CB Financial Services (NASDAQ:CBFV) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

CB Financial Services (NASDAQ:CBFV) announced its quarterly earnings data on Monday. The bank reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09, FiscalAI reports. The company had revenue of $15.52 million during the quarter, compared to analyst estimates of $15.40 million. CB Financial Services had a net margin of 8.32% and a return on equity of 10.07%.

CB Financial Services Stock Performance

NASDAQ:CBFV traded up $0.43 during mid-day trading on Monday, hitting $36.33. 4,022 shares of the company traded hands, compared to its average volume of 5,360. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average price is $36.23 and its 200-day moving average price is $35.54. The firm has a market cap of $184.30 million, a price-to-earnings ratio of 28.16 and a beta of 0.28. CB Financial Services has a one year low of $30.00 and a one year high of $38.86.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in CB Financial Services by 89.7% during the third quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock valued at $45,000 after purchasing an additional 635 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in CB Financial Services by 902.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock valued at $70,000 after acquiring an additional 2,212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CB Financial Services in the 2nd quarter worth $73,000. Raymond James Financial Inc. purchased a new stake in CB Financial Services in the 2nd quarter worth $99,000. Finally, New York State Common Retirement Fund bought a new position in shares of CB Financial Services during the 2nd quarter valued at about $105,000. 33.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBFV has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Wednesday, June 24th. Zacks Research raised shares of CB Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

About CB Financial Services

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.