CB Financial Services, Inc. (NASDAQ:CBFV) Raises Dividend to $0.26 Per Share

CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) announced a quarterly dividend on Tuesday, July 22nd, Wall Street Journal reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.26 per share by the bank on Friday, August 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, August 15th. This is a 4.0% increase from CB Financial Services's previous quarterly dividend of $0.25.

CB Financial Services has a payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of CB Financial Services stock traded down $0.08 on Friday, reaching $32.41. The stock had a trading volume of 31,222 shares, compared to its average volume of 18,183. CB Financial Services has a 1 year low of $23.40 and a 1 year high of $33.72. The company has a market cap of $162.70 million, a P/E ratio of 15.07 and a beta of 0.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $28.71 and its two-hundred day moving average is $28.69.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.34. CB Financial Services had a net margin of 14.43% and a return on equity of 7.80%. The firm had revenue of $13.47 million for the quarter, compared to the consensus estimate of $12.83 million. As a group, research analysts anticipate that CB Financial Services will post 1.82 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on CBFV shares. Wall Street Zen raised CB Financial Services from a "sell" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods raised CB Financial Services from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $31.00 to $39.00 in a report on Thursday. Finally, DA Davidson boosted their price objective on CB Financial Services from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday.

Insider Transactions at CB Financial Services

In other news, Director John Swiatek bought 1,200 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was acquired at an average price of $28.80 per share, with a total value of $34,560.00. Following the completion of the purchase, the director directly owned 7,534 shares in the company, valued at $216,979.20. This represents a 18.95% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 9.40% of the stock is currently owned by corporate insiders.

Institutional Trading of CB Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in CB Financial Services by 1,093.4% in the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after buying an additional 3,488 shares in the last quarter. Acadian Asset Management LLC boosted its stake in CB Financial Services by 30.3% in the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock worth $115,000 after buying an additional 966 shares in the last quarter. Jane Street Group LLC bought a new stake in CB Financial Services in the first quarter valued at approximately $537,000. Goldman Sachs Group Inc. boosted its stake in shares of CB Financial Services by 108.0% during the first 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 period. Finally, Empowered Funds LLC boosted its stake in shares of CB Financial Services by 2.5% during the first quarter. Empowered Funds LLC now owns 34,000 shares of the bank's stock valued at $967,000 after purchasing an additional 828 shares during the period. Hedge funds and other institutional investors own 33.06% of the company's stock.

CB Financial Services Company Profile

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.