CF Bankshares Inc. (NASDAQ: CFBK – Get a rating) benefited from a sharp rise in short-term interest rates in September. As of September 15, there was short interest totaling 6,600 shares, a 312.5% increase from the August 31 total of 1,600 shares. Based on an average trading volume of 3,200 shares, the short-term interest rate ratio is currently 2.1 days. Currently, 0.2% of the company’s shares are sold short.
Hedge funds weigh on CF Bank shares
Institutional investors have recently increased or reduced their stake in the company. Salzhauer Michael increased his stake in CF Bankshares by 18.1% during the second quarter. Salzhauer Michael now owns 17,000 shares of the savings and loan company valued at $357,000 after buying an additional 2,600 shares last quarter. McDonald Partners LLC increased its stake in CF Bankshares by 1.4% during the second quarter. McDonald Partners LLC now owns 74,151 shares of the savings and loan company valued at $1,557,000 after buying an additional 1,000 shares last quarter. First Manhattan Co. increased its stake in CF Bankshares by 92.4% during the first quarter. First Manhattan Co. now owns 173,519 shares of the savings and loan company valued at $3,869,000 after purchasing an additional 83,333 shares last quarter. Ancora Advisors LLC increased its stake in CF Bankshares by 15.1% during the 1st quarter. Ancora Advisors LLC now owns 252,105 shares in the savings and loan company valued at $5,032,000 after buying 33,015 additional shares last quarter. Finally, Elizabeth Park Capital Advisors Ltd. bought a new position in CF Bankshares during Q2 valued at approximately $5,548,000. Hedge funds and other institutional investors own 31.96% of the company’s shares.
CF Bank Share Price Performance
CFBK stock traded down $0.15 during Tuesday’s trading, hitting $20.70. The company’s stock had a trading volume of 15,624 shares, compared to an average trading volume of 3,809 shares. The company’s fifty-day moving average is $20.93 and its 200-day moving average is $21.09. CF Bankshares has a 1-year low of $19.11 and a 1-year high of $23.99. The company has a market capitalization of $109.57 million, a P/E ratio of 7.61 and a beta of 0.62. The company has a quick ratio of 1.12, a current ratio of 1.12 and a leverage ratio of 0.68.
CF Bankshares (NASDAQ:CFBK – Get a rating) last reported results on Wednesday, August 3. The savings and loan company reported earnings per share (EPS) of $0.72 for the quarter, beating the consensus estimate of $0.68 by $0.04. CF Bankshares had a return on equity of 13.96% and a net margin of 30.15%. The company posted revenue of $12.35 million in the quarter, compared to $12.00 million expected by analysts. On average, research analysts expect CF Bankshares to post earnings per share of 2.89 for the current financial year.
CF Bankshares increases its dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 26. Investors of record on Friday, July 15 received a dividend of $0.05 per share. The ex-dividend date was Thursday, July 14. This represents an annualized dividend of $0.20 and a dividend yield of 0.97%. This is a boost from CF Bankshares’ previous quarterly dividend of $0.04. The Dividend Payout Ratio (DPR) of CF Bankshares is currently 7.41%.
About CF Bankshares
CF Bankshares Inc operates as a bank holding company for CFBank, the national association that provides various banking products and services in the United States. The company accepts savings, retail and business checking accounts, money market accounts, and certificates of deposit. It also offers single-family mortgages; commercial real estate loans and multi-family residential mortgages; business loans; construction and land loans; and consumer loans, such as home equity lines of credit, home improvement loans, and loans secured by deposits and purchased loans, as well as other loans.
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