C&F Financial (NASDAQ:CFFI) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• C&F Financial Corporation (NASDAQ:CFFI) shares recently surpassed their 200-day moving average, reaching a price high of $67.20.
• The company announced a quarterly dividend of $0.46, scheduled to be paid on October 1st, 2023, with a payout ratio of 24.37%.
• Institutional investors hold 37.23% of C&F Financial's stock, with notable activity including a 526.3% increase in holdings by Bank of America Corp DE during the last quarter.

C&F Financial Corporation (NASDAQ:CFFI - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $66.15 and traded as high as $67.20. C&F Financial shares last traded at $67.20, with a volume of 6,101 shares trading hands.

C&F Financial Price Performance

The firm has a 50 day simple moving average of $68.59 and a 200-day simple moving average of $66.15. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $217.73 million, a PE ratio of 8.90 and a beta of 0.48.

C&F Financial (NASDAQ:CFFI - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter. C&F Financial had a return on equity of 10.52% and a net margin of 13.67%.The company had revenue of $36.36 million for the quarter.

C&F Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, September 15th. C&F Financial's payout ratio is 24.37%.

Insiders Place Their Bets

In other C&F Financial news, CEO Thomas F. Cherry sold 1,205 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $71.00, for a total value of $85,555.00. Following the completion of the sale, the chief executive officer owned 38,402 shares of the company's stock, valued at approximately $2,726,542. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On C&F Financial

Several institutional investors have recently added to or reduced their stakes in CFFI. Bank of America Corp DE boosted its holdings in C&F Financial by 526.3% in the fourth quarter. Bank of America Corp DE now owns 5,017 shares of the financial services provider's stock worth $357,000 after acquiring an additional 4,216 shares in the last quarter. Citadel Advisors LLC acquired a new stake in C&F Financial in the fourth quarter worth about $459,000. Millennium Management LLC boosted its holdings in C&F Financial by 13.2% in the fourth quarter. Millennium Management LLC now owns 15,311 shares of the financial services provider's stock worth $1,091,000 after acquiring an additional 1,788 shares in the last quarter. American Century Companies Inc. boosted its holdings in C&F Financial by 166.4% in the first quarter. American Century Companies Inc. now owns 32,114 shares of the financial services provider's stock worth $2,164,000 after acquiring an additional 20,057 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in C&F Financial in the first quarter worth about $202,000. Institutional investors and hedge funds own 37.23% of the company's stock.

C&F Financial Company Profile

C&F Financial Corp. is a bank holding company, which engages in the provision of banking services to individuals and businesses. It operates through the following segments: Community Banking, Mortgage Banking and Consumer Finance. The Community Banking segment provides checking and savings deposit accounts, business, real estate, development, mortgage, home equity, and installment loans.

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