BlackRock Inc. Acquires Shares of 280,331 CB Financial Services, Inc. $CBFV

Key Points

• BlackRock acquired 280,331 shares of CB Financial Services, valued at approximately $10.6 million, giving it a 5.53% stake. Institutional investors collectively own 33.06% of the company.
• CB Financial Services reported quarterly EPS of $0.81, exceeding analyst expectations of $0.72, while revenue reached $15.53 million. The bank also pays a quarterly dividend of $0.28 per share, representing a 3.0% annual yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $42.50, compared with the stock’s recent price of $37.60; two analysts rate it Buy and two rate it Hold.

BlackRock Inc. acquired a new position in shares of CB Financial Services, Inc. (NASDAQ:CBFV - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 280,331 shares of the bank's stock, valued at approximately $10,625,000. BlackRock Inc. owned 5.53% of CB Financial Services as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of CB Financial Services by 158.5% in the third quarter. Vanguard Group Inc. now owns 246,068 shares of the bank's stock valued at $8,172,000 after purchasing an additional 150,873 shares during the period. M3F Inc. boosted its stake in CB Financial Services by 4.5% in the first quarter. M3F Inc. now owns 171,439 shares of the bank's stock valued at $5,860,000 after acquiring an additional 7,425 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake 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 buying an additional 2,044 shares during the last quarter. Geode Capital Management LLC boosted its stake in CB Financial Services by 112.2% in the 2nd quarter. Geode Capital Management LLC now owns 107,608 shares of the bank's stock worth $3,067,000 after purchasing an additional 56,889 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in CB Financial Services by 3.5% during the 3rd quarter. Bridgeway Capital Management LLC now owns 67,840 shares of the bank's stock valued at $2,253,000 after purchasing an additional 2,303 shares during the last quarter. Institutional investors own 33.06% of the company's stock.

CB Financial Services Stock Performance

Shares of NASDAQ CBFV opened at $37.60 on Friday. The company has a 50-day simple moving average of $37.21 and a 200-day simple moving average of $35.89. CB Financial Services, Inc. has a 12 month low of $30.97 and a 12 month high of $38.86. The company has a market cap of $191.01 million, a PE ratio of 27.85 and a beta of 0.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.85.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.09. The company had revenue of $15.53 million during the quarter, compared to the consensus estimate of $15.40 million. CB Financial Services had a net margin of 8.52% and a return on equity of 10.08%. On average, equities analysts anticipate that CB Financial Services, Inc. will post 3.21 earnings per share for the current year.

CB Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 14th. CB Financial Services's dividend payout ratio is 82.96%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of CB Financial Services in a research report on Wednesday, June 24th. Zacks Research raised shares of CB Financial Services from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 12th. DA Davidson lifted their price target on CB Financial Services from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on CB Financial Services from $40.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

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.

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