CB Financial Services (NASDAQ:CBFV) Shares Pass Above 50-Day Moving Average – Here’s What Happened

CB Financial Services, Inc. (NASDAQ:CBFV)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $36.58 and traded as high as $37.39. CB Financial Services shares last traded at $36.96, with a volume of 7,544 shares traded.

Analysts Set New Price Targets

CBFV has been the topic of several research reports. DA Davidson increased their price target on shares of CB Financial Services from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research upgraded CB Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, CB Financial Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

CB Financial Services Trading Up 0.5%

The company has a 50 day moving average of $36.64 and a 200-day moving average of $35.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $188.91 million, a price-to-earnings ratio of 27.60 and a beta of 0.28.

CB Financial Services (NASDAQ:CBFV) last released its earnings results on Monday, July 27th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $15.52 million during the quarter, compared to analyst estimates of $15.40 million. CB Financial Services had a return on equity of 10.17% and a net margin of 8.52%. On average, research analysts anticipate that CB Financial Services, Inc. will post 3.21 earnings per share for the current year.

CB Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, August 14th. CB Financial Services’s dividend payout ratio (DPR) is currently 82.96%.

Hedge Funds Weigh In On CB Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in shares of CB Financial Services during the 2nd quarter worth approximately $407,000. M3F Inc. lifted its stake in CB Financial Services by 4.5% in the 1st 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 in the last quarter. Barclays PLC boosted its stake in shares of CB Financial Services by 5.1% during the fourth quarter. Barclays PLC now owns 14,577 shares of the bank’s stock valued at $508,000 after acquiring an additional 701 shares during the last quarter. State Street Corp boosted its stake in shares of CB Financial Services by 7.0% during the 4th quarter. State Street Corp now owns 50,678 shares of the bank’s stock worth $1,767,000 after purchasing an additional 3,331 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position 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. Institutional investors and hedge funds own 33.06% of the company’s stock.

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.