Endeavour Capital Advisors Inc. Cuts Stake in CB Financial Services, Inc. $CBFV

Endeavour Capital Advisors Inc. lowered its stake in shares of CB Financial Services, Inc. (NASDAQ:CBFV) by 53.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,783 shares of the bank’s stock after selling 59,633 shares during the quarter. Endeavour Capital Advisors Inc.’s holdings in CB Financial Services were worth $1,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBFV. Police & Firemen s Retirement System of New Jersey bought a new stake in CB Financial Services in the 2nd quarter valued at $30,000. JPMorgan Chase & Co. grew its position in shares of CB Financial Services by 902.9% during the second quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock valued at $70,000 after purchasing an additional 2,212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of CB Financial Services in the second quarter worth about $73,000. Raymond James Financial Inc. bought a new position in CB Financial Services during the second quarter valued at approximately $99,000. Finally, New York State Common Retirement Fund bought a new position in CB Financial Services during the second quarter valued at approximately $105,000. Institutional investors own 33.06% of the company’s stock.

CB Financial Services Stock Down 3.5%

Shares of CBFV opened at $34.42 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $35.73 and a 200 day moving average of $34.00. The company has a market cap of $172.44 million, a PE ratio of 37.82 and a beta of 0.29. CB Financial Services, Inc. has a 52-week low of $26.01 and a 52-week high of $37.75.

CB Financial Services (NASDAQ:CBFV) last announced its earnings results on Tuesday, January 27th. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.11). The firm had revenue of $14.79 million during the quarter, compared to analysts’ expectations of $14.90 million. CB Financial Services had a net margin of 6.09% and a return on equity of 9.61%. On average, sell-side analysts expect that CB Financial Services, Inc. will post 1.82 EPS for the current year.

CB Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from CB Financial Services’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 3.3%. CB Financial Services’s payout ratio is 123.08%.

Insider Transactions at CB Financial Services

In other news, Vice Chairman Charles R. Guthrie sold 1,913 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $37.35, for a total value of $71,450.55. Following the sale, the insider directly owned 16,796 shares in the company, valued at approximately $627,330.60. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CBFV. Zacks Research downgraded CB Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Keefe, Bruyette & Woods reduced their price target on shares of CB Financial Services from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.50.

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.