CB Financial Services (NASDAQ:CBFV) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• EPS beat but revenue missed: CB Financial Services reported quarterly EPS of $0.72, beating estimates by $0.01, while revenue came in at $14.82M versus the $15.50M consensus.
• Dividend increased to $0.28 quarterly (annualized $1.12) for a 3.2% yield, but the payout ratio is elevated at 123.08%, raising sustainability concerns.
• Mixed market sentiment: Analyst coverage is split (two Buys, one Hold, one Sell) with a consensus "Hold" target of $41, insiders have recently sold shares, and the stock trades around $35 with a $177M market cap.

CB Financial Services (NASDAQ:CBFV - Get Free Report) posted its earnings results on Thursday. The bank reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.01, FiscalAI reports. CB Financial Services had a return on equity of 9.49% and a net margin of 6.09%.The company had revenue of $14.82 million for the quarter, compared to the consensus estimate of $15.50 million.

CB Financial Services Trading Up 0.9%

Shares of NASDAQ CBFV opened at $35.00 on Thursday. The business's 50 day moving average is $34.84 and its two-hundred day moving average is $34.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.87 and a quick ratio of 0.87. CB Financial Services has a 1-year low of $27.11 and a 1-year high of $37.75. The stock has a market capitalization of $177.45 million, a P/E ratio of 38.46 and a beta of 0.27.

CB Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 13th. This is an increase from CB Financial Services's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 3.2%. CB Financial Services's payout ratio is presently 123.08%.

Wall Street Analyst Weigh In

CBFV has been the topic of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on CB Financial Services from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, January 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of CB Financial Services in a research report on Friday, March 27th. Zacks Research lowered shares of CB Financial Services from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Finally, DA Davidson assumed coverage on shares of CB Financial Services in a research report on Wednesday, February 25th. They issued a "buy" rating and a $43.00 price target on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CB Financial Services currently has a consensus rating of "Hold" and a consensus target price of $41.00.

Insider Activity at CB Financial Services

In other news, insider Stephen Cobain sold 1,792 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $34.58, for a total value of $61,967.36. Following the completion of the sale, the insider directly owned 4,313 shares of the company's stock, valued at $149,143.54. This trade represents a 29.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Charles R. Guthrie sold 1,913 shares of CB Financial Services stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $37.35, for a total value of $71,450.55. Following the completion of the transaction, the insider owned 16,796 shares of the company's stock, valued at approximately $627,330.60. This trade represents a 10.23% decrease in their position. The SEC filing for this sale provides additional information. 9.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position 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 valued at $109,000 after acquiring an additional 3,488 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of CB Financial Services by 108.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank's stock worth $641,000 after purchasing an additional 11,704 shares during the period. Empowered Funds LLC boosted its stake in shares of CB Financial Services by 2.5% during the 1st quarter. Empowered Funds LLC now owns 34,000 shares of the bank's stock worth $967,000 after purchasing an additional 828 shares during the period. Jane Street Group LLC purchased a new position in shares of CB Financial Services during the 1st quarter worth about $537,000. Finally, Acadian Asset Management LLC raised its position 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 worth $115,000 after purchasing an additional 966 shares during the period. 33.06% of the stock is owned by hedge funds and other institutional investors.

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.