Bank of America Corp DE Acquires 889,564 Shares of Capitol Federal Financial $CFFN

Key Points

• Bank of America acquired 889,564 shares of Capitol Federal Financial in the second quarter, valued at approximately $7.57 million and representing about 0.71% of the company. Institutional investors collectively own 88.51% of CFFN.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $9.25, versus a recent price of $8.68.
• Capitol Federal Financial exceeded quarterly earnings expectations, reporting $0.19 EPS and $60.15 million in revenue, while paying a quarterly dividend of $0.085 per share, equivalent to a 3.9% annualized yield.

Bank of America Corp DE bought a new stake in shares of Capitol Federal Financial (NASDAQ:CFFN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 889,564 shares of the savings and loans company's stock, valued at approximately $7,570,000. Bank of America Corp DE owned approximately 0.71% of Capitol Federal Financial as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Capitol Federal Financial in the second quarter worth approximately $152,515,000. Bank of New York Mellon Corp bought a new stake in Capitol Federal Financial during the 2nd quarter valued at $9,966,000. Ieq Capital LLC purchased a new position in shares of Capitol Federal Financial in the 2nd quarter valued at $4,226,000. Towle & Co. purchased a new position in shares of Capitol Federal Financial in the 1st quarter valued at $3,396,000. Finally, Empowered Funds LLC bought a new position in shares of Capitol Federal Financial in the 1st quarter worth $2,532,000. 88.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. New Street Research set a $10.00 price objective on Capitol Federal Financial in a research report on Thursday, July 9th. Piper Sandler boosted their target price on shares of Capitol Federal Financial from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Capitol Federal Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 14th. Finally, Benchmark assumed coverage on shares of Capitol Federal Financial in a research report on Wednesday, July 8th. They issued a "buy" rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.25.

Capitol Federal Financial Stock Performance

NASDAQ CFFN opened at $8.68 on Monday. Capitol Federal Financial has a 12-month low of $5.97 and a 12-month high of $9.26. The company has a fifty day simple moving average of $8.75 and a two-hundred day simple moving average of $8.12. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.60. The stock has a market cap of $1.09 billion, a P/E ratio of 13.35 and a beta of 0.68.

Capitol Federal Financial (NASDAQ:CFFN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The savings and loans company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. Capitol Federal Financial had a return on equity of 8.01% and a net margin of 18.69%.The company had revenue of $60.15 million during the quarter, compared to analyst estimates of $58.65 million.

Capitol Federal Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a dividend of $0.0850 per share. This represents a $0.34 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, August 7th. Capitol Federal Financial's payout ratio is presently 52.31%.

About Capitol Federal Financial

Capitol Federal Financial, Inc is the holding company for Capitol Federal Savings Bank, a federally chartered savings bank headquartered in Topeka, Kansas. The company provides banking and financial services primarily to individuals, families and businesses through its branch network and digital banking channels.

Capitol Federal Savings Bank's principal activities include accepting deposits and originating loans. Its lending products include residential mortgage and home equity loans, commercial real estate and commercial business loans, and consumer loans.

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