK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The savings and loans company reported $0.68 earnings per share (EPS) for the quarter. CF Bankshares had a net margin of 11.67% and a return on equity of 8.71%.

CF Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Friday, July 11th will be paid a $0.08 dividend. This is a boost from CF Bankshares's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, July 11th. CF Bankshares's payout ratio is currently 12.33%.

Hedge Funds Weigh In On CF Bankshares

Large investors have recently made changes to their positions in the company. Rhino Investment Partners Inc acquired a new position in CF Bankshares during the fourth quarter worth $5,557,000. Truffle Hound Capital LLC raised its position in shares of CF Bankshares by 8.2% in the first quarter. Truffle Hound Capital LLC now owns 86,520 shares of the savings and loans company's stock valued at $1,907,000 after buying an additional 6,520 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of CF Bankshares by 17.0% in the fourth quarter. Kennedy Capital Management LLC now owns 43,488 shares of the savings and loans company's stock valued at $1,111,000 after buying an additional 6,309 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CF Bankshares by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 38,773 shares of the savings and loans company's stock valued at $991,000 after buying an additional 1,448 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of CF Bankshares by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 28,710 shares of the savings and loans company's stock valued at $733,000 after buying an additional 2,961 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.