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Strength Seen in CF Bankshares Inc. (CFBK): Can Its 6.4% Jump Turn into More Strength?

CF Bankshares Inc. (CFBK) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might no...

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This story originally appeared on Zacks

CF Bankshares Inc. (CFBK) shares rallied 6.4% in the last trading session to close at $20.15. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.3% gain over the past four weeks.

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CF Bankshares extended its rally for the fourth consequent day. Optimistic investor sentiments surrounding the solid recovery of the banking sector drove the stock. This can be attributed to strong economic revival, gradual rise in loan demand, sooner-than-expected interest rate hike and favorable economic data.

Price and Consensus

Price Consensus Chart for CFBK

This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of -76.6%. Revenues are expected to be $11.8 million, down 61.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For CF Bankshares Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CFBK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>



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