CB Financial Services (NASDAQ:CBFV) Issues Earnings Results

Key Points

• CB Financial Services beat quarterly expectations: The bank reported EPS of $0.81, exceeding the $0.72 consensus estimate, while revenue reached $15.52 million versus the $15.40 million forecast.
• Shares rose 1.2% to $36.33 following the earnings release. The stock has traded between $30.00 and $38.86 over the past year.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $41.00; institutional investors own 33.06% of the company.

CB Financial Services (NASDAQ:CBFV - Get Free Report) announced its quarterly earnings results on Monday. The bank reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09, FiscalAI reports. CB Financial Services had a return on equity of 10.07% and a net margin of 8.32%.The company had revenue of $15.52 million during the quarter, compared to the consensus estimate of $15.40 million.

CB Financial Services Stock Up 1.2%

NASDAQ CBFV traded up $0.43 on Monday, reaching $36.33. The company had a trading volume of 4,021 shares, compared to its average volume of 5,356. The firm has a market capitalization of $184.30 million, a price-to-earnings ratio of 28.16 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 0.87. CB Financial Services has a 1-year low of $30.00 and a 1-year high of $38.86. The company's fifty day moving average is $36.23 and its 200-day moving average is $35.54.

Analyst Ratings Changes

Several research firms have recently weighed in on CBFV. Weiss Ratings reiterated a "hold (c)" rating on shares of CB Financial Services in a report on Wednesday, June 24th. Zacks Research raised CB Financial Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Institutional Trading of CB Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. 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 worth $109,000 after buying an additional 3,488 shares during the period. Goldman Sachs Group Inc. grew its holdings 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 worth $641,000 after buying an additional 11,704 shares in the last quarter. Empowered Funds LLC raised its position in 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 buying an additional 828 shares during the last quarter. Jane Street Group LLC acquired a new stake in CB Financial Services in the 1st quarter valued at approximately $537,000. Finally, Acadian Asset Management LLC lifted its stake in CB Financial Services by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock valued at $115,000 after acquiring an additional 966 shares in the last quarter. Institutional investors and hedge funds own 33.06% of the company's stock.

About CB Financial Services

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company's deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.

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