CF Bankshares Inc. (NASDAQ:CFBK) Plans Quarterly Dividend of $0.09

CF Bankshares Inc. (NASDAQ:CFBK) declared a quarterly dividend on Thursday, October 1st. Investors of record on Monday, October 12th will be given a dividend of $0.09 per share by the savings and loans company on Tuesday, October 20th. This represents a $0.36 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend 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 annually for the last 4 consecutive years. CF Bankshares has a payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

CFBK stock traded down $0.04 during mid-day trading on Thursday, hitting $33.88. The company had a trading volume of 33,400 shares, compared to its average volume of 53,101. The firm has a market cap of $217.51 million, a PE ratio of 11.64 and a beta of 0.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.14. CF Bankshares has a 12 month low of $22.10 and a 12 month high of $38.11. The stock’s fifty day moving average price is $35.03 and its two-hundred day moving average price is $31.42.

CF Bankshares (NASDAQ:CFBK) last released its earnings results on Tuesday, July 28th. The savings and loans company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. CF Bankshares had a net margin of 15.10% and a return on equity of 10.10%. The firm had revenue of $16.55 million for the quarter, compared to analysts’ expectations of $16.30 million. On average, analysts forecast that CF Bankshares will post 3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CFBK has been the subject of a number of research 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 reiterated a “buy (b)” rating on shares of CF Bankshares in a research report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, CF Bankshares has an average rating of “Moderate Buy” and an average target price of $40.00.

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.