Insider Buying: CB Financial Services (NASDAQ:CBFV) EVP Purchases $32,800.00 in Stock

CB Financial Services, Inc. (NASDAQ:CBFV) EVP Bruce Sharp acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average price of $32.80 per share, with a total value of $32,800.00. Following the completion of the transaction, the executive vice president directly owned 1,000 shares in the company, valued at $32,800. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CB Financial Services Stock Up 0.5%

Shares of CB Financial Services stock traded up $0.15 during trading on Wednesday, reaching $32.88. The stock had a trading volume of 293 shares, compared to its average volume of 16,206. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $164.76 million, a price-to-earnings ratio of 68.50 and a beta of 0.37. The stock has a fifty day moving average price of $33.01 and a two-hundred day moving average price of $31.08. CB Financial Services, Inc. has a 52 week low of $26.01 and a 52 week high of $34.50.

CB Financial Services (NASDAQ:CBFV) last announced its earnings results on Thursday, October 23rd. The bank reported $0.74 EPS for the quarter, topping the consensus estimate of $0.66 by $0.08. CB Financial Services had a net margin of 3.37% and a return on equity of 8.49%. The business had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $13.96 million. Sell-side analysts predict that CB Financial Services, Inc. will post 1.82 EPS for the current fiscal year.

CB Financial Services declared that its board has authorized a share buyback plan on Thursday, September 4th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

CB Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.26 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.04 annualized dividend and a dividend yield of 3.2%. CB Financial Services’s dividend payout ratio (DPR) is presently 216.67%.

Hedge Funds Weigh In On CB Financial Services

Several institutional investors and hedge funds have recently modified their holdings of CBFV. Bridgeway Capital Management LLC boosted its stake in CB Financial Services by 0.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 65,537 shares of the bank’s stock valued at $1,868,000 after purchasing an additional 537 shares during the period. Citadel Advisors LLC raised its stake in CB Financial Services by 8.0% in the 3rd quarter. Citadel Advisors LLC now owns 8,576 shares of the bank’s stock worth $285,000 after purchasing an additional 632 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in CB Financial Services by 89.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock valued at $45,000 after purchasing an additional 635 shares during the period. Empowered Funds LLC grew its position in shares of CB Financial Services by 2.5% during the 1st quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock worth $967,000 after purchasing an additional 828 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CB Financial Services by 11.8% during the first 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 period. 33.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CBFV has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on CB Financial Services from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Monday. DA Davidson lifted their price objective on shares of CB Financial Services from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of CB Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.00.

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.