CB Financial Services (NASDAQ:CBFV) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• CB Financial Services reported quarterly EPS of $0.91, exceeding analysts’ $0.81 consensus by $0.10. Revenue was $16.02 million, slightly below the $16.25 million estimate.
• Shares rose 1.3% to $39.15, near the company’s 52-week high. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $42.50.
• Two company insiders sold shares in August, while corporate insiders collectively own 10.2% of CB Financial Services.

CB Financial Services (NASDAQ:CBFV - Get Free Report) issued its quarterly earnings results on Monday. The bank reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.10, FiscalAI reports. The business had revenue of $16.02 million during the quarter, compared to analyst estimates of $16.25 million. CB Financial Services had a net margin of 8.52% and a return on equity of 10.08%.

CB Financial Services Trading Up 1.3%

Shares of CB Financial Services stock traded up $0.50 during trading on Monday, reaching $39.15. 7,215 shares of the company were exchanged, compared to its average volume of 5,152. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. CB Financial Services has a twelve month low of $31.72 and a twelve month high of $39.55. The business has a 50-day moving average price of $37.41 and a 200-day moving average price of $36.61. The firm has a market capitalization of $198.88 million, a price-to-earnings ratio of 29.00 and a beta of 0.29.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CBFV. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CB Financial Services in a research note on Monday, September 21st. Keefe, Bruyette & Woods boosted their price objective on CB Financial Services from $40.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, DA Davidson upped their target price on shares of CB Financial Services from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.50.

Insider Transactions at CB Financial Services

In other CB Financial Services news, insider Stephen Cobain sold 1,500 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $37.10, for a total transaction of $55,650.00. Following the transaction, the insider owned 4,313 shares in the company, valued at approximately $160,012.30. This trade represents a 25.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Swiatek sold 1,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $37.06, for a total value of $37,060.00. Following the transaction, the director owned 12,644 shares of the company's stock, valued at $468,586.64. The trade was a 7.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.20% of the company's stock.

About CB Financial Services

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Its principal subsidiary, Community Bank, provides personal and business banking services to individuals, families, farms, and companies in the communities it serves.

Community Bank offers a range of deposit products, including checking, savings, money market, and time deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, business loans, agricultural loans, and consumer credit.

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