Central Federal Corp (CFBK) has reached a new 52-week high, with its stock price soaring to $27.4. This milestone reflects a significant uptrend for the company, marking a substantial increase of 78.57% from its position one year ago. Investors have shown increased confidence in Central Federal's performance and prospects, contributing to the stock's impressive climb and its current standing at the peak of its 52-week range. The 1-year change data underscores the robust growth trajectory that Central Federal has sustained over the past year, rewarding shareholders with substantial gains.
In other recent news, CF Bankshares Inc. announced a 17% increase in its quarterly cash dividend for common and Series D preferred stock. The new dividend, set at $0.07 per common share and $7.00 per preferred share, is planned for payment to shareholders on record by October 11, 2024.
CF Bankshares' President and CEO, Timothy T. O'Dell (NYSE:DELL), emphasized the company's intent to enhance shareholder returns through this increased dividend. The company has experienced a compound annual growth rate surpassing 20% since its 2012 recapitalization.
In addition to the dividend increase, CF Bankshares Inc. has revised the employment agreements for two of its key executives, Timothy T. O’Dell and Bradley Ringwald. The changes focus on the executives' compensation packages, specifically the lump sum payments they would receive in the event of a change in the bank's control followed by their termination.
Furthermore, CF Bankshares Inc. was recognized by Piper Sandler as one of the "Bank & Thrift Sm-All Stars" for 2023, placing it among the top 10% of small-cap banks and thrifts in the United States. These are the latest developments for the company.
InvestingPro Insights
Central Federal Corp's (CFBK) recent achievement of a new 52-week high is further supported by data from InvestingPro. The stock's impressive performance is reflected in its strong returns, with a 67.94% total return over the past year and a remarkable 40.94% return in just the last six months. These figures align with the article's mention of the 78.57% increase from a year ago.
InvestingPro Tips highlight that CFBK has raised its dividend for 5 consecutive years, which may be contributing to investor confidence. Additionally, the company is trading near its 52-week high, corroborating the article's main point. The stock's P/E ratio of 12.91 suggests that despite the recent price surge, it may still be reasonably valued compared to earnings.
It's worth noting that InvestingPro offers 11 additional tips for CFBK, providing investors with a more comprehensive analysis of the company's financial health and market position. For those seeking deeper insights, exploring these additional tips on InvestingPro could be valuable in understanding the full picture behind CFBK's recent stock performance.
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