CB Financial Services (NASDAQ:CBFV) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

CB Financial Services, Inc. (NASDAQ:CBFV) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $37.38 and traded as high as $38.50. CB Financial Services shares last traded at $38.31, with a volume of 5,130 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on CBFV. DA Davidson lifted their target price 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. Keefe, Bruyette & Woods upped their price target 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, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, CB Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

CB Financial Services Stock Performance

The stock has a market capitalization of $196.42 million, a P/E ratio of 28.63 and a beta of 0.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $37.41 and a 200-day moving average price of $36.60.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Monday, July 27th. The bank reported $0.81 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $15.40 million. On average, sell-side analysts expect that CB Financial Services, Inc. will post 3.21 EPS for the current year.

CB Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 14th. CB Financial Services’s payout ratio is presently 82.96%.

Insider Activity at CB Financial Services

In related news, insider Stephen Cobain sold 1,500 shares of the firm’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 sale, the insider owned 4,313 shares in the company, valued at approximately $160,012.30. This trade represents a 25.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Swiatek sold 1,000 shares of the firm’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 completion of the sale, the director owned 12,644 shares in the company, valued at $468,586.64. This represents a 7.33% decrease in their position. The SEC filing for this sale provides additional information. 10.20% of the stock is owned by insiders.

Institutional Investors Weigh In On CB Financial Services

A number of hedge funds have recently added to or reduced their stakes in CBFV. Deutsche Bank AG bought a new stake in shares of CB Financial Services in the second quarter worth $173,000. Bank of America Corp DE purchased a new stake in CB Financial Services during the second quarter valued at $212,000. M3F Inc. increased its position in CB Financial Services by 4.5% during the first quarter. M3F Inc. now owns 171,439 shares of the bank’s stock valued at $5,860,000 after acquiring an additional 7,425 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in CB Financial Services in the second quarter valued at about $351,000. Finally, HBK Sorce Advisory LLC bought a new position in CB Financial Services in the second quarter valued at about $393,000. 33.06% of the stock is currently owned by hedge funds and other institutional investors.

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.