CB Financial Services (NASDAQ:CBFV) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Shares of CB Financial Services, Inc. (NASDAQ:CBFV) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.58 and traded as high as $37.39. CB Financial Services shares last traded at $36.96, with a volume of 7,544 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CBFV shares. Zacks Research upgraded shares of CB Financial Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research note on Wednesday, June 24th. Finally, DA Davidson lifted their price target on CB Financial Services from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.50.

CB Financial Services Stock Up 0.0%

The company has a market cap of $187.39 million, a PE ratio of 27.38 and a beta of 0.28. The stock’s 50 day moving average price is $36.58 and its 200-day moving average price is $35.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 0.87.

CB Financial Services (NASDAQ:CBFV) last issued its 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. The company had revenue of $15.52 million for the quarter, compared to analysts’ expectations of $15.40 million. CB Financial Services had a net margin of 8.52% and a return on equity of 10.17%. On average, analysts predict that CB Financial Services, Inc. will post 3.21 earnings per share for the current year.

CB Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 14th. CB Financial Services’s dividend payout ratio (DPR) is 82.96%.

Institutional Investors Weigh In On CB Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in CB Financial Services by 158.5% during the 3rd quarter. Vanguard Group Inc. now owns 246,068 shares of the bank’s stock valued at $8,172,000 after acquiring an additional 150,873 shares during the period. Geode Capital Management LLC boosted its stake in shares of CB Financial Services by 112.2% during the second quarter. Geode Capital Management LLC now owns 107,608 shares of the bank’s stock valued at $3,067,000 after purchasing an additional 56,889 shares during the period. Jane Street Group LLC bought a new position in shares of CB Financial Services in the first quarter worth approximately $537,000. Goldman Sachs Group Inc. grew its holdings in shares of CB Financial Services by 108.0% in the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock worth $641,000 after purchasing an additional 11,704 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new position in shares of CB Financial Services in the fourth quarter worth $396,000. Institutional investors own 33.06% of the company’s stock.

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.