CB Financial Services (NASDAQ:CBFV) Shares Cross Above 50-Day Moving Average - Here's What Happened

Key Points

• CB Financial Services shares crossed above their 50-day moving average, reaching $38.50 before closing at $38.31, compared with a 50-day average of $37.38.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $42.50 price target; DA Davidson and Keefe, Bruyette & Woods recently raised their targets.
• The company reported quarterly earnings of $0.81 per share, beating estimates by $0.09, and pays a quarterly dividend of $0.28, equivalent to a 2.9% annual yield.

Shares of CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $37.38 and traded as high as $38.50. CB Financial Services shares last traded at $38.31, with a volume of 5,130 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on CBFV. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CB Financial Services in a research note on Monday, September 21st. 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 report on Monday, August 10th. Finally, DA Davidson upped their target price on shares of CB Financial Services from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, CB Financial Services currently has an average rating of "Moderate Buy" and an average price target of $42.50.

CB Financial Services Stock Performance

The company has a market cap of $194.61 million, a PE ratio of 28.38 and a beta of 0.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $37.38 and a 200 day moving average of $36.59.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The bank reported $0.81 earnings per share 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 business had revenue of $15.53 million for the quarter, compared to the consensus estimate of $15.40 million. Equities research analysts anticipate that CB Financial Services, Inc. will post 3.21 EPS for the current fiscal year.

CB Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.12 dividend on an annualized basis and a yield of 2.9%. CB Financial Services's payout ratio is currently 82.96%.

Insider Buying and Selling at CB Financial Services

In related news, Director John Swiatek sold 1,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $37.06, for a total value of $37,060.00. Following the completion of the transaction, the director owned 12,644 shares of the company's stock, valued at approximately $468,586.64. This trade represents a 7.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Cobain sold 1,500 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $37.10, for a total value of $55,650.00. Following the sale, the insider owned 4,313 shares in the company, valued at $160,012.30. The trade was a 25.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CB Financial Services

Hedge funds have recently bought and sold shares of the business. Deutsche Bank AG purchased a new stake in CB Financial Services in the 2nd quarter valued at about $173,000. Bank of America Corp DE purchased a new position in shares of CB Financial Services during the second quarter valued at $212,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CB Financial Services in the second quarter worth about $351,000. HBK Sorce Advisory LLC bought a new position in CB Financial Services during the 2nd quarter worth about $393,000. Finally, Bank of New York Mellon Corp bought a new position in shares of CB Financial Services during the second quarter valued at approximately $407,000. Institutional investors own 33.06% of the company's stock.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Through its principal subsidiary, Community Bank, the company provides financial services to individuals, families, businesses and organizations in southwestern Pennsylvania and northern West Virginia.

Community Bank offers a range of banking products, including checking and savings accounts, certificates of deposit and other deposit services. Its lending activities include residential and commercial real estate loans, commercial and industrial financing, consumer loans and other credit products.

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