CB Financial Services (NASDAQ:CBFV) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Shares of CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.64 and traded as high as $29.28. CB Financial Services shares last traded at $29.28, with a volume of 6,032 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of CB Financial Services from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th.

CB Financial Services Stock Down 0.8%

The company's fifty day simple moving average is $28.77 and its 200-day simple moving average is $28.64. 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 firm has a market capitalization of $145.78 million, a PE ratio of 15.13 and a beta of 0.29.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.07. CB Financial Services had a net margin of 12.83% and a return on equity of 7.00%. The business had revenue of $12.10 million for the quarter, compared to analyst estimates of $12.69 million. On average, analysts forecast that CB Financial Services, Inc. will post 1.82 EPS for the current year.

CB Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, May 16th. CB Financial Services's dividend payout ratio is currently 52.08%.

Insider Transactions at CB Financial Services

In other news, Director John Swiatek sold 2,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.50, for a total transaction of $73,750.00. Following the sale, the director directly owned 11,494 shares of the company's stock, valued at $339,073. The trade was a 17.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On CB Financial Services

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in CB Financial Services by 108.0% in 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 last quarter. Acadian Asset Management LLC boosted its holdings 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 valued at $115,000 after purchasing an additional 966 shares during the last quarter. Jane Street Group LLC purchased a new stake in CB Financial Services in the first quarter valued at $537,000. Empowered Funds LLC boosted its holdings in CB Financial Services by 2.5% in 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 last quarter. Finally, M3F Inc. boosted its holdings in CB Financial Services by 204.3% in the first quarter. M3F Inc. now owns 97,549 shares of the bank's stock valued at $2,775,000 after purchasing an additional 65,494 shares during the last quarter. 33.06% of the stock is owned by hedge funds and other institutional investors.

About CB Financial Services

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.