CB Financial Services (NASDAQ:CBFV) Releases Earnings Results, Misses Expectations By $0.11 EPS

CB Financial Services (NASDAQ:CBFV) posted its quarterly earnings data on Tuesday. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11), FiscalAI reports. CB Financial Services had a net margin of 3.37% and a return on equity of 8.42%. The business had revenue of $14.79 million for the quarter, compared to analysts’ expectations of $14.90 million.

CB Financial Services Price Performance

NASDAQ CBFV opened at $35.45 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50 day moving average price is $35.14 and its 200-day moving average price is $33.33. CB Financial Services has a 52-week low of $26.01 and a 52-week high of $37.45. The company has a market cap of $177.60 million, a PE ratio of 73.86 and a beta of 0.32.

CB Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from CB Financial Services’s previous quarterly dividend of $0.26. CB Financial Services’s dividend payout ratio is currently 216.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CBFV. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research note on Monday, December 29th. Zacks Research cut shares of CB Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of CB Financial Services from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling

In related news, EVP Bruce A. Sharp bought 1,000 shares of the stock in a transaction on Tuesday, November 18th. The stock was bought at an average price of $32.80 per share, for a total transaction of $32,800.00. Following the completion of the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at approximately $32,800. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of CB Financial Services by 71.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,209 shares of the bank’s stock worth $140,000 after purchasing an additional 1,752 shares during the last quarter. Citadel Advisors LLC grew its position in shares of 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 buying an additional 632 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CB Financial Services by 22.5% during the 3rd quarter. Bank of America Corp DE now owns 5,035 shares of the bank’s stock worth $167,000 after acquiring an additional 924 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in CB Financial Services by 3.5% during the third quarter. Bridgeway Capital Management LLC now owns 67,840 shares of the bank’s stock valued at $2,253,000 after acquiring an additional 2,303 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in CB Financial Services by 89.7% in the third quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock valued at $45,000 after acquiring an additional 635 shares in the last quarter. 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 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.