John J. Lacarte Sells 633 Shares of CB Financial Services, Inc. (NASDAQ:CBFV) Stock

Key Points

• CB Financial Services Director John J. Lacarte sold 633 shares at an average price of $33.30, reducing his ownership by 1.35% to a total of 46,170 shares worth $1.54 million.
• The company reported $0.74 earnings per share for the latest quarter, exceeding analysts’ expectations by $0.34, with revenue of $13.47 million.
• CB Financial Services declared a quarterly dividend of $0.26, an increase from the previous $0.25, representing a 3.29% yield for investors.

CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) Director John J. Lacarte sold 633 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $33.30, for a total transaction of $21,078.90. Following the completion of the sale, the director directly owned 46,170 shares in the company, valued at approximately $1,537,461. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CB Financial Services Stock Up 1.5%

Shares of CBFV stock traded up $0.48 during mid-day trading on Monday, hitting $31.29. 5,025 shares of the stock traded hands, compared to its average volume of 19,405. CB Financial Services, Inc. has a 52-week low of $23.40 and a 52-week high of $33.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $157.05 million, a P/E ratio of 14.55 and a beta of 0.37. The stock's fifty day moving average is $29.01 and its two-hundred day moving average is $28.87.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.74 EPS for the quarter, topping the consensus estimate of $0.40 by $0.34. The business had revenue of $13.47 million for the quarter, compared to analyst estimates of $12.83 million. CB Financial Services had a return on equity of 7.80% and a net margin of 14.43%. Equities analysts predict that CB Financial Services, Inc. will post 1.82 EPS for the current year.

CB Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, August 15th. This is a boost from CB Financial Services's previous quarterly dividend of $0.25. CB Financial Services's dividend payout ratio (DPR) is 46.51%.

Institutional Investors Weigh In On CB Financial Services

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in 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. Acadian Asset Management LLC increased its stake in CB Financial Services by 30.3% during the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock worth $115,000 after acquiring an additional 966 shares during the last quarter. ORG Partners LLC acquired a new stake in CB Financial Services during the first quarter worth about $211,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CB Financial Services by 11.8% in the first 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. Finally, Fiduciary Trust Co acquired a new stake in CB Financial Services during the 4th quarter valued at approximately $266,000. Hedge funds and other institutional investors own 33.06% of the company's stock.

Wall Street Analysts Forecast Growth

CBFV has been the subject of several recent analyst reports. Wall Street Zen raised shares of CB Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised shares of CB Financial Services from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $31.00 to $39.00 in a research report on Thursday, July 24th. Finally, DA Davidson upped their target price on shares of CB Financial Services from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th.

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.