Algert Global LLC Sells 30,935 Shares of CF Bankshares Inc. $CFBK

Key Points

• Algert Global LLC reduced its CF Bankshares position by 76.9% in the second quarter, selling 30,935 shares and retaining 9,310 shares valued at approximately $305,000.
• Analysts remain generally positive on CFBK, with a consensus “Moderate Buy” rating and an average price target of $40, compared with the reported opening price of $34.56.
• CF Bankshares slightly exceeded quarterly expectations, reporting $0.90 in earnings per share and $16.55 million in revenue. The company also paid a quarterly dividend of $0.09 per share, equivalent to a 1.0% annualized yield.

Algert Global LLC cut its holdings in CF Bankshares Inc. (NASDAQ:CFBK - Free Report) by 76.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the savings and loans company's stock after selling 30,935 shares during the quarter. Algert Global LLC owned approximately 0.15% of CF Bankshares worth $305,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of CF Bankshares in the 2nd quarter valued at $12,378,000. Rhino Investment Partners Inc purchased a new stake in shares of CF Bankshares during the 1st quarter worth $3,499,000. Geode Capital Management LLC lifted its stake in shares of CF Bankshares by 108.4% during the 2nd 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 last quarter. De Lisle Partners LLP bought a new stake in CF Bankshares during the second quarter valued at about $1,350,000. Finally, Fourthstone LLC boosted its position in CF Bankshares by 6.4% during the fourth quarter. Fourthstone LLC now owns 634,535 shares of the savings and loans company's stock valued at $15,832,000 after purchasing an additional 38,259 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company's stock.

Wall Street Analyst Weigh In

CFBK has been the subject of several recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of CF Bankshares in a research note on Friday, June 12th. Piper Sandler reiterated an "overweight" rating and set a $40.00 price objective (up from $36.00) on shares of CF Bankshares in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

CF Bankshares Trading Down 0.5%

Shares of NASDAQ:CFBK opened at $34.56 on Tuesday. CF Bankshares Inc. has a 52-week low of $22.10 and a 52-week high of $36.94. The stock has a market cap of $221.88 million, a price-to-earnings ratio of 11.88 and a beta of 0.39. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $33.80 and a 200-day moving average price of $30.76.

CF Bankshares (NASDAQ:CFBK - Get Free Report) last issued its earnings results on Tuesday, July 28th. The savings and loans company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. CF Bankshares had a return on equity of 10.10% and a net margin of 15.10%.The firm had revenue of $16.55 million for the quarter, compared to analyst estimates of $16.30 million. Equities analysts predict that CF Bankshares Inc. will post 3.56 EPS for the current year.

CF Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th were given a dividend of $0.09 per share. The ex-dividend date was Monday, July 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. CF Bankshares's dividend payout ratio is currently 12.37%.

About CF Bankshares

CF Bankshares, Inc is a bank holding company headquartered in Wichita, Kansas. Through its primary subsidiary, Community First Bank, Wichita, N.A., the company provides a broad range of financial services to individuals, businesses and agricultural clients. CF Bankshares emphasizes community-oriented banking, combining local market knowledge with a personalized approach to customer relationships.

The company's offerings include traditional deposit accounts such as checking, savings and money market products, along with a variety of commercial and consumer lending solutions.

Want to see what other hedge funds are holding CFBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CF Bankshares Inc. (NASDAQ:CFBK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source