In a recent move, Jason E. Long, the EVP and Chief Financial Officer of C & F Financial Corp (NASDAQ:CFFI), expanded his holdings in the company through the acquisition of additional shares. The transaction, dated April 24, 2024, involved the purchase of 500 shares at a price of $38.47 each, amounting to a total investment of $19,235.
This financial maneuver by Long strengthens his position in the company, now owning a total of 10,200 shares of C & F Financial Corp's common stock. The purchase was made public through a Form 4 filing with the Securities and Exchange Commission, which details transactions by company insiders.
Investors often monitor such insider transactions as they can provide insights into the executives' confidence in the company's performance and future prospects. The acquisition of stock by a key officer like the CFO could be interpreted as a positive signal about the company's financial health.
C & F Financial Corp, based in Virginia, operates within the state commercial banks sector, providing a range of banking services. The company's stock is traded under the ticker symbol CFFI on the NASDAQ exchange.
The reported transaction was executed at a single price point, ensuring a straightforward addition to Long's portfolio. The disclosure of this insider purchase comes as a notable event for shareholders and potential investors, reflecting the ongoing financial decisions at the executive level of C & F Financial Corp.
InvestingPro Insights
Recent insider trading within C & F Financial Corp (NASDAQ:CFFI) has caught the attention of market watchers, particularly as the company's EVP and Chief Financial Officer, Jason E. Long, has increased his stake. This aligns with an InvestingPro Tip that management has been aggressively buying back shares, demonstrating confidence from the top executives in the company's value.
InvestingPro Data also shows that CFFI is trading at an attractive earnings multiple with a P/E Ratio (last twelve months as of Q1 2024) of just 6.07. Additionally, the company has a track record of rewarding shareholders, having raised its dividend for 13 consecutive years, and maintaining dividend payments for 27 consecutive years, which is reflected in a healthy dividend yield of 4.76% as of March 2024.
However, the company's stock has experienced a downturn in recent times, with a 1 Month Price Total Return as of April 24, 2024, showing a decline of -23.79%. This could be attributed to the broader market trends or specific challenges faced by the banking sector. On the positive side, the InvestingPro Fair Value estimate for CFFI is at $42.19, suggesting potential upside from the previous close price of $37.
For investors interested in deeper analysis and additional InvestingPro Tips, such as the current RSI suggesting the stock is in oversold territory and considerations of the company's gross profit margins, more insights are available. There are 9 additional tips listed on InvestingPro for CFFI, which could guide investment decisions. To access these tips and take advantage of the full suite of tools on InvestingPro, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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