CB Financial Services, Inc. (NASDAQ:CBFV) Sees Large Drop in Short Interest

CB Financial Services, Inc. (NASDAQ:CBFV) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 99,119 shares, a decline of 19.3% from the December 15th total of 122,890 shares. Based on an average daily volume of 8,533 shares, the days-to-cover ratio is currently 11.6 days. Currently, 2.2% of the shares of the stock are sold short. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 8,533 shares, the days-to-cover ratio is currently 11.6 days.

Analysts Set New Price Targets

CBFV has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective on CB Financial Services from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Zacks Research cut CB Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Insider Buying and Selling

In related news, EVP Bruce A. Sharp purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $32.80 per share, with a total value 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. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in CB Financial Services by 1.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 340,462 shares of the bank’s stock valued at $9,703,000 after buying an additional 3,816 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of CB Financial Services by 108.0% during the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock valued at $641,000 after acquiring an additional 11,704 shares during the last quarter. M3F Inc. boosted its holdings in shares of 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 purchasing an additional 77,809 shares during the period. BNP Paribas Financial Markets grew its stake in shares of CB Financial Services by 89.7% in the third quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock worth $45,000 after purchasing an additional 635 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of CB Financial Services by 902.9% in the second quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock worth $70,000 after purchasing an additional 2,212 shares during the last quarter. 33.06% of the stock is owned by hedge funds and other institutional investors.

CB Financial Services Stock Performance

NASDAQ CBFV opened at $34.54 on Wednesday. The company has a 50-day simple moving average of $34.90 and a two-hundred day simple moving average of $33.09. CB Financial Services has a 12-month low of $26.01 and a 12-month high of $37.45. The firm has a market cap of $173.05 million, a price-to-earnings ratio of 71.96 and a beta of 0.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.23.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.74 EPS for the quarter, topping the consensus estimate of $0.66 by $0.08. The firm had revenue of $2.42 million for the quarter, compared to the consensus estimate of $13.96 million. CB Financial Services had a return on equity of 8.42% and a net margin of 3.37%. On average, equities analysts forecast that CB Financial Services will post 1.82 EPS for the current year.

CB Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.26 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.04 annualized dividend and a yield of 3.0%. CB Financial Services’s payout ratio is presently 216.67%.

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.