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.

Wall Street Analyst Weigh In

A number of research firms have commented on CBFV. Weiss Ratings cut shares of CB Financial Services from a “buy (b)” rating to a “hold (c)” rating in a report on Monday. Keefe, Bruyette & Woods upped their target price on CB Financial Services from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen raised shares of CB Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, DA Davidson boosted their price target on shares of CB Financial Services from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.00.

CB Financial Services Stock Down 0.4%

The company has a market cap of $168.68 million, a P/E ratio of 70.48 and a beta of 0.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a fifty day moving average price of $32.95 and a two-hundred day moving average price of $30.93.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.42 million during the quarter, compared to the consensus estimate of $13.96 million. On average, research analysts expect that CB Financial Services, Inc. will post 1.82 EPS for the current year.

CB Financial Services Dividend Announcement

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

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

Insider Buying and Selling

In other CB Financial Services news, COO Jennifer L. George sold 5,042 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.15, for a total value of $167,142.30. Following the transaction, the chief operating officer owned 12,285 shares of the company’s stock, valued at approximately $407,247.75. The trade was a 29.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company’s stock.

Institutional Trading of CB Financial Services

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in CB Financial Services by 1,093.4% in the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock worth $109,000 after acquiring an additional 3,488 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of CB Financial Services by 11.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank’s stock worth $241,000 after purchasing an additional 892 shares during the last quarter. M3F Inc. increased its stake in shares of CB Financial Services by 204.3% during the 1st quarter. M3F Inc. now owns 97,549 shares of the bank’s stock worth $2,775,000 after purchasing an additional 65,494 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of CB Financial Services by 108.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock worth $641,000 after purchasing an additional 11,704 shares during the period. Finally, Empowered Funds LLC lifted its stake in 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. Hedge funds and other institutional investors own 33.06% of the company’s stock.

About CB Financial Services

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.