CB Financial Services (NASDAQ:CBFV) COO Jennifer L. George Sells 5,042 Shares

Key Points

• COO Jennifer George of CB Financial Services sold 5,042 shares of stock at an average price of $33.15, resulting in a total transaction value of $167,142.30.
• The company recently announced a quarterly dividend increase to $0.26 per share, reflecting a 3.1% dividend yield, with a payout ratio of 48.37%.
• Equities analysts have upgraded CB Financial Services, setting a new price target of $39.00 and providing the stock with a consensus rating of "Moderate Buy".

CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) COO Jennifer L. George sold 5,042 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $33.15, for a total value of $167,142.30. Following the sale, the chief operating officer owned 12,285 shares of the company's stock, valued at approximately $407,247.75. This trade represents a 29.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CB Financial Services Stock Performance

NASDAQ:CBFV traded down $0.03 during trading hours on Monday, reaching $33.87. 72,856 shares of the stock were exchanged, compared to its average volume of 12,967. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $31.97 and a 200-day simple moving average of $29.70. CB Financial Services, Inc. has a 52 week low of $26.01 and a 52 week high of $33.98. The stock has a market capitalization of $169.01 million, a P/E ratio of 15.84 and a beta of 0.36.

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

CB Financial Services declared that its board has approved a share repurchase program on Thursday, September 4th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

CB Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.04 dividend on an annualized basis and a yield of 3.1%. This is a boost from CB Financial Services's previous quarterly dividend of $0.25. CB Financial Services's dividend payout ratio (DPR) is 48.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CBFV shares. Keefe, Bruyette & Woods raised CB Financial Services from a "market perform" rating to an "outperform" rating and upped their target price for the company 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 target price on CB Financial Services from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.

Institutional Investors Weigh In On CB Financial Services

A number of institutional investors have recently added to or reduced their stakes in CBFV. Ameriprise Financial Inc. acquired a new position in shares of CB Financial Services in the 4th quarter worth $323,000. Bank of America Corp DE grew its holdings in shares of CB Financial Services by 1,093.4% in the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after acquiring an additional 3,488 shares during the last quarter. Millennium Management LLC acquired a new position in shares of CB Financial Services in the 4th quarter worth $301,000. ORG Partners LLC acquired a new position in shares of CB Financial Services in the 1st quarter worth $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CB Financial Services by 11.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank's stock worth $241,000 after acquiring an additional 892 shares during the last quarter. 33.06% of the stock is currently owned by institutional investors and hedge funds.

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.