CF Bankshares Inc. (NASDAQ:CFBK) Shareholders to Get $0.09 Quarterly Dividend

Key Points

• CF Bankshares declared a quarterly dividend of $0.09 per share, payable October 20 to shareholders of record on October 12. The annualized dividend is $0.36, representing a 1.1% yield, with an ex-dividend date of October 9.
• The dividend appears well covered, with a current payout ratio of 10.5%; analysts expect next year’s earnings to support an estimated payout ratio of just 8.6%. The company has increased its dividend for four consecutive years.
• CF Bankshares shares slipped 0.1% to $33.88, while recent quarterly earnings of $0.90 per share topped analyst expectations of $0.89. Institutional investors own approximately 41.1% of the company.

CF Bankshares Inc. (NASDAQ:CFBK - Get Free Report) declared a quarterly dividend on Thursday, October 1st. Stockholders of record on Monday, October 12th will be paid a dividend of $0.09 per share by the savings and loans company on Tuesday, October 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, October 9th.

CF Bankshares has increased its dividend payment by an average of 0.6%per year over the last three years and has raised its dividend every year for the last 4 years. CF Bankshares has a payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect CF Bankshares to earn $4.20 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 8.6%.

CF Bankshares Stock Down 0.1%

Shares of NASDAQ:CFBK traded down $0.04 during midday trading on Thursday, hitting $33.88. 33,400 shares of the company's stock were exchanged, compared to its average volume of 53,101. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.14 and a quick ratio of 1.13. CF Bankshares has a 12 month low of $22.10 and a 12 month high of $38.11. The company has a market cap of $217.51 million, a PE ratio of 11.64 and a beta of 0.38. The stock has a 50 day moving average price of $35.03 and a 200-day moving average price of $31.42.

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

Hedge Funds Weigh In On CF Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of CFBK. Empowered Funds LLC bought a new position in shares of CF Bankshares in the second quarter valued at approximately $563,000. Corient Private Wealth LP bought a new stake in CF Bankshares during the second quarter worth $387,000. Bank of America Corp DE purchased a new position in CF Bankshares in the second quarter worth $692,000. Man Group plc purchased a new position in CF Bankshares in the second quarter worth $418,000. Finally, Hsbc Holdings PLC purchased a new position in CF Bankshares in the second quarter worth $910,000. Hedge funds and other institutional investors own 41.06% of the company's stock.

CF Bankshares Company Profile

CF Bankshares Inc is the bank holding company for CFBank, a nationally chartered community bank headquartered in Columbus, Ohio. Through CFBank, the company provides banking services to individuals, businesses and commercial real estate clients.

CFBank's products and services include checking and savings accounts, certificates of deposit, commercial and residential real estate lending, construction loans, business loans, consumer loans and mortgage banking. The bank also offers treasury management and other deposit and cash-management services designed to support business customers.

CFBank primarily serves customers in Ohio, with a focus on the Columbus and surrounding central Ohio markets as well as other communities served through its banking offices and lending operations.

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