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

CB Financial Services (NASDAQ:CBFV) posted its quarterly earnings results on Monday. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10, FiscalAI reports. The company had revenue of $16.02 million for the quarter, compared to the consensus estimate of $16.25 million.

CB Financial Services Price Performance

Shares of CBFV opened at $39.63 on Wednesday. The firm has a fifty day moving average price of $37.51 and a 200-day moving average price of $36.17. CB Financial Services has a 12-month low of $31.72 and a 12-month high of $40.39.

CB Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 13th.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CBFV shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, September 21st. Keefe, Bruyette & Woods lifted their price objective 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 reaffirmed a “buy” rating and issued a $44.00 price objective on shares of CB Financial Services in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Transactions at CB Financial Services

In other news, Director John Swiatek sold 1,000 shares of CB Financial Services stock in a transaction on Friday, August 14th. The stock was sold at an average price of $37.06, for a total value of $37,060.00. Following the transaction, the director directly owned 12,644 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, insider Stephen Cobain sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $37.10, for a total transaction of $55,650.00. Following the completion of the sale, the insider owned 4,313 shares of the company’s stock, valued at approximately $160,012.30. This trade represents a 25.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.20% of the company’s stock.

About CB Financial Services

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Its principal subsidiary, Community Bank, provides personal and business banking services to individuals, families, farms, and companies in the communities it serves.

Community Bank offers a range of deposit products, including checking, savings, money market, and time deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, business loans, agricultural loans, and consumer credit.