CB Financial Services (NASDAQ:CBFV) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• CB Financial Services shares moved above their 50-day moving average, trading as high as $37.33 and last changing hands at $37.21 on volume of 4,085 shares.
• Analyst sentiment is positive overall, with a consensus “Moderate Buy” rating and an average price target of $42.50. Keefe, Bruyette & Woods and DA Davidson recently raised their price targets to $41 and $44, respectively.
• The company reported quarterly EPS of $0.81, beating estimates by $0.09, and maintains a quarterly dividend of $0.28 per share—an annualized $1.12 payout and approximately 3.0% yield.

CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $37.11 and traded as high as $37.33. CB Financial Services shares last traded at $37.21, with a volume of 4,085 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on CBFV. Keefe, Bruyette & Woods upped their target price on CB Financial Services from $40.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Weiss Ratings reissued a "hold (c)" rating on shares of CB Financial Services in a research note on Wednesday, June 24th. Finally, DA Davidson increased their price objective on CB Financial Services from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

CB Financial Services Stock Performance

The firm has a market cap of $189.03 million, a price-to-earnings ratio of 27.56 and a beta of 0.28. The firm's 50 day moving average is $37.11 and its 200-day moving average is $36.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.85 and a current ratio of 0.85.

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

CB Financial Services Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On CB Financial Services

Several large investors have recently bought and sold shares of CBFV. BlackRock Inc. acquired a new stake in CB Financial Services in the 2nd quarter worth $10,625,000. M3F Inc. raised its position in shares of CB Financial Services by 4.5% during the first quarter. M3F Inc. now owns 171,439 shares of the bank's stock valued at $5,860,000 after buying an additional 7,425 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of CB Financial Services during the second quarter valued at about $5,843,000. Empowered Funds LLC bought a new stake in shares of CB Financial Services in the second quarter valued at about $1,358,000. Finally, De Lisle Partners LLP bought a new stake in shares of CB Financial Services in the second quarter valued at about $1,268,000. 33.06% of the stock is currently owned by institutional investors and hedge funds.

About CB Financial Services

CB Financial Services, Inc NASDAQ: CBFV is a bank holding company headquartered in Carmichaels, Pennsylvania. Through its subsidiary, Community Bank, the company provides community banking services to individuals, families and businesses.

Community Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts, as well as residential mortgage, consumer and commercial loans. Its services also include online and mobile banking, treasury management and other financial solutions designed to support personal and business banking needs.

The company primarily serves communities in southwestern Pennsylvania and adjacent areas of West Virginia through its branch network and digital banking channels.

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