Janney Montgomery Scott LLC Lowers Stock Position in CB Financial Services, Inc. (NASDAQ:CBFV)

Janney Montgomery Scott LLC cut its position in shares of CB Financial Services, Inc. (NASDAQ:CBFV - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 336,646 shares of the bank's stock after selling 16,350 shares during the period. Janney Montgomery Scott LLC owned 6.60% of CB Financial Services worth $9,578,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CBFV. M3F Inc. acquired a new position in CB Financial Services during the fourth quarter worth $916,000. 683 Capital Management LLC acquired a new stake in shares of CB Financial Services in the fourth quarter valued at about $344,000. Ameriprise Financial Inc. acquired a new stake in shares of CB Financial Services in the fourth quarter valued at about $323,000. Millennium Management LLC acquired a new stake in shares of CB Financial Services in the fourth quarter valued at about $301,000. Finally, Fiduciary Trust Co acquired a new stake in shares of CB Financial Services in the fourth quarter valued at about $266,000. 33.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Swiatek sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.50, for a total transaction of $73,750.00. Following the completion of the sale, the director now directly owns 11,494 shares in the company, valued at approximately $339,073. This trade represents a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of CB Financial Services from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th.

CB Financial Services Price Performance

Shares of NASDAQ CBFV traded down $0.04 during mid-day trading on Friday, reaching $27.49. The company's stock had a trading volume of 18,766 shares, compared to its average volume of 13,148. The stock has a 50-day moving average of $28.84 and a two-hundred day moving average of $28.89. The stock has a market capitalization of $138.00 million, a P/E ratio of 14.31 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. CB Financial Services, Inc. has a 1-year low of $20.99 and a 1-year high of $33.72.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.07. CB Financial Services had a net margin of 12.83% and a return on equity of 7.00%. The business had revenue of $12.10 million during the quarter, compared to analysts' expectations of $12.69 million. On average, equities research analysts anticipate that CB Financial Services, Inc. will post 1.82 EPS for the current fiscal year.

CB Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.64%. The ex-dividend date was Friday, May 16th. CB Financial Services's payout ratio is currently 52.08%.

CB Financial Services Profile

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.