CB Financial Services (NASDAQ:CBFV) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

CB Financial Services (NASDAQ:CBFV) released its earnings results on Wednesday. The bank reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01, FiscalAI reports. The business had revenue of $14.82 million for the quarter, compared to the consensus estimate of $15.50 million. CB Financial Services had a return on equity of 10.16% and a net margin of 8.32%.

CB Financial Services Trading Down 0.6%

CBFV stock traded down $0.21 during midday trading on Friday, hitting $34.91. 540 shares of the company’s stock were exchanged, compared to its average volume of 4,808. The business has a 50-day simple moving average of $34.80 and a two-hundred day simple moving average of $34.62. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $177.00 million, a PE ratio of 27.06 and a beta of 0.27. CB Financial Services has a 1-year low of $27.11 and a 1-year high of $37.75.

CB Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.2%. CB Financial Services’s dividend payout ratio (DPR) is presently 123.08%.

Insider Buying and Selling at CB Financial Services

In other CB Financial Services news, Vice Chairman Charles R. Guthrie sold 1,913 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $37.35, for a total transaction of $71,450.55. Following the completion of the sale, the insider owned 16,796 shares of the company’s stock, valued at $627,330.60. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Cobain sold 1,792 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $34.58, for a total value of $61,967.36. Following the sale, the insider directly owned 4,313 shares of the company’s stock, valued at approximately $149,143.54. This trade represents a 29.35% decrease in their position. The SEC filing for this sale provides additional information. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CB Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in CB Financial Services by 5.1% during the fourth quarter. Barclays PLC now owns 14,577 shares of the bank’s stock worth $508,000 after acquiring an additional 701 shares during the last quarter. State Street Corp increased its stake in CB Financial Services by 7.0% during the fourth quarter. State Street Corp now owns 50,678 shares of the bank’s stock worth $1,767,000 after acquiring an additional 3,331 shares during the last quarter. Wells Fargo & Company MN increased its stake in CB Financial Services by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,097 shares of the bank’s stock worth $178,000 after acquiring an additional 1,611 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CB Financial Services by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 36,540 shares of the bank’s stock worth $1,274,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in CB Financial Services by 28.7% during the fourth quarter. Deutsche Bank AG now owns 3,718 shares of the bank’s stock worth $130,000 after acquiring an additional 830 shares during the last quarter. Institutional investors and hedge funds own 33.06% of the company’s stock.

Analysts Set New Price Targets

CBFV has been the topic of a number of analyst reports. DA Davidson initiated coverage on CB Financial Services in a research report on Wednesday, February 25th. They set a “buy” rating and a $43.00 price objective on the stock. Zacks Research downgraded CB Financial Services from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods reduced their price objective on CB Financial Services from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CB Financial Services in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CB Financial Services has an average rating of “Hold” and an average price target of $41.00.

About CB Financial Services

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.