Sundeep Rana, a director at CF Bankshares Inc. (NASDAQ:CFBK), recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Rana sold 497 shares on November 11 at a price of $29 per share, totaling $14,413. Following this transaction, Rana holds 459 shares directly.
Additionally, Rana has indirect ownership of 6,223 shares, which includes 836 vested shares and 5,387 shares underlying restricted stock awards held by Advisors IV. Rana disclaims beneficial ownership of these securities, except for his pecuniary interest. This disclaimer is noted in the footnotes of the SEC filing.
In other recent news, CF Bankshares Inc. has announced a 17% increase in its quarterly cash dividend for common and Series D preferred stock. The new dividend of $0.07 per common share and $7.00 per preferred share is a reflection of the company's intent to enhance total shareholder returns, as expressed by President and CEO Timothy T. O'Dell (NYSE:DELL). CF Bankshares Inc. has seen a steady compound annual growth rate exceeding 20% since its 2012 recapitalization.
In addition, the company has declared a quarterly cash dividend of $0.06 per common share and $6.00 per Series D preferred share for its stockholders. The company has also updated the employment agreements for two of its key executives, Timothy T. O’Dell and Bradley Ringwald, focusing on potential lump sum payments in the event of a change in the bank's control followed by their termination.
Furthermore, CF Bankshares Inc.'s efforts were recognized by Piper Sandler, naming CFBank as one of the "Bank & Thrift Sm-All Stars" for 2023. These are among the recent developments for the company.
InvestingPro Insights
CF Bankshares Inc. (NASDAQ:CFBK) has been experiencing significant market momentum, as evidenced by its strong recent performance. According to InvestingPro data, CFBK has shown impressive returns across various timeframes, with a 24.29% return over the last month and a substantial 73.36% return over the past year. This upward trend aligns with the timing of Director Sundeep Rana's recent stock sale.
Despite the recent insider sale, CFBK's financial metrics paint a picture of a company with solid fundamentals. The stock's P/E ratio stands at 13.9, suggesting it may be reasonably valued compared to its earnings. Additionally, the company's dividend yield of 0.99% and a 16.67% dividend growth rate in the last twelve months as of Q3 2024 indicate a commitment to shareholder returns.
InvestingPro Tips highlight that CFBK has raised its dividend for 5 consecutive years, which may be attractive to income-focused investors. However, it's worth noting that the company suffers from weak gross profit margins, which could be a point of concern for potential investors.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips for CF Bankshares Inc., providing a more comprehensive view of the company's prospects and potential challenges.
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