CF Bankshares Inc. (NASDAQ:CFBK) director James H. Frauenberg II has recently increased his stake in the company, according to a new SEC filing. Frauenberg purchased 525 shares of CF Bankshares common stock at a price of $19.0729 per share, totaling approximately $10,013.
The transaction, which took place on May 22, 2024, was reported in a Form 4 document filed with the Securities and Exchange Commission. Following the purchase, Frauenberg's direct holdings in the company have grown to 111,220 shares. Additionally, he has an indirect ownership through Addison Holdings, which holds 77,427 shares.
CF Bankshares Inc., based in Columbus, Ohio, operates as a national commercial bank and is known for its personal banking, commercial banking, and other financial services. As a director of the company, Frauenberg's investment decisions are often seen as a reflection of his confidence in the bank's future prospects.
Investors typically monitor insider buying and selling activities as they may provide insights into a company’s financial health or future performance. The recent purchase by Frauenberg could be interpreted as a positive signal, indicating a belief in the company's value and potential for growth.
The filing, signed on behalf of Frauenberg by Timothy T. O'Dell (NYSE:DELL), was made public on May 23, 2024. It is worth noting that insider transactions are subject to strict regulatory requirements and are closely watched by market participants for indications of an insider’s perspective on the company’s outlook.
CF Bankshares Inc. and its directors have not publicly commented on the transaction. Shares of CF Bankshares Inc. are traded on the NASDAQ under the ticker symbol CFBK.
InvestingPro Insights
Following the recent insider purchase by director James H. Frauenberg II, CF Bankshares Inc. (NASDAQ:CFBK) shows a mixed financial outlook according to InvestingPro data. The company has a market capitalization of $123.12 million and a Price to Earnings (P/E) ratio of 7.88, which is slightly above the adjusted P/E ratio for the last twelve months as of Q1 2024 at 7.92. These metrics suggest a reasonable valuation relative to the company's earnings.
One of the notable InvestingPro Tips for CF Bankshares is its track record of raising its dividend for four consecutive years, which could be a sign of the company's commitment to returning value to shareholders. This is complemented by a dividend yield of 1.26% as of the latest data. However, the company also suffers from weak gross profit margins, which could be a concern for profitability in the long term. Despite this, analysts predict the company will be profitable this year, which may align with Frauenberg's confidence in the company.
Investors considering CF Bankshares Inc. for their portfolio might find additional value in the comprehensive analysis available on InvestingPro. There are more InvestingPro Tips to explore, which can provide deeper insights into the company's financial health and future prospects. For those interested, remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more in-depth look at the company's performance and potential investment opportunities.
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