May 26, 2020

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Investor Alert: Central Federal Corporation (NASDAQ: CFBK)

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The USA based company Central Federal Corporation (NASDAQ: CFBK) moved with change of 2.02% to $13.16 with the total traded volume of 422 shares in recent session versus to an average volume of 4.59K. The stock was down in the 5 days activity -0.40%. The one month performance of stock was 6.13%. CFBK shares are at -3.08% for the quarter and driving a -11.81% return over the course of the past year and is now at 10.35% since this point in 2018.

Right now CFBK NASD beta is 0.65. The average volatility for the week and month was at 1.20% 1.15% respectively. There are 4.21M shares outstanding and 3.58M shares are floated in market.

Central Federal Corporation (NASDAQ: CFBK) (the “Company”) today announced financial results for the fourth quarter and year ended December 31, 2018.

Fourth Quarter and Full Year 2018 Highlights

Net income before taxes increased 64% for the quarter, compared to the same quarter in 2017 and increased 54% for the full year compared to 2017.

EPS (fully diluted) increased by $0.09 per share, or 38%, for the quarter to $0.33 compared to the previous quarter. EPS (fully diluted) for the full year was $1.00.

Book value at December 31, 2018 of $10.51 per share was up $1.03, or 11%, from December 31, 2017.

Net loans grew by $144 million during 2018. Net interest income grew by 34% for the quarter compared to the fourth quarter in 2017 and increased 31% year over year.

Noninterest income for the year of $2.7 million increased by 266% compared to 2017 due primarily to the investment in and expansion of our residential mortgage lending business.

Credit quality remains strong. The bank experienced net recoveries of $42,000 for 2018, which was the fifth consecutive year of net recoveries.

Timothy T. O’Dell, President and CEO, commented, “We are pleased with our consistently improving performance and increasing earnings.  During 2018, net loans grew by $144 million which contributed to increasing net income before taxes by 54% year over year.  Fourth quarter results also began to reflect returns from investing earlier in building our residential mortgage lending business.  Increased volumes of saleable mortgage loans gave a lift to Noninterest income which more than doubled during the year.  We believe that we are well positioned to continue this strong earnings growth performance into 2019, benefitting from increasing scale as well as growth in our fee income businesses, including home mortgage and SBA lending volumes. In addition, we are gaining business opportunities from our growing presence in the Cincinnati market. Cincinnati is our 4th and newest major metro market, which includes Columbus, Cleveland, and Akron/Canton metro markets, along with our two community banks operating in the Columbiana County market. We are proud of the excellent performance gains during 2018, and very bullish about our business prospects and opportunities for 2019.”

 

Robert E. Hoeweler, Chairman of the Board, added, “The Company found itself well-positioned during 2018 to take advantage of opportunities in the markets in which we operate.  Our profitable growth is a direct result of the talent, determination and success driven nature of our management team.  We have built a proven team as demonstrated by the fourth quarter and year-to-date results for 2018.  My hat is off to the entire team.”

Shares of Central Federal Corporation have been recently spotted trading -22.36% off of the 52-week high price. On the other end, the stock has been noted 23.92% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 10.62 – 16.95. Switching over to some distances from popular moving averages, we see that the stock has been recorded 4.09% away from the 50 day moving average and -2.49% away from the 200 day moving average. Moving closer, we can see that shares have been trading 4.30% off of the 20-day moving average. 52 employees work in the Company. It has market cap of $54.31M.

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