CB Financial Services, Inc. Announces Quarterly Dividend of $0.26 (NASDAQ:CBFV)

Key Points

• CB Financial Services, Inc. declared a quarterly dividend of $0.26 per share, with an annualized yield of 3.2%, to be paid on November 28th to shareholders of record on November 14th.
• The company reported earnings of $0.74 per share for the last quarter, exceeding analysts' estimates of $0.66, and had a revenue of $14.17 million, above the expected $13.96 million.
• Institutional investors currently own approximately 33.06% of CB Financial Services, with recent stake increases from several hedge funds, including Bank of America, which boosted its holdings by over 1,000%.

CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Shareholders of record on Friday, November 14th will be paid a dividend of 0.26 per share by the bank on Friday, November 28th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, November 14th.

CB Financial Services has a payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect CB Financial Services to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 44.8%.

CB Financial Services Trading Down 0.2%

Shares of CBFV opened at $32.64 on Friday. The firm's 50-day moving average price is $32.89 and its 200-day moving average price is $30.44. The firm has a market capitalization of $162.87 million, a price-to-earnings ratio of 15.18 and a beta of 0.37. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. CB Financial Services has a 1-year low of $26.01 and a 1-year high of $34.00.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.08. CB Financial Services had a net margin of 14.43% and a return on equity of 7.79%. The company had revenue of $14.17 million during the quarter, compared to the consensus estimate of $13.96 million. Sell-side analysts anticipate that CB Financial Services will post 1.82 EPS for the current year.

Insider Buying and Selling at CB Financial Services

In related news, COO Jennifer L. George sold 5,042 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $33.15, for a total transaction of $167,142.30. Following the completion of the transaction, the chief operating officer owned 12,285 shares in the company, valued at approximately $407,247.75. This represents a 29.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CB Financial Services

Several hedge funds have recently added to or reduced their stakes in CBFV. Bank of America Corp DE increased its position in shares of CB Financial Services by 1,093.4% during the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after acquiring an additional 3,488 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in CB Financial Services by 11.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank's stock valued at $241,000 after buying an additional 892 shares in the last quarter. M3F Inc. grew its position in CB Financial Services by 204.3% during the 1st quarter. M3F Inc. now owns 97,549 shares of the bank's stock worth $2,775,000 after purchasing an additional 65,494 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in CB Financial Services by 108.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank's stock valued at $641,000 after purchasing an additional 11,704 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of CB Financial Services by 2.5% in the 1st quarter. Empowered Funds LLC now owns 34,000 shares of the bank's stock valued at $967,000 after acquiring an additional 828 shares during the last quarter. 33.06% of the stock is currently owned by institutional investors.

About CB Financial Services

CB Financial Services, Inc operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts, as well as time deposit products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.