Central Federal said on April 6, 2023 that its board of directors declared a regular quarterly dividend of $0.06 per share ($0.24 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of April 14, 2023 to qualify for the dividend. Shareholders of record as of April 17, 2023 will receive the payment on April 28, 2023.
At the current share price of $19.50 / share, the stock's dividend yield is 1.23%. Looking back five years and taking a sample every week, the average dividend yield has been 1.39%, the lowest has been 0.59%, and the highest has been 2.48%. The standard deviation of yields is 0.61 (n=230).
The current dividend yield is 0.26 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.07. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 53 funds or institutions reporting positions in Central Federal. This is an increase of 1 owner(s) or 1.92% in the last quarter. Average portfolio weight of all funds dedicated to CFBK is 0.07%, a decrease of 31.60%. Total shares owned by institutions decreased in the last three months by 0.19% to 1,675K shares.
Analyst Price Forecast Suggests 9.85% Upside
As of April 6, 2023, the average one-year price target for Central Federal is $21.42. The forecasts range from a low of $21.21 to a high of $22.05. The average price target represents an increase of 9.85% from its latest reported closing price of $19.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Central Federal is $65MM, an increase of 27.67%. The projected annual non-GAAP EPS is $3.20.
What are Other Shareholders Doing?
DFAC - Dimensional U.S. Core Equity 2 ETF holds 1K shares representing 0.01% ownership of the company. No change in the last quarter.
Almanack Investment Partners, LLC. holds 17K shares representing 0.26% ownership of the company. In it's prior filing, the firm reported owning 17K shares, representing an increase of 0.22%. The firm increased its portfolio allocation in CFBK by 12.82% over the last quarter.
VITNX - Vanguard Institutional Total Stock Market Index Fund Institutional Shares holds 5K shares representing 0.07% ownership of the company. No change in the last quarter.
DFA INVESTMENT DIMENSIONS GROUP INC - U.S. Social Core Equity 2 Portfolio Shares holds 1K shares representing 0.01% ownership of the company. No change in the last quarter.
Alliancebernstein holds 514K shares representing 7.85% ownership of the company. In it's prior filing, the firm reported owning 522K shares, representing a decrease of 1.48%. The firm decreased its portfolio allocation in CFBK by 5.92% over the last quarter.
CF Bankshares Background Information
(This description is provided by the company.)
CF Bankshares Inc. is a financial holding company that owns 100% of the stock of CFBank, National Association (CFBank). CFBank is a boutique Commercial bank headquartered in Columbus, Ohio. CFBank has focused on bettering the Ohio economy and serving the financial needs of closely held businesses since 1892. Over a century has passed, and yet, CFBank's focus remains the same: guide fellow Ohioans to financial stability and success with agility, ease, and care. CFBank grew from a Federal Savings Association to a National Bank in December of 2016. As CFBank has expanded, CFBank has maintained pts penchant for individualized service and direct customer access to decision makers. CFBank now has locations in four major metro Ohio markets - Columbus, Cleveland, Cincinnati, and Akron, as well as branch locations in Columbiana Country (two locations). In every location, CFBank provides commercial loans and leases, commercial and residential real estate loans and treasury management depository services, corporate treasury management, residential lending, and full-service retail banking services and products. In addition, CFBank also has a national residential lending platform. CFBank is also glad to offer its clients the convenience of online internet banking, mobile banking, and remote deposit.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
