CB Financial Services (NASDAQ:CBFV) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

CB Financial Services, Inc. (NASDAQ:CBFV) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $32.95 and traded as high as $33.99. CB Financial Services shares last traded at $33.83, with a volume of 2,892 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CBFV shares. Wall Street Zen raised CB Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings downgraded CB Financial Services from a “buy (b)” rating to a “hold (c)” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their target price on CB Financial Services from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, DA Davidson increased their target price on shares of CB Financial Services from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.00.

CB Financial Services Stock Down 0.4%

The stock has a market capitalization of $168.68 million, a price-to-earnings ratio of 70.48 and a beta of 0.37. 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 stock has a 50 day moving average price of $32.95 and a 200 day moving average price of $30.93.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. CB Financial Services had a return on equity of 8.49% and a net margin of 3.37%.The company had revenue of $2.42 million during the quarter, compared to the consensus estimate of $13.96 million. As a group, analysts forecast that CB Financial Services, Inc. will post 1.82 EPS for the current year.

CB Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.04 annualized dividend and a dividend yield of 3.1%. CB Financial Services’s dividend payout ratio (DPR) is presently 216.67%.

CB Financial Services declared that its Board of Directors has approved a share repurchase program on Thursday, September 4th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Jennifer L. George sold 5,042 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.15, for a total transaction of $167,142.30. Following the completion of the transaction, the chief operating officer directly owned 12,285 shares of the company’s stock, valued at $407,247.75. This trade represents a 29.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake 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 valued at $109,000 after purchasing an additional 3,488 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position 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 in the last quarter. M3F Inc. lifted its stake in shares of CB Financial Services by 204.3% in the 1st quarter. M3F Inc. now owns 97,549 shares of the bank’s stock valued at $2,775,000 after purchasing an additional 65,494 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of CB Financial Services by 108.0% during the 1st 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. Finally, Empowered Funds LLC grew its stake in CB Financial Services by 2.5% during the first quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock worth $967,000 after purchasing an additional 828 shares during the period. Institutional investors and hedge funds own 33.06% of the company’s stock.

CB Financial Services Company Profile

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.