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COLUMBUS, Ohio - CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, currently trading at $23.78 with a market capitalization of $152 million, has announced a new stock repurchase initiative authorizing the buyback of up to 325,000 shares, representing about 5% of its outstanding common stock. The program is set to take place until January 31, 2026, with the company purchasing shares through open market or privately negotiated transactions, following applicable securities laws and regulations. According to InvestingPro data, the stock is currently trading below its book value with a P/B ratio of 0.93, suggesting potential value opportunity. The company has also demonstrated commitment to shareholder returns, having raised its dividend for 5 consecutive years.
The repurchase program’s specifics, including timing, volume, and manner of buybacks, will be subject to management’s discretion, taking into account market conditions, stock price, and other relevant factors. The program may be adjusted or halted at any time.
Timothy T. O’Dell (NYSE:DELL), President and CEO of CF Bankshares, expressed the board’s belief in the company’s value and stated that the repurchase program underscores their confidence in the business model and commitment to enhancing shareholder value. InvestingPro analysis supports this outlook, showing a "Fair" overall financial health score of 2.33 out of 5, with particularly strong momentum and profitability metrics. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
CFBank operates as a nationally chartered boutique Commercial bank in major metro markets within Ohio and Indiana, focusing on the financial needs of closely held businesses and entrepreneurs. The bank offers a range of services including commercial loans, equipment leases, real estate loans, and full-service commercial and retail banking. The company has maintained profitability over the last twelve months, with a return on equity of 8% and a dividend yield of 1.18%.
This new stock repurchase plan is based on a press release statement from CF Bankshares Inc. and is not an endorsement of the company’s future performance. Forward-looking statements in the press release are subject to various risks and uncertainties, and actual results may differ from those projected. The company’s next earnings report is scheduled for February 11, 2025.
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