CB Financial Services (NASDAQ:CBFV) Stock Crosses Above Fifty Day Moving Average - Here's What Happened

CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report)'s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $28.60 and traded as high as $31.43. CB Financial Services shares last traded at $31.27, with a volume of 52,653 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen upgraded CB Financial Services from a "sell" rating to a "hold" rating in a report on Saturday. DA Davidson upped their price target on shares of CB Financial Services from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods raised shares of CB Financial Services from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $31.00 to $39.00 in a research report on Thursday.

CB Financial Services Stock Performance

The company has a market cap of $165.66 million, a P/E ratio of 15.34 and a beta of 0.29. 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 fifty day moving average price of $28.71 and a two-hundred day moving average price of $28.70.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.34. The firm had revenue of $13.47 million for the quarter, compared to analysts' expectations of $12.83 million. CB Financial Services had a return on equity of 7.80% and a net margin of 14.43%. On average, equities analysts forecast that CB Financial Services, Inc. will post 1.82 earnings per share for the current fiscal year.

CB Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, August 15th. This is a positive change from CB Financial Services's previous quarterly dividend of $0.25. CB Financial Services's dividend payout ratio (DPR) is presently 48.37%.

Insiders Place Their Bets

In other CB Financial Services news, Director John Swiatek sold 2,500 shares of the firm's stock in a transaction 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 sale, the director directly owned 11,494 shares in the company, valued at $339,073. This trade represents a 17.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CB Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in CBFV. Millennium Management LLC acquired a new stake in CB Financial Services in the fourth quarter worth about $301,000. Ameriprise Financial Inc. bought a new position in CB Financial Services in the fourth quarter valued at approximately $323,000. Dimensional Fund Advisors LP increased its holdings in CB Financial Services by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,822 shares of the bank's stock worth $509,000 after purchasing an additional 967 shares in the last quarter. ORG Partners LLC bought a new position in shares of CB Financial Services during the first quarter worth about $211,000. Finally, M3F Inc. bought a new position in shares of CB Financial Services during the 4th quarter worth approximately $916,000. 33.06% of the stock is owned by 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.