CB Financial Services (NASDAQ:CBFV) Issues Quarterly Earnings Results

CB Financial Services (NASDAQ:CBFV) announced its earnings results on Monday. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09, FiscalAI reports. The business had revenue of $15.52 million for the quarter, compared to analyst estimates of $15.40 million. CB Financial Services had a net margin of 8.52% and a return on equity of 10.17%.

CB Financial Services Price Performance

Shares of NASDAQ CBFV opened at $37.25 on Wednesday. The firm has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $35.57. The stock has a market capitalization of $188.86 million, a price-to-earnings ratio of 27.59 and a beta of 0.28. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.22. CB Financial Services has a 52 week low of $30.00 and a 52 week high of $38.86.

CB Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is 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 presently 86.82%.

Hedge Funds Weigh In On CB Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in CB Financial Services by 1,093.4% during the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock valued at $109,000 after acquiring an additional 3,488 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of CB Financial Services by 108.0% in the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock valued at $641,000 after purchasing an additional 11,704 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of CB Financial Services by 2.5% in the first quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock valued at $967,000 after purchasing an additional 828 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of CB Financial Services in the first quarter valued at approximately $537,000. Finally, Acadian Asset Management LLC lifted its position in CB Financial Services by 30.3% during the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank’s stock worth $115,000 after buying an additional 966 shares in the last quarter. 33.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a research report on Wednesday, June 24th. Zacks Research upgraded CB Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.00.

CB Financial Services Company Profile

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.