CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $32.93 and traded as high as $33.61. CB Financial Services shares last traded at $33.61, with a volume of 4,699 shares trading hands.
Wall Street Analyst Weigh In
CBFV has been the subject of several research analyst reports. Wall Street Zen raised CB Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised CB Financial Services from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $31.00 to $39.00 in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of CB Financial Services in a research note on Friday. Finally, DA Davidson raised their price objective on CB Financial Services from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $35.50.
Check Out Our Latest Stock Analysis on CB Financial Services
CB Financial Services Stock Up 3.0%
The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50-day simple moving average of $32.93 and a two-hundred day simple moving average of $30.49. The company has a market cap of $167.58 million, a PE ratio of 70.02 and a beta of 0.37.
CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.08. The company had revenue of $14.17 million during the quarter, compared to the consensus estimate of $13.96 million. CB Financial Services had a return on equity of 8.49% and a net margin of 3.37%. Research analysts anticipate that CB Financial Services, Inc. will post 1.82 earnings per share for the current fiscal year.
CB Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.1%. CB Financial Services's payout ratio is currently 216.67%.
CB Financial Services announced that its Board of Directors has approved a share buyback plan on Thursday, September 4th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the bank to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Insider Activity at CB Financial Services
In other news, COO Jennifer L. George sold 5,042 shares of CB Financial Services stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.15, for a total value of $167,142.30. Following the completion of the sale, the chief operating officer owned 12,285 shares of the company's stock, valued at $407,247.75. The trade was a 29.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in CB Financial Services by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 340,462 shares of the bank's stock valued at $9,703,000 after acquiring an additional 3,816 shares during the last quarter. M3F Inc. boosted its holdings in CB Financial Services by 79.8% in the second quarter. M3F Inc. now owns 175,358 shares of the bank's stock valued at $4,998,000 after acquiring an additional 77,809 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in CB Financial Services by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 166,918 shares of the bank's stock valued at $4,757,000 after acquiring an additional 2,044 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CB Financial Services by 112.2% in the second quarter. Geode Capital Management LLC now owns 107,608 shares of the bank's stock valued at $3,067,000 after acquiring an additional 56,889 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in CB Financial Services by 0.8% in the second quarter. Bridgeway Capital Management LLC now owns 65,537 shares of the bank's stock valued at $1,868,000 after acquiring an additional 537 shares during the last quarter. Institutional investors and hedge funds own 33.06% of the company's stock.
About CB Financial Services
(
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.
Further Reading
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