Timothy T. O'Dell (NYSE:DELL), CEO of CF Bankshares Inc. (NASDAQ:CFBK), has recently sold shares of the company's common stock, according to a recent filing. The sale comes as the stock has shown remarkable strength, posting a 36.72% gain year-to-date and trading at a P/E ratio of 12.92. According to InvestingPro analysis, the stock appears slightly overvalued at current levels. The transactions, which took place on December 13 and December 16, involved the sale of a total of 22,800 shares. The shares were sold at prices ranging from $26.5416 to $27.2796 per share, amounting to a total value of $606,829.
Following these transactions, O'Dell retains direct ownership of 292,621 shares of CF Bankshares. Additionally, indirect holdings include 4,579 shares under the custodianship of Colleen O'Dell for Sarah F. O'Dell, and 5,454 shares owned by Colleen O'Dell, his spouse.
In other recent news, CF Bankshares Inc. has announced a 17% increase in its quarterly cash dividend for both common and Series D preferred stock. The new dividend, set at $0.07 per common share and $7.00 per preferred share, will be paid to shareholders recorded by October 11, 2024. The bank's President and CEO, Timothy T. O'Dell, stated the increase aims to enhance total shareholder returns, reflecting the company's compound annual growth rate of over 20% since its 2012 recapitalization.
In other developments, CF Bankshares Inc. updated the employment agreements for two key executives, Timothy T. O'Dell and Bradley Ringwald, focusing on their compensation packages. The changes specifically address lump sum payments to be received in the event of a change in the bank's control followed by their termination.
Furthermore, CF Bankshares Inc. received recognition from Piper Sandler, which named CFBank as one of the "Bank & Thrift Sm-All Stars" for 2023. This places the bank among the top 10% of small-cap banks and thrifts in the United States. These are some of the recent developments at the company.
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