# C&F Financial Corporation (CFFI)

> Source: Nexqual · https://nexqual.com/CFFI · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, C&F Financial Corporation (CFFI), nexqual.com/CFFI" · informational, not investment advice.

**Price:** USD 107.33 (-0.83% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 108.23 · day 105.82–107.58 · 52w 66.48–108.5 · market cap $349M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $149M, net income $29.1M (19.5% margin) (SEC filings).
- Valuation: P/E 12.0x (avg 10.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 11 Form 4 filings, $721K; 11 not under a Rule 10b5-1 plan ($721K); 4 by opportunistic insiders (4 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +59.6% vs S&P 500 +13.4%; 5Y +142.8% vs S&P 500 +76.9%.
- Next earnings: 2026-10-26, EPS estimate USD 2.46, revenue estimate $40.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $135M | $123M | $127M | $127M | $141M | $149M |
| Net income | $28.7M | $29.2M | $23.6M | $19.8M | $26.8M | $29.1M |
| EPS (diluted) | $7.95 | $8.29 | $6.92 | $6.01 | $8.29 | — |
| Free cash flow | $153M | $87.2M | $37.4M | $33.3M | $22.2M | $38.6M |
| Net margin | 21.2% | 23.8% | 18.5% | 15.6% | 19.1% | 19.5% |
| Revenue growth | -2.1% | -9.3% | +3.8% | +0.0% | +10.6% | — |
| Cash + short-term investments | $268M | $26.7M | $75.2M | $65.6M | $79.1M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.0x · P/S 2.3x · P/FCF 9.1x · P/B 1.3x · FCF yield 11.05% · Earnings yield 8.33% · Dividend yield (paid, TTM) 1.75% · Buyback yield (TTM) 0.43%
P/E at fiscal year-ends: Dec 2025 8.8x, Dec 2024 11.9x, Dec 2023 9.9x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 11 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-04 | Crone S Dustin | PRESIDENT & CEO C&F FINANCE | 900 | $85K | 9.7% | No | Too little history (no open-market trades in 2025) |
| 2026-09-04 | Dillon Larry G | EXECUTIVE CHAIRMAN | 1,000 | $95K | 2.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-20 | Dillon Larry G | EXECUTIVE CHAIRMAN | 1,000 | $86K | 2.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-05 | Peay D Anthony | Director | 425 | $37K | 18.7% | No | Too little history (no open-market trades in 2023) |
| 2026-08-05 | Cherry Thomas F | PRESIDENT & CEO | 500 | $44K | 1.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-03 | Seaman John A Iii | EVP, CHIEF CREDIT OFFICER | 650 | $55K | 12.3% | No | Too little history (no open-market trades in 2025) |
| 2026-06-11…2026-06-12 | Cherry Thomas F | PRESIDENT & CEO | 171 | $13K | 0.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-08…2026-06-10 | Cherry Thomas F | PRESIDENT & CEO | 1,207 | $92K | 3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-05 | Long Jason E | EVP, CHIEF FINANCIAL OFFICER | 1,360 | $103K | 11.9% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-27 | Cherry Thomas F | PRESIDENT & CEO | 500 | $38K | 1.2% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-13 | Kelley Elizabeth R | Director | 1,025 | $75K | 20.3% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | DA Davidson | Initiated | Buy | $115 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +59.6% | +142.8% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +59.8% | +19.4% |
| Volatility (annualized) | 33.3% | 32.4% |
| Max drawdown | -13.0% (Feb 2026→Mar 2026) | -47.3% (Dec 2023→Apr 2024) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 4.07 +3.04% · FITB (Fifth Third Bancorp) USD 52.98 -0.47% · DB (Deutsche Bank AG) USD 31.2 -0.89% · TFC (Truist Financial Corporation) USD 48.44 +0.04% · NWG (NatWest Group plc) USD 16.8 -1.12% · NU (Nu Holdings Ltd.) USD 15.16 +2.92%

## More
Full page: https://nexqual.com/CFFI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CFFI's own 10-K filed 2026-03-03 (https://www.sec.gov/Archives/edgar/data/913341/000091334126000010/cffi-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | C&F Mortgage | "Alternatively, during periods of low or falling interest rates, our customers may find opportunities to refinance shortly after obtaining a mortgage loan from C&F Mortgage, which may result in unexpected prepayments on l…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Community Banking | $28.6M | 69.9% | +15.6% |
| Consumer Finance | $6.7M | 16.4% | +2.4% |
| Mortgage Banking | $5.1M | 12.4% | +9.4% |
| All Other Segments | $542,000 | 1.3% | +15.6% |
| Total revenue | $40.9M | 100% | — |

## Company outlook (8-K filed 2026-07-23)

- "The allowance for credit losses as a percentage of total loans decreased to 1.06 percent at June 30, 2026 from 1.10 percent at December 31, 2025 due primarily to changes in the forecast of key credit loss model assumptions, which includes the forecast of the national unemployment rate derived from the Federal Open Market Committee of the Federal Reserve Board."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.46 | $0.00 | — | $40.5M | 1 |
| Next quarter (ends 2026-12-31) | $2.48 | $0.00 | — | $41.7M | 1 |
| Current fiscal year (ends 2026-12-31) | $9.42 | $0.00 | — | $158.8M | 1 |
| Next fiscal year (ends 2027-12-31) | $9.99 | $0.00 | — | $173.8M | 1 |