CB Financial Services, Inc. (NASDAQ:CBFV – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $37.11 and traded as high as $37.33. CB Financial Services shares last traded at $37.21, with a volume of 4,085 shares.
Analysts Set New Price Targets
A number of research firms have issued reports on CBFV. DA Davidson boosted their price objective on shares of CB Financial Services from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of CB Financial Services in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods increased their price target on CB Financial Services from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.
View Our Latest Report on CB Financial Services
CB Financial Services Stock Down 0.4%
CB Financial Services (NASDAQ:CBFV – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. CB Financial Services had a return on equity of 10.08% and a net margin of 8.52%.The company had revenue of $15.53 million during the quarter, compared to analysts’ expectations of $15.40 million. On average, equities research analysts expect that CB Financial Services, Inc. will post 3.21 earnings per share for the current year.
CB Financial Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.12 annualized dividend and a yield of 3.0%. CB Financial Services’s payout ratio is presently 82.96%.
Insider Transactions at CB Financial Services
In related news, insider Stephen Cobain sold 1,500 shares of CB Financial Services 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 sale, the insider directly owned 4,313 shares of the company’s stock, valued at approximately $160,012.30. The trade was a 25.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Swiatek sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $37.06, for a total transaction of $37,060.00. Following the transaction, the director owned 12,644 shares of the company’s stock, valued at approximately $468,586.64. This represents a 7.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.20% of the stock is currently owned by corporate insiders.
Institutional Trading of CB Financial Services
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in CB Financial Services in the 2nd quarter valued at approximately $10,625,000. The Manufacturers Life Insurance Company bought a new stake in shares of CB Financial Services in the second quarter worth $5,843,000. Empowered Funds LLC bought a new stake in shares of CB Financial Services in the second quarter worth $1,358,000. De Lisle Partners LLP acquired a new stake in CB Financial Services in the second quarter valued at $1,268,000. Finally, Bank of New York Mellon Corp acquired a new stake in CB Financial Services in the second quarter valued at $407,000. Institutional investors and hedge funds own 33.06% of the company’s stock.
CB Financial Services Company Profile
CB Financial Services, Inc (NASDAQ: CBFV) is a bank holding company headquartered in Carmichaels, Pennsylvania. Through its subsidiary, Community Bank, the company provides community banking services to individuals, families and businesses.
Community Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts, as well as residential mortgage, consumer and commercial loans. Its services also include online and mobile banking, treasury management and other financial solutions designed to support personal and business banking needs.
The company primarily serves communities in southwestern Pennsylvania and adjacent areas of West Virginia through its branch network and digital banking channels.
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