CB Financial Services (NASDAQ:CBFV) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

CB Financial Services (NASDAQ:CBFV) posted its earnings results on Monday. The bank reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 had a return on equity of 10.08% and a net margin of 8.52%.

CB Financial Services Trading Up 1.3%

Shares of NASDAQ CBFV opened at $39.15 on Tuesday. CB Financial Services has a 1-year low of $31.72 and a 1-year high of $39.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day moving average is $37.41 and its two-hundred day moving average is $36.11. The stock has a market capitalization of $198.96 million, a P/E ratio of 29.00 and a beta of 0.29.

CB Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 13th. CB Financial Services’s payout ratio is presently 82.96%.

Wall Street Analysts Forecast Growth

CBFV has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a 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 research note on Monday, August 10th. Finally, DA Davidson increased their target price on CB Financial Services from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insider Activity at CB Financial Services

In other news, Director John Swiatek sold 1,000 shares of the business’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. The trade was a 7.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Cobain sold 1,500 shares of the business’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 value of $55,650.00. Following the transaction, the insider directly owned 4,313 shares in the company, valued at approximately $160,012.30. This represents a 25.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.20% of the stock is owned by company insiders.

CB Financial Services Company Profile

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.