BlackRock Inc. Acquires Shares of 377,718 CF Bankshares Inc. $CFBK

Key Points

• BlackRock acquired 377,718 shares of CF Bankshares during the second quarter, valued at approximately $12.4 million, giving it a 5.88% stake. Institutional investors collectively own 41.06% of the company.
• Analysts maintain a favorable outlook, with an average rating of “Moderate Buy” and a $40 price target; Piper Sandler raised its target from $36 to $40.
• CF Bankshares exceeded quarterly earnings expectations, reporting $0.90 in EPS versus a $0.89 estimate and $16.55 million in revenue. The company also pays a quarterly dividend of $0.09 per share, for a 1.0% annualized yield.

BlackRock Inc. acquired a new position in shares of CF Bankshares Inc. (NASDAQ:CFBK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 377,718 shares of the savings and loans company's stock, valued at approximately $12,378,000. BlackRock Inc. owned 5.88% of CF Bankshares at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CFBK. Deutsche Bank AG acquired a new position in shares of CF Bankshares in the second quarter valued at about $164,000. Bank of New York Mellon Corp bought a new position in shares of CF Bankshares during the second quarter worth approximately $552,000. Walleye Capital LLC bought a new stake in shares of CF Bankshares in the second quarter valued at approximately $399,000. Rhino Investment Partners Inc acquired a new stake in CF Bankshares during the first quarter worth approximately $3,499,000. Finally, Empowered Funds LLC acquired a new stake in CF Bankshares during the first quarter worth approximately $451,000. Institutional investors and hedge funds own 41.06% of the company's stock.

Wall Street Analysts Forecast Growth

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

CF Bankshares Stock Performance

Shares of CFBK opened at $35.70 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The firm's fifty day simple moving average is $34.12 and its two-hundred day simple moving average is $30.86. CF Bankshares Inc. has a 12 month low of $22.10 and a 12 month high of $36.94. The stock has a market capitalization of $229.05 million, a P/E ratio of 12.27 and a beta of 0.38.

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

CF Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, July 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. CF Bankshares's dividend payout ratio (DPR) is 12.37%.

CF Bankshares Profile

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.

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