CB Financial Services (NASDAQ:CBFV) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of CB Financial Services, Inc. (NASDAQ:CBFV) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $35.17 and traded as low as $34.50. CB Financial Services shares last traded at $36.99, with a volume of 16,672 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CBFV shares. Zacks Research upgraded shares of CB Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a research note on Friday, March 27th. Finally, DA Davidson started coverage on shares of CB Financial Services in a research report on Wednesday, February 25th. They issued a “buy” rating and a $43.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, CB Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

CB Financial Services Price Performance

The stock’s 50-day moving average is $35.16 and its 200 day moving average is $35.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $187.65 million, a PE ratio of 28.67 and a beta of 0.28.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. CB Financial Services had a net margin of 8.32% and a return on equity of 10.07%. The company had revenue of $14.82 million during the quarter, compared to analysts’ expectations of $15.50 million. On average, equities analysts anticipate that CB Financial Services, Inc. will post 3.12 earnings per share for the current fiscal year.

CB Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.0%. CB Financial Services’s dividend payout ratio is presently 86.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CBFV. Bank of America Corp DE raised its holdings in shares of CB Financial Services by 1,093.4% in the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock worth $109,000 after buying an additional 3,488 shares during the last quarter. Goldman Sachs Group Inc. raised 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 buying an additional 11,704 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of CB Financial Services by 2.5% in the first quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock worth $967,000 after buying an additional 828 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of CB Financial Services in the first quarter worth $537,000. Finally, Acadian Asset Management LLC raised its holdings in shares of CB Financial Services by 30.3% in the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank’s stock worth $115,000 after buying an additional 966 shares during the last quarter. Hedge funds and other 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.