Petiole USA ltd Has $1.98 Million Holdings in CB Financial Services, Inc. $CBFV

Key Points

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Petiole USA ltd decreased its position in shares of CB Financial Services, Inc. (NASDAQ:CBFV - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,484 shares of the bank's stock after selling 145,714 shares during the quarter. Petiole USA ltd owned approximately 1.36% of CB Financial Services worth $1,977,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CBFV. Bank of America Corp DE lifted its holdings in CB Financial Services by 1,093.4% during the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after buying an additional 3,488 shares in the last quarter. ORG Partners LLC acquired a new position in CB Financial Services during the 1st quarter worth $211,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CB Financial Services by 11.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank's stock worth $241,000 after buying an additional 892 shares in the last quarter. Fiduciary Trust Co acquired a new position in CB Financial Services during the 4th quarter worth $266,000. Finally, Millennium Management LLC acquired a new position in CB Financial Services during the 4th quarter worth $301,000. Institutional investors and hedge funds own 33.06% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on CBFV shares. Keefe, Bruyette & Woods raised CB Financial Services from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $31.00 to $39.00 in a report on Thursday, July 24th. Wall Street Zen raised CB Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, DA Davidson upped their price objective on CB Financial Services from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, CB Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Insider Buying and Selling

In other CB Financial Services news, Director John Swiatek acquired 1,200 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average price of $28.80 per share, with a total value of $34,560.00. Following the purchase, the director owned 7,534 shares of the company's stock, valued at $216,979.20. This represents a 18.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.70% of the company's stock.

CB Financial Services Trading Up 3.9%

Shares of CBFV stock traded up $1.22 during trading hours on Friday, reaching $32.84. The company had a trading volume of 17,531 shares, compared to its average volume of 14,680. The company has a 50 day moving average of $29.91 and a 200 day moving average of $29.15. 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 market cap of $163.87 million, a price-to-earnings ratio of 15.27 and a beta of 0.37. CB Financial Services, Inc. has a 1-year low of $24.82 and a 1-year high of $33.98.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.34. The company had revenue of $13.47 million for the quarter, compared to the consensus estimate of $12.83 million. CB Financial Services had a return on equity of 7.79% and a net margin of 14.43%. On average, equities research analysts anticipate that CB Financial Services, Inc. will post 1.82 EPS for the current year.

CB Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.26 dividend. This is an increase from CB Financial Services's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.2%. CB Financial Services's dividend payout ratio (DPR) is currently 48.37%.

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.