Petiole USA ltd Reduces Position in CB Financial Services, Inc. $CBFV

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Petiole USA ltd cut its stake 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 disclosure with the Securities & Exchange Commission. The firm owned 69,484 shares of the bank's stock after selling 145,714 shares during the period. Petiole USA ltd owned 1.36% of CB Financial Services worth $1,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CBFV. Dimensional Fund Advisors LP grew its holdings in shares of CB Financial Services by 5.7% during the fourth 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. 683 Capital Management LLC purchased a new position in shares of CB Financial Services during the fourth quarter worth about $344,000. Ameriprise Financial Inc. purchased a new position in shares of CB Financial Services during the fourth quarter worth about $323,000. Bank of America Corp DE grew its holdings in shares of CB Financial Services by 1,093.4% during the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after purchasing an additional 3,488 shares in the last quarter. Finally, Fiduciary Trust Co purchased a new position in shares of CB Financial Services during the fourth quarter worth about $266,000. Hedge funds and other institutional investors own 33.06% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on CBFV shares. Wall Street Zen raised CB Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods raised CB Financial Services from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $31.00 to $39.00 in a report on Thursday, July 24th. Finally, DA Davidson boosted 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 investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Insider Buying and Selling at CB Financial Services

In related news, Director John Swiatek acquired 1,200 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average price of $28.80 per share, with a total value of $34,560.00. Following the completion of the purchase, the director owned 7,534 shares in the company, valued at $216,979.20. This trade represents a 18.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.40% of the company's stock.

CB Financial Services Price Performance

CBFV traded up $1.22 during midday trading on Friday, hitting $32.84. The stock had a trading volume of 17,531 shares, compared to its average volume of 13,995. The company has a market cap of $163.87 million, a P/E ratio of 15.27 and a beta of 0.37. The business has a fifty day moving average of $29.91 and a 200 day moving average of $29.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 0.87. 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 issued its earnings results on Tuesday, July 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.34. The business had revenue of $13.47 million during the quarter, compared to analyst estimates of $12.83 million. CB Financial Services had a return on equity of 7.79% and a net margin of 14.43%. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from CB Financial Services's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, August 15th. CB Financial Services's payout ratio 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.