CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 24,900 shares, a growth of 25.1% from the May 15th total of 19,900 shares. Based on an average daily trading volume, of 15,600 shares, the short-interest ratio is presently 1.6 days. Approximately 0.5% of the company's shares are short sold.
Insider Activity at CB Financial Services
In other CB Financial Services news, Director John Swiatek sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $29.50, for a total value of $73,750.00. Following the completion of the sale, the director now owns 11,494 shares of the company's stock, valued at approximately $339,073. This represents a 17.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On CB Financial Services
A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted 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 valued at $109,000 after buying an additional 3,488 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of CB Financial Services by 30.3% during the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock valued at $115,000 after purchasing an additional 966 shares during the last quarter. ORG Partners LLC bought a new position in CB Financial Services during the first quarter valued at approximately $211,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 worth $241,000 after purchasing an additional 892 shares during the last quarter. Finally, Fiduciary Trust Co bought a new stake in CB Financial Services in the 4th quarter worth approximately $266,000. 33.06% of the stock is owned by hedge funds and other institutional investors.
CB Financial Services Price Performance
CB Financial Services stock traded up $0.07 during midday trading on Wednesday, reaching $27.85. The company's stock had a trading volume of 4,125 shares, compared to its average volume of 9,674. 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 stock has a market cap of $139.81 million, a PE ratio of 14.51 and a beta of 0.29. CB Financial Services has a 52 week low of $20.75 and a 52 week high of $33.72. The business has a 50-day moving average price of $28.83 and a 200-day moving average price of $29.00.
CB Financial Services (NASDAQ:CBFV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.07. CB Financial Services had a return on equity of 7.00% and a net margin of 12.83%. The business had revenue of $12.10 million during the quarter, compared to analysts' expectations of $12.69 million. On average, sell-side analysts predict that CB Financial Services will post 1.82 EPS for the current year.
CB Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.59%. CB Financial Services's payout ratio is 52.08%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised shares of CB Financial Services from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th.
Get Our Latest Research Report on CB Financial Services
CB Financial Services Company Profile
(
Get Free Report)
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.
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