CF Bankshares Posts $6.03M Third-Quarter Profit
CFBK sits 55% above its 52-week low of $22.1.
Summary
CF Bankshares reported third-quarter net income of $6.03 million, up from $5.9 million in Q2, a modest sequential gain of roughly 2% that continues the earnings growth the bank showed last quarter. The quarter produced EPS of 91 cents, net interest income of $14.9 million and a net interest margin of 2.96%, and book value per share rose to $29.83 as of Sept 30. The key question remains credit quality: Q2 nonperforming loans jumped to $20.8 million and criticized loans more than doubled, so whether that deterioration stabilized or worsened will drive the read on this print.
At the time of this announcement, CFBK was trading at $34.34 on NASDAQ in the Finance sector, with a market capitalization of approximately $222.9M. The 52-week trading range was $22.10 to $38.11. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.