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) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CBFV. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research report on Friday, March 27th. DA Davidson started coverage on shares of CB Financial Services in a research note on Wednesday, February 25th. They set a “buy” rating and a $43.00 target price on the stock. Finally, 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. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

CB Financial Services Stock Performance

The business’s fifty day moving average price is $35.16 and its two-hundred day moving average price is $35.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $187.65 million, a P/E 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $14.82 million for the quarter, compared to the consensus estimate of $15.50 million. CB Financial Services had a net margin of 8.32% and a return on equity of 10.07%. As a group, sell-side analysts forecast that CB Financial Services, Inc. will post 3.12 earnings per share for the current year.

CB Financial Services Announces Dividend

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

Hedge Funds Weigh In On CB Financial Services

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 purchasing an additional 150,873 shares during the last quarter. M3F Inc. grew its stake in CB Financial Services by 4.5% in the 1st quarter. M3F Inc. now owns 171,439 shares of the bank’s stock worth $5,860,000 after acquiring an additional 7,425 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in CB Financial Services by 1.2% in the 2nd 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. Geode Capital Management LLC grew its stake in CB Financial Services by 112.2% in the 2nd quarter. Geode Capital Management LLC now owns 107,608 shares of the bank’s stock worth $3,067,000 after acquiring an additional 56,889 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in CB Financial Services by 3.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 67,840 shares of the bank’s stock worth $2,253,000 after acquiring an additional 2,303 shares in the last quarter. 33.06% of the stock is currently owned by institutional investors.

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.