Key Points
- EVP Bruce Sharp bought 1,000 shares of CB Financial Services on November 18 at an average price of $32.80 for a $32,800 insider purchase, disclosed in an SEC filing.
- The company declared a quarterly dividend of $0.26 (annualized $1.04) with a yield of 3.1% and an ex-dividend date of November 14, though the dividend payout ratio is a high 216.67%.
- CB Financial’s board authorized a $5.0 million share repurchase plan (up to ~3.1% of shares), the bank recently beat EPS expectations ($0.74 vs. $0.66) despite weak revenue, and analysts hold a consensus "Hold" rating with a $36 price target.
CB Financial Services, Inc. (NASDAQ:CBFV - Get Free Report) EVP Bruce Sharp bought 1,000 shares of the firm's stock in a transaction dated Tuesday, November 18th. The shares were acquired at an average price of $32.80 per share, for a total transaction of $32,800.00. Following the acquisition, the executive vice president directly owned 1,000 shares of the company's stock, valued at approximately $32,800. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
CB Financial Services Price Performance
NASDAQ CBFV traded up $0.86 on Thursday, hitting $33.64. 650 shares of the company were exchanged, compared to its average volume of 16,148. The firm has a 50 day moving average of $33.00 and a two-hundred day moving average of $31.09. The company has a market cap of $168.57 million, a P/E ratio of 70.08 and a beta of 0.37. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. CB Financial Services, Inc. has a 1-year low of $26.01 and a 1-year high of $34.50.
CB Financial Services (NASDAQ:CBFV - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.08. CB Financial Services had a net margin of 3.37% and a return on equity of 8.49%. The firm had revenue of $2.42 million during the quarter, compared to analysts' expectations of $13.96 million. On average, equities analysts predict that CB Financial Services, Inc. will post 1.82 EPS for the current year.
CB Financial Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. CB Financial Services's dividend payout ratio (DPR) is 216.67%.
CB Financial Services announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 4th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Trading of CB Financial Services
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its position in CB Financial Services by 1.1% during the second quarter. Janney Montgomery Scott LLC now owns 340,462 shares of the bank's stock valued at $9,703,000 after purchasing an additional 3,816 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CB Financial Services by 158.5% in the third quarter. Vanguard Group Inc. now owns 246,068 shares of the bank's stock valued at $8,172,000 after buying an additional 150,873 shares in the last quarter. M3F Inc. increased its holdings in CB Financial Services by 79.8% during the second quarter. M3F Inc. now owns 175,358 shares of the bank's stock worth $4,998,000 after buying an additional 77,809 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in CB Financial Services by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 166,918 shares of the bank's stock worth $4,757,000 after acquiring an additional 2,044 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CB Financial Services by 112.2% in the second quarter. Geode Capital Management LLC now owns 107,608 shares of the bank's stock valued at $3,067,000 after acquiring an additional 56,889 shares during the last quarter. 33.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently commented on CBFV. Weiss Ratings restated a "hold (c)" rating on shares of CB Financial Services in a research report on Monday. DA Davidson increased their price target on CB Financial Services from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen upgraded CB Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods increased their target price on CB Financial Services from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.00.
Check Out Our Latest Stock Analysis on CBFV
CB Financial Services Company Profile
(
Get Free Report)
CB Financial Services, Inc operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts, as well as time deposit products.
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